Lasalle Investment Management Securities LLC Boosts Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Lasalle Investment Management Securities LLC boosted its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 48.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 638,436 shares of the real estate investment trust's stock after acquiring an additional 209,811 shares during the quarter. Sun Communities accounts for 3.3% of Lasalle Investment Management Securities LLC's holdings, making the stock its 12th largest position. Lasalle Investment Management Securities LLC owned approximately 0.50% of Sun Communities worth $78,508,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Natixis purchased a new stake in shares of Sun Communities during the 4th quarter worth about $90,000. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Sun Communities by 447.0% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 7,001 shares of the real estate investment trust's stock worth $861,000 after purchasing an additional 5,721 shares during the period. Capital International Inc. CA purchased a new position in Sun Communities during the fourth quarter worth approximately $525,000. First Trust Advisors LP grew its holdings in Sun Communities by 8.7% in the fourth quarter. First Trust Advisors LP now owns 19,845 shares of the real estate investment trust's stock valued at $2,440,000 after purchasing an additional 1,594 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Sun Communities by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,829,816 shares of the real estate investment trust's stock valued at $225,012,000 after buying an additional 49,404 shares in the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Trading Up 0.6 %

Shares of SUI traded up $0.79 during mid-day trading on Friday, reaching $122.99. The stock had a trading volume of 277,530 shares, compared to its average volume of 835,337. The business's fifty day moving average is $127.29 and its 200 day moving average is $126.92. The firm has a market cap of $15.69 billion, a price-to-earnings ratio of 66.04 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. 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 posted its earnings results 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 company 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%. On average, sell-side analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Monday, March 31st. Sun Communities's dividend payout ratio (DPR) is 508.11%.

Analyst Ratings Changes

SUI has been the topic of a number of recent analyst reports. Truist Financial decreased 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 reaffirmed an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. JMP Securities reissued a "market outperform" rating and set a $140.00 target price (down previously from $150.00) on shares of Sun Communities in a research note on Monday. Finally, Jefferies Financial Group began coverage on shares of Sun Communities in a research report on Tuesday, April 8th. They set a "buy" rating and a $150.00 price target for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $135.70.

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.