BI Asset Management Fondsmaeglerselskab A S Boosts Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

BI Asset Management Fondsmaeglerselskab A S boosted its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 447.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,001 shares of the real estate investment trust's stock after buying an additional 5,721 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Sun Communities were worth $861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Sun Communities by 8.5% in the 4th 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 period. Cascade Investment Advisors Inc. boosted its holdings in shares of Sun Communities by 0.8% in the fourth quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust's stock worth $1,276,000 after acquiring an additional 85 shares during the period. Cetera Trust Company N.A boosted its holdings in shares of Sun Communities by 6.0% in the fourth quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust's stock worth $229,000 after acquiring an additional 105 shares during the period. Quadrant Capital Group LLC grew its position in shares of 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 purchasing an additional 123 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake 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 valued at $49,000 after purchasing an additional 124 shares during the period. 99.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Sun Communities in a report on Tuesday, April 8th. They set a "buy" rating and a $150.00 target price for the company. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. JMP Securities reaffirmed a "market outperform" rating and set a $140.00 target price (down previously from $150.00) on shares of Sun Communities in a report on Monday, April 21st. Finally, Truist Financial cut their price target on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Sun Communities presently has a consensus rating of "Hold" and a consensus target price of $135.70.

Sun Communities Price Performance

Shares of Sun Communities stock traded down $1.08 on Tuesday, hitting $122.18. 59,852 shares of the company traded hands, compared to its average volume of 835,886. Sun Communities, Inc. has a 12-month low of $109.22 and a 12-month high of $147.83. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The company has a market cap of $15.59 billion, a P/E ratio of 65.69 and a beta of 0.84. The firm's 50-day simple moving average is $127.19 and its 200 day simple moving average is $126.84.

Sun Communities (NYSE:SUI - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.02. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business had revenue of $745.90 million for the quarter, compared to the consensus estimate of $724.68 million. Analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 3.08%. The ex-dividend date was Monday, March 31st. Sun Communities's dividend payout ratio is currently 508.11%.

Sun Communities Profile

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.