Sun Communities, Inc. (NYSE:SUI) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. reduced its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 592,367 shares of the real estate investment trust's stock after selling 17,280 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.47% of Sun Communities worth $72,843,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SUI. Brooklyn Investment Group bought a new position in Sun Communities during the third quarter worth about $41,000. Smartleaf Asset Management LLC lifted its position in 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 acquiring an additional 124 shares in the last quarter. CKW Financial Group increased its holdings in 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. Point72 Hong Kong Ltd acquired a new stake in shares of Sun Communities in the 3rd quarter valued at about $60,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Sun Communities by 8.5% in the fourth 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 purchasing an additional 84 shares in the last quarter. Institutional investors own 99.59% of the company's stock.

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Sun Communities Stock Performance

NYSE:SUI traded up $0.14 during mid-day trading on Tuesday, hitting $128.78. The company's stock had a trading volume of 237,648 shares, compared to its average volume of 824,638. The stock has a market cap of $16.43 billion, a price-to-earnings ratio of 69.40 and a beta of 0.90. The business's fifty day moving average is $128.93 and its two-hundred day moving average is $128.91. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 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 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%. Analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Monday, March 31st. Sun Communities's dividend payout ratio (DPR) is presently 508.11%.

Analyst Upgrades and Downgrades

SUI has been the subject of several analyst reports. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. Truist Financial raised their price target on shares of Sun Communities from $136.00 to $142.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Jefferies Financial Group dropped their price objective on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Finally, Wells Fargo & Company decreased their price objective on Sun Communities from $154.00 to $135.00 and set an "equal weight" rating for the company in a report on Wednesday, December 11th. Two equities research 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 MarketBeat, Sun Communities has an average rating of "Hold" and an average price target of $136.60.

Sun Communities 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.