Lee Financial Co Decreases Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Lee Financial Co trimmed its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 60.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,502 shares of the real estate investment trust's stock after selling 3,775 shares during the quarter. Lee Financial Co's holdings in Sun Communities were worth $308,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SUI. FMR LLC raised its position in shares of Sun Communities by 37.6% during the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust's stock valued at $707,329,000 after buying an additional 1,430,630 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Sun Communities by 1,061.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust's stock valued at $178,868,000 after purchasing an additional 1,209,522 shares during the period. Westfield Capital Management Co. LP lifted its stake in shares of Sun Communities by 58.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust's stock valued at $129,728,000 after purchasing an additional 355,427 shares during the last quarter. Adelante Capital Management LLC grew its holdings in shares of Sun Communities by 168.7% during the 3rd quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust's stock worth $75,566,000 after purchasing an additional 351,017 shares during the period. Finally, abrdn plc increased its position in shares of Sun Communities by 343.5% during the 4th quarter. abrdn plc now owns 277,988 shares of the real estate investment trust's stock worth $34,098,000 after purchasing an additional 215,314 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SUI shares. BMO Capital Markets decreased their target price on shares of Sun Communities from $145.00 to $138.00 and set an "outperform" rating on the stock in a research report on Thursday, November 7th. UBS Group lowered shares of Sun Communities from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $155.00 to $134.00 in a report on Thursday, November 14th. Royal Bank of Canada dropped their target price on shares of Sun Communities from $147.00 to $135.00 and set an "outperform" rating for the company in a report on Thursday, November 7th. Robert W. Baird lowered Sun Communities from an "outperform" rating to a "neutral" rating and cut their target price for the company from $145.00 to $126.00 in a research report on Thursday, November 7th. Finally, Truist Financial upgraded Sun Communities from a "hold" rating to a "buy" rating in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $134.55.

Sun Communities Stock Down 1.0 %

SUI traded down $1.26 on Wednesday, hitting $124.85. 173,520 shares of the company were exchanged, compared to its average volume of 745,555. The firm has a 50-day moving average price of $124.34 and a two-hundred day moving average price of $129.55. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83. The company has a market cap of $15.90 billion, a price-to-earnings ratio of 67.09 and a beta of 0.90.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities's dividend payout ratio is presently 202.15%.

About Sun Communities

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.