Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 18,547 Shares of Sun Communities, Inc. (NYSE:SUI)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 86.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,122 shares of the real estate investment trust's stock after purchasing an additional 18,547 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Sun Communities were worth $4,934,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. FMR LLC grew its position in shares of Sun Communities by 37.6% in the third quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust's stock valued at $707,329,000 after purchasing an additional 1,430,630 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Sun Communities by 23.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,344,020 shares of the real estate investment trust's stock worth $288,244,000 after buying an additional 442,557 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Sun Communities by 1,061.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust's stock worth $178,868,000 after purchasing an additional 1,209,522 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Sun Communities by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,123,440 shares of the real estate investment trust's stock valued at $138,149,000 after purchasing an additional 47,899 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its position in Sun Communities by 58.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust's stock valued at $129,728,000 after acquiring an additional 355,427 shares during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SUI. Jefferies Financial Group dropped their price objective on Sun Communities from $145.00 to $142.00 and set a "buy" rating for the company in a research note on Thursday, January 2nd. Truist Financial lifted their target price on Sun Communities from $136.00 to $142.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Wells Fargo & Company dropped their price target 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, Royal Bank of Canada reaffirmed an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $136.60.

Sun Communities Trading Down 1.5 %

NYSE:SUI traded down $1.95 during mid-day trading on Thursday, hitting $127.96. 944,386 shares of the company's stock were exchanged, compared to its average volume of 794,926. The firm has a market capitalization of $16.33 billion, a P/E ratio of 68.80 and a beta of 0.90. The company has a 50 day simple moving average of $128.71 and a 200-day simple moving average of $129.27. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.02. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company had revenue of $745.90 million for the quarter, compared to analysts' expectations of $724.68 million. As a group, research analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.94 per share. The ex-dividend date is Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a yield of 2.94%. Sun Communities's dividend payout ratio (DPR) 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.