Nomura Asset Management Co. Ltd. grew its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 195,520 shares of the real estate investment trust's stock after acquiring an additional 4,939 shares during the period. Nomura Asset Management Co. Ltd. owned 0.15% of Sun Communities worth $24,043,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Trust bought a new stake in shares of Sun Communities during the fourth quarter worth approximately $625,000. Aurora Investment Managers LLC. grew its stake in Sun Communities by 9.7% in the fourth quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust's stock valued at $3,380,000 after acquiring an additional 2,435 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Sun Communities by 16.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust's stock worth $95,885,000 after acquiring an additional 108,054 shares in the last quarter. VCI Wealth Management LLC acquired a new stake in shares of Sun Communities during the fourth quarter worth about $1,312,000. Finally, Vert Asset Management LLC increased its stake in Sun Communities by 9.9% during the 4th quarter. Vert Asset Management LLC now owns 56,083 shares of the real estate investment trust's stock worth $6,897,000 after purchasing an additional 5,060 shares in the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.
Sun Communities Stock Performance
Shares of NYSE SUI traded up $1.89 during midday trading on Thursday, hitting $130.82. 149,560 shares of the stock traded hands, compared to its average volume of 823,057. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market capitalization of $16.69 billion, a P/E ratio of 70.33 and a beta of 0.90. The firm has a 50-day moving average of $129.02 and a two-hundred day moving average of $128.77. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83.
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 for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $724.68 million. On average, equities analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.
Sun Communities Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.94 per share. The ex-dividend date is Monday, March 31st. This represents a $3.76 annualized dividend and a yield of 2.87%. Sun Communities's payout ratio is currently 508.11%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. Jefferies Financial Group cut their price target on Sun Communities from $145.00 to $142.00 and set a "buy" rating on the stock in a report on Thursday, January 2nd. Wells Fargo & Company decreased 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 report on Wednesday, December 11th. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Finally, Truist Financial lifted their price target on shares of Sun Communities from $136.00 to $142.00 and gave the company a "buy" rating in a research report on Monday, March 10th. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $136.60.
Check Out Our Latest Research Report on SUI
About Sun Communities
(
Free Report)
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.
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