APG Asset Management N.V. Makes New Investment in Sun Communities, Inc. (NYSE:SUI)

APG Asset Management N.V. bought a new position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 65,100 shares of the real estate investment trust's stock, valued at approximately $7,731,000. APG Asset Management N.V. owned 0.05% of Sun Communities at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SUI. Aster Capital Management DIFC Ltd lifted its holdings in shares of Sun Communities by 263.6% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 232 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Sun Communities by 45.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 124 shares in the last quarter. CKW Financial Group lifted its holdings in Sun Communities by 45.0% during the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 135 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Sun Communities by 17.2% in the fourth quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock valued at $103,000 after buying an additional 123 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in Sun Communities by 8.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust's stock worth $131,000 after buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages have recently commented on SUI. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Jefferies Financial Group assumed coverage on Sun Communities in a report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target for the company. Finally, Truist Financial dropped their target price on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $136.70.

Sun Communities Stock Down 0.6 %

Shares of NYSE:SUI traded down $0.74 during mid-day trading on Tuesday, reaching $122.44. 386,804 shares of the stock were exchanged, compared to its average volume of 835,043. The company has a market cap of $15.62 billion, a P/E ratio of 65.83 and a beta of 0.84. The stock's 50 day simple moving average is $127.82 and its 200-day simple moving average is $127.38. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a one year low of $109.22 and a one year high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.02. The business had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. As a group, equities research analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a yield of 3.07%. Sun Communities's payout ratio is 508.11%.

About Sun Communities

Established in 1975, Sun Communities, Inc became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of December 31, 2023, the Company owned, operated, or had an interest in a portfolio of 667 developed MH, RV and Marina properties comprising 179,310 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.