GeoWealth Management LLC raised its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 114.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,179 shares of the real estate investment trust's stock after buying an additional 3,294 shares during the quarter. GeoWealth Management LLC's holdings in Sun Communities were worth $760,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. grew its stake 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 worth $131,000 after acquiring an additional 84 shares during the last quarter. Cascade Investment Advisors Inc. boosted its holdings in Sun Communities by 0.8% in the 4th quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust's stock valued at $1,276,000 after purchasing an additional 85 shares during the period. Cetera Trust Company N.A grew its position in Sun Communities by 6.0% in the 4th quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust's stock worth $229,000 after purchasing an additional 105 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of 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 worth $103,000 after purchasing an additional 123 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Sun Communities by 45.1% during the fourth 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 during the last quarter. 99.59% of the stock is owned by institutional investors.
Sun Communities Price Performance
Shares of SUI traded up $0.05 during trading hours on Friday, hitting $122.25. The stock had a trading volume of 547,331 shares, compared to its average volume of 836,375. The stock has a market capitalization of $15.60 billion, a price-to-earnings ratio of 65.73 and a beta of 0.84. 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 fifty day moving average is $127.29 and its two-hundred day moving average is $126.92. 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 issued its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. The firm had revenue of $745.90 million for the quarter, compared to analysts' expectations of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. On average, analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.
Sun Communities Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.94 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.76 annualized dividend and a yield of 3.08%. 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. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. JMP Securities restated a "market outperform" rating and set a $140.00 price objective (down from $150.00) on shares of Sun Communities in a research report on Monday. Jefferies Financial Group initiated coverage on Sun Communities in a research report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 target price for the company. Finally, Truist Financial lowered their price target on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Two equities 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $135.70.
View Our Latest Analysis on SUI
About Sun Communities
(
Free Report)
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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