9,073 Shares in Sun Communities, Inc. (NYSE:SUI) Bought by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. purchased a new stake in Sun Communities, Inc. (NYSE:SUI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,073 shares of the real estate investment trust's stock, valued at approximately $1,116,000.

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

Wall Street Analysts Forecast Growth

SUI has been the subject of several research reports. Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. JMP Securities reissued a "market outperform" rating and set a $140.00 target price (down previously from $150.00) on shares of Sun Communities in a research note on Monday. Jefferies Financial Group assumed coverage on shares of Sun Communities in a research note on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target on the stock. Finally, Truist Financial reduced their price objective on Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Sun Communities has a consensus rating of "Hold" and a consensus price target of $135.70.

Sun Communities Stock Up 0.3 %

Shares of SUI traded up $0.39 during trading hours on Friday, hitting $122.59. 206,665 shares of the company were exchanged, compared to its average volume of 807,666. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The company has a market cap of $15.64 billion, a PE ratio of 65.91 and a beta of 0.84. The firm's 50 day moving average is $127.29 and its 200-day moving average is $126.92. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $147.83.

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

Sun Communities Announces Dividend

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