42,700 Shares in Sun Communities, Inc. (NYSE:SUI) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in Sun Communities, Inc. (NYSE:SUI - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 42,700 shares of the real estate investment trust's stock, valued at approximately $5,285,000.

Other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of Sun Communities in the 3rd quarter valued at approximately $41,000. Smartleaf Asset Management LLC lifted its holdings in shares of Sun Communities by 45.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 124 shares in the last quarter. CKW Financial Group boosted its position in shares of 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 buying an additional 135 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Sun Communities during the third quarter valued at $60,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings 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 valued at $131,000 after buying an additional 84 shares in the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Stock Up 1.5 %

Sun Communities stock traded up $1.93 during mid-day trading on Friday, hitting $130.04. 952,380 shares of the company's stock were exchanged, compared to its average volume of 825,610. Sun Communities, Inc. has a 1-year low of $110.98 and a 1-year high of $147.83. The stock has a 50 day moving average of $128.88 and a two-hundred day moving average of $129.11. The stock has a market cap of $16.59 billion, a P/E ratio of 69.91 and a beta of 0.90. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.

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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, beating analysts' consensus estimates of $1.39 by $0.02. The business had revenue of $745.90 million for the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. As a group, analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Monday, March 31st. Sun Communities's dividend payout ratio is 508.11%.

Analyst Upgrades and Downgrades

SUI has been the subject of a number of research reports. Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. Truist Financial increased their price target on shares of Sun Communities from $136.00 to $142.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Wells Fargo & Company lowered their price objective on shares of Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group cut their target price on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price 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.