Proficio Capital Partners LLC acquired a new stake in Sun Communities, Inc. (NYSE:SUI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 48,081 shares of the real estate investment trust's stock, valued at approximately $5,913,000.
A number of other hedge funds also recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Sun Communities by 8.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust's stock valued at $131,000 after buying an additional 84 shares during the last quarter. Cascade Investment Advisors Inc. lifted its position in shares of Sun Communities by 0.8% in the fourth quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust's stock valued at $1,276,000 after buying an additional 85 shares during the last quarter. Cetera Trust Company N.A lifted its position in shares of Sun Communities by 6.0% in the fourth quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust's stock valued at $229,000 after buying an additional 105 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Sun Communities by 45.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 124 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of Sun Communities by 3.0% in the third quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust's stock valued at $585,000 after buying an additional 125 shares during the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.
Sun Communities Price Performance
Shares of SUI traded up $3.65 during midday trading on Monday, hitting $131.79. The company's stock had a trading volume of 969,900 shares, compared to its average volume of 785,398. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83. The company's fifty day simple moving average is $127.27 and its two-hundred day simple moving average is $129.52. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $16.79 billion, a price-to-earnings ratio of 70.85 and a beta of 0.90.
Sun Communities (NYSE:SUI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) 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 company had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. As a group, equities analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.
Sun Communities Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.94 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.76 annualized dividend and a dividend yield of 2.85%. Sun Communities's payout ratio is 508.11%.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on SUI shares. Jefferies Financial Group lowered their target price on Sun Communities from $145.00 to $142.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Truist Financial increased their target price on Sun Communities from $136.00 to $142.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Royal Bank of Canada reiterated an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. StockNews.com lowered Sun Communities from a "hold" rating to a "sell" rating in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company lowered their target price on Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Sun Communities has a consensus rating of "Hold" and a consensus target price of $135.55.
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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