NFJ Investment Group LLC Decreases Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

NFJ Investment Group LLC lowered its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 6.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 194,484 shares of the real estate investment trust's stock after selling 13,739 shares during the quarter. NFJ Investment Group LLC owned 0.15% of Sun Communities worth $23,916,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Legacy Trust bought a new position in Sun Communities during the fourth quarter worth about $625,000. Aurora Investment Managers LLC. raised its position in 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 valued at $3,380,000 after purchasing an additional 2,435 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Sun Communities by 16.1% during the fourth 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 bought a new stake in shares of Sun Communities during the fourth quarter worth $1,312,000. Finally, Vert Asset Management LLC boosted its holdings 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 valued at $6,897,000 after acquiring an additional 5,060 shares during the last quarter. Institutional investors own 99.59% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SUI shares. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. Truist Financial lowered their price objective 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. Finally, Jefferies Financial Group began coverage on Sun Communities in a research report on Tuesday, April 8th. They set a "buy" rating and a $150.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $136.70.

Sun Communities Stock Down 2.2 %

SUI stock traded down $2.66 during trading on Monday, hitting $120.65. 102,525 shares of the stock traded hands, compared to its average volume of 836,034. The firm's 50 day moving average is $127.59 and its two-hundred day moving average is $127.09. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $147.83. 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 stock has a market cap of $15.39 billion, a price-to-earnings ratio of 64.87 and a beta of 0.84.

Sun Communities (NYSE:SUI - Get Free Report) last released 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. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company had revenue of $745.90 million during the quarter, compared to analyst estimates of $724.68 million. On average, sell-side analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Monday, March 31st. Sun Communities's payout ratio is currently 508.11%.

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.