444,894 Shares in Sun Communities, Inc. (NYSE:SUI) Acquired by Capital International Investors

Capital International Investors bought a new position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 444,894 shares of the real estate investment trust's stock, valued at approximately $54,709,000. Capital International Investors owned 0.35% of Sun Communities at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd grew its stake in Sun Communities by 263.6% in the 4th 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 last quarter. Smartleaf Asset Management LLC grew its position in shares of Sun Communities by 45.1% in the fourth 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 last quarter. CKW Financial Group increased its stake in shares of Sun Communities by 45.0% during the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 135 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of 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 purchasing an additional 123 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings 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 buying an additional 84 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Sun Communities Trading Up 0.2 %

Shares of SUI stock traded up $0.19 on Thursday, reaching $122.26. 614,583 shares of the stock were exchanged, compared to its average volume of 837,531. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $147.83. The stock has a market cap of $15.60 billion, a P/E ratio of 65.73 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The firm has a 50 day moving average of $127.35 and a two-hundred day moving average of $126.95.

Sun Communities (NYSE:SUI - Get Free Report) last released 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 company had revenue of $745.90 million for the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. On average, research analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

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

Sun Communities Company 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.