Poplar Forest Capital LLC Sells 27,040 Shares of Sun Communities, Inc. (NYSE:SUI)

Poplar Forest Capital LLC trimmed its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 22.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,026 shares of the real estate investment trust's stock after selling 27,040 shares during the period. Sun Communities comprises about 1.7% of Poplar Forest Capital LLC's investment portfolio, making the stock its 27th biggest position. Poplar Forest Capital LLC owned about 0.08% of Sun Communities worth $12,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in SUI. Quest Partners LLC lifted its holdings in shares of Sun Communities by 12,700.0% during the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust's stock worth $46,000 after acquiring an additional 381 shares during the period. 1620 Investment Advisors Inc. acquired a new position in Sun Communities in the second quarter worth about $62,000. Farther Finance Advisors LLC lifted its stake in Sun Communities by 89.1% during the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust's stock worth $68,000 after purchasing an additional 236 shares during the period. Blue Trust Inc. boosted its holdings in Sun Communities by 230.7% during the third quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust's stock valued at $84,000 after purchasing an additional 436 shares in the last quarter. Finally, Crewe Advisors LLC bought a new stake in shares of Sun Communities in the 1st quarter valued at approximately $90,000. Institutional investors own 99.59% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SUI. Jefferies Financial Group assumed coverage on Sun Communities in a research report on Thursday, October 17th. They issued a "buy" rating and a $160.00 price target on the stock. Truist Financial increased their target price on shares of Sun Communities from $127.00 to $138.00 and gave the stock a "hold" rating in a research report on Tuesday, August 13th. Wells Fargo & Company boosted their price target on shares of Sun Communities from $123.00 to $154.00 and gave the company an "equal weight" rating in a research report on Thursday, September 19th. BMO Capital Markets decreased their price objective on shares of Sun Communities from $145.00 to $138.00 and set an "outperform" rating on the stock in a research note on Thursday. Finally, Evercore ISI lifted their target price on shares of Sun Communities from $149.00 to $150.00 and gave the company an "in-line" rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sun Communities has an average rating of "Hold" and a consensus price target of $141.82.

Sun Communities Price Performance

Shares of SUI stock traded down $8.88 during trading hours on Thursday, reaching $122.88. 3,057,632 shares of the company were exchanged, compared to its average volume of 817,270. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The stock's fifty day moving average is $135.71 and its two-hundred day moving average is $126.78. The company has a market cap of $15.32 billion, a price-to-earnings ratio of 141.28, a P/E/G ratio of 0.95 and a beta of 0.91. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.94 per share. The ex-dividend date was Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.06%. Sun Communities's payout ratio is 437.21%.

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.