Bristlecone Advisors LLC Acquires 3,565 Shares of Sun Communities, Inc. (NYSE:SUI)

Bristlecone Advisors LLC raised its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 64.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,120 shares of the real estate investment trust's stock after purchasing an additional 3,565 shares during the period. Bristlecone Advisors LLC's holdings in Sun Communities were worth $1,121,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SUI. Empowered Funds LLC grew its stake in shares of Sun Communities by 26.0% in the fourth quarter. Empowered Funds LLC now owns 2,547 shares of the real estate investment trust's stock valued at $313,000 after acquiring an additional 526 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Sun Communities by 6.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 34,782 shares of the real estate investment trust's stock valued at $4,277,000 after acquiring an additional 2,124 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Sun Communities by 16.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust's stock valued at $95,885,000 after acquiring an additional 108,054 shares in the last quarter. RNC Capital Management LLC acquired a new position in shares of Sun Communities in the fourth quarter valued at about $203,000. Finally, Vanderbilt University acquired a new position in shares of Sun Communities in the fourth quarter valued at about $1,122,000. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. BMO Capital Markets decreased their price target on shares of Sun Communities from $145.00 to $138.00 and set an "outperform" rating on the stock in a research note on Thursday, November 7th. Jefferies Financial Group decreased their price target on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Baird R W downgraded shares of Sun Communities from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. Wells Fargo & Company reduced their price objective on shares of Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Wednesday, December 11th. Finally, Evercore ISI increased their price objective on shares of Sun Communities from $149.00 to $150.00 and gave the stock an "in-line" rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Sun Communities currently has a consensus rating of "Hold" and an average target price of $134.55.

Sun Communities Price Performance

Shares of SUI stock traded down $1.50 on Friday, reaching $125.11. The company had a trading volume of 636,495 shares, compared to its average volume of 774,093. The stock has a market capitalization of $15.94 billion, a PE ratio of 67.27 and a beta of 0.90. 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 $110.98 and a one year high of $147.83. The business's 50-day moving average is $124.26 and its 200 day moving average is $129.64.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.01%. Sun Communities's dividend payout ratio (DPR) is currently 202.15%.

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.