Dimensional Fund Advisors LP Has $225.01 Million Stock Position in Sun Communities, Inc. (NYSE:SUI)

Dimensional Fund Advisors LP grew its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,829,816 shares of the real estate investment trust's stock after acquiring an additional 49,404 shares during the quarter. Dimensional Fund Advisors LP owned 1.44% of Sun Communities worth $225,012,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cohen & Steers Inc. increased its holdings in Sun Communities by 30.3% in the 4th quarter. Cohen & Steers Inc. now owns 16,373,446 shares of the real estate investment trust's stock valued at $2,013,414,000 after buying an additional 3,811,528 shares during the period. Dodge & Cox increased its stake in Sun Communities by 61.1% in the fourth quarter. Dodge & Cox now owns 9,606,018 shares of the real estate investment trust's stock valued at $1,181,252,000 after acquiring an additional 3,644,853 shares during the period. FMR LLC raised its position in Sun Communities by 51.3% in the fourth quarter. FMR LLC now owns 7,917,870 shares of the real estate investment trust's stock worth $973,660,000 after purchasing an additional 2,684,214 shares in the last quarter. Norges Bank bought a new position in Sun Communities during the fourth quarter worth about $888,783,000. Finally, Daiwa Securities Group Inc. boosted its holdings in 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 valued at $288,244,000 after purchasing an additional 442,557 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company's stock.

Sun Communities Trading Up 0.1 %

SUI opened at $121.24 on Wednesday. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $147.83. The firm has a 50-day moving average price of $127.41 and a two-hundred day moving average price of $126.99. The stock has a market capitalization of $15.47 billion, a PE ratio of 65.18 and a beta of 0.84. 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 (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 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 business had revenue of $745.90 million during the quarter, compared to analyst estimates of $724.68 million. As a group, equities analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Monday, March 31st. Sun Communities's dividend payout ratio (DPR) is presently 508.11%.

Wall Street Analysts Forecast Growth

SUI has been the subject of a number of recent research reports. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Truist Financial dropped their price objective on Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Jefferies Financial Group started coverage on shares of Sun Communities in a research note on Tuesday, April 8th. They issued a "buy" rating and a $150.00 target price on the stock. Finally, JMP Securities reiterated 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 issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $135.70.

About Sun Communities

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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