New Age Alpha Advisors LLC Makes New Investment in Sun Communities, Inc. (NYSE:SUI)

New Age Alpha Advisors LLC bought a new position in Sun Communities, Inc. (NYSE:SUI - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 18,672 shares of the real estate investment trust's stock, valued at approximately $2,296,000.

Several other hedge funds have also recently made changes to their positions in SUI. Legacy Trust bought a new stake in Sun Communities during the fourth quarter worth approximately $625,000. Aurora Investment Managers LLC. boosted its holdings in shares of Sun Communities by 9.7% in the 4th quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust's stock worth $3,380,000 after purchasing an additional 2,435 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Sun Communities by 16.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust's stock valued at $95,885,000 after purchasing an additional 108,054 shares during the last quarter. VCI Wealth Management LLC purchased a new stake in Sun Communities during the 4th quarter valued at $1,312,000. Finally, Vert Asset Management LLC lifted its position in Sun Communities by 9.9% in the fourth quarter. Vert Asset Management LLC now owns 56,083 shares of the real estate investment trust's stock worth $6,897,000 after buying an additional 5,060 shares during the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Sun Communities Trading Up 1.5 %

SUI traded up $1.89 during trading on Thursday, hitting $130.82. 149,560 shares of the stock were exchanged, compared to its average volume of 823,057. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83. The firm has a market cap of $16.69 billion, a price-to-earnings ratio of 70.33 and a beta of 0.90. The firm has a 50 day simple moving average of $129.02 and a 200 day simple moving average of $128.77. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61.

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Sun Communities (NYSE:SUI - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $724.68 million. As a group, equities analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.87%. The ex-dividend date is Monday, March 31st. Sun Communities's payout ratio is 508.11%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Truist Financial increased their target price on shares of Sun Communities from $136.00 to $142.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Jefferies Financial Group reduced their price objective on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. Finally, Wells Fargo & Company reduced their price target on Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a report on Wednesday, December 11th. Two investment 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. Based on data from MarketBeat, Sun Communities presently has a consensus rating of "Hold" and an average target price of $136.60.

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.