Cerity Partners LLC trimmed its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 12.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,366 shares of the real estate investment trust's stock after selling 3,980 shares during the quarter. Cerity Partners LLC's holdings in Sun Communities were worth $3,655,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of SUI. FMR LLC boosted its position in shares of Sun Communities by 51.3% during the fourth quarter. FMR LLC now owns 7,917,870 shares of the real estate investment trust's stock valued at $973,660,000 after purchasing an additional 2,684,214 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its stake in 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 worth $39,000 after acquiring an additional 232 shares in the last quarter. Quadrant Capital Group LLC grew its holdings 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 worth $103,000 after purchasing an additional 123 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Sun Communities by 40.4% during the fourth quarter. Russell Investments Group Ltd. now owns 930,216 shares of the real estate investment trust's stock valued at $114,388,000 after purchasing an additional 267,695 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Sun Communities during the fourth quarter valued at approximately $8,211,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.
Sun Communities Stock Performance
NYSE:SUI traded down $0.74 during mid-day trading on Tuesday, hitting $122.44. 547,127 shares of the company traded hands, compared to its average volume of 836,353. 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 stock's fifty day moving average price is $127.76 and its 200-day moving average price is $127.35. The firm has a market cap of $15.62 billion, a price-to-earnings ratio of 65.83 and a beta of 0.84. 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 issued its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.02. The business had revenue of $745.90 million for the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. Research analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.
Sun Communities Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Monday, March 31st. Sun Communities's dividend payout ratio (DPR) is 508.11%.
Analyst Ratings Changes
A number of research firms recently weighed in on SUI. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Sun Communities in a research report 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 on the stock in a research report on Thursday, April 10th. Finally, Jefferies Financial Group started coverage on Sun Communities in a research note on Tuesday, April 8th. They set a "buy" rating and a $150.00 target price on the stock. Two 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, Sun Communities currently has a consensus rating of "Hold" and an average target price of $136.70.
Read Our Latest Stock Analysis on Sun Communities
Sun Communities Profile
(
Free Report)
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.
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