Dodge & Cox Has $1.18 Billion Holdings in Sun Communities, Inc. (NYSE:SUI)

Dodge & Cox grew its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 61.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,606,018 shares of the real estate investment trust's stock after purchasing an additional 3,644,853 shares during the period. Dodge & Cox owned approximately 7.54% of Sun Communities worth $1,181,252,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Aster Capital Management DIFC Ltd increased its holdings 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 during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Sun Communities by 45.1% in the 4th 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 grew its holdings in Sun Communities by 45.0% in the fourth 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 during the last quarter. Quadrant Capital Group LLC increased 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 valued at $103,000 after buying an additional 123 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Sun Communities by 8.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust's stock worth $131,000 after acquiring an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company's stock.

Sun Communities Stock Performance

Shares of SUI stock traded up $1.48 during trading hours on Friday, reaching $123.18. 418,560 shares of the company's stock were exchanged, compared to its average volume of 838,251. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The company's 50 day moving average is $127.59 and its two-hundred day moving average is $127.16. The company has a market cap of $15.72 billion, a P/E ratio of 66.22 and a beta of 0.84. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. The firm had revenue of $745.90 million during the quarter, compared to analysts' expectations of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Equities research analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders 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 dividend yield of 3.05%. The ex-dividend date of this dividend was Monday, March 31st. Sun Communities's payout ratio is 508.11%.

Wall Street Analyst Weigh In

SUI has been the topic of a number of recent research reports. Truist Financial dropped their target price on Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. Finally, Jefferies Financial Group began coverage on shares of Sun Communities in a report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $136.70.

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.