Gamco Investors INC. ET AL Has $1.66 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

Gamco Investors INC. ET AL trimmed its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 18.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,500 shares of the real estate investment trust's stock after selling 3,000 shares during the quarter. Gamco Investors INC. ET AL's holdings in Sun Communities were worth $1,660,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Sun Communities in the third quarter valued at $1,564,000. Central Pacific Bank Trust Division grew its stake in Sun Communities by 97.2% during the 4th quarter. Central Pacific Bank Trust Division now owns 3,500 shares of the real estate investment trust's stock valued at $430,000 after acquiring an additional 1,725 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Sun Communities by 7.7% in the 4th quarter. Nordea Investment Management AB now owns 10,633 shares of the real estate investment trust's stock valued at $1,307,000 after purchasing an additional 756 shares during the period. First Hawaiian Bank lifted its position in shares of Sun Communities by 29.4% in the fourth quarter. First Hawaiian Bank now owns 22,440 shares of the real estate investment trust's stock worth $2,759,000 after purchasing an additional 5,100 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in shares of Sun Communities by 4.4% during the fourth quarter. Park Avenue Securities LLC now owns 4,811 shares of the real estate investment trust's stock worth $592,000 after purchasing an additional 203 shares during the period. Institutional investors and hedge funds own 99.59% of the company's stock.

Sun Communities Stock Performance

SUI opened at $123.18 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The company has a market cap of $15.72 billion, a PE ratio of 66.22 and a beta of 0.84. The stock has a 50-day moving average of $127.59 and a 200-day moving average of $127.16. Sun Communities, Inc. has a 52-week low of $109.22 and a 52-week high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last announced its earnings results 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 return on equity of 3.21% and a net margin of 7.46%. The firm had revenue of $745.90 million during the quarter, compared to analysts' expectations of $724.68 million. As a group, equities research analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.94 dividend. The ex-dividend date was Monday, March 31st. This represents a $3.76 annualized dividend and a yield of 3.05%. Sun Communities's dividend payout ratio (DPR) is presently 508.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SUI shares. Truist Financial cut their target price on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. Finally, Jefferies Financial Group assumed coverage on Sun Communities in a research report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 target price on the stock. Two 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $136.70.

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.

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