Raymond James Financial Inc. bought a new position in Sun Communities, Inc. (NYSE:SUI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 130,527 shares of the real estate investment trust's stock, valued at approximately $16,051,000. Raymond James Financial Inc. owned approximately 0.10% of Sun Communities as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of SUI. APG Asset Management N.V. acquired a new stake in shares of Sun Communities in the 4th quarter valued at $7,731,000. FMR LLC increased its holdings in shares of Sun Communities by 51.3% during the 4th quarter. FMR LLC now owns 7,917,870 shares of the real estate investment trust's stock valued at $973,660,000 after acquiring an additional 2,684,214 shares during the last quarter. Aster Capital Management DIFC Ltd raised its stake in shares of Sun Communities by 263.6% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 232 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Sun Communities by 17.2% in the 4th quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock worth $103,000 after purchasing an additional 123 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Sun Communities by 40.4% during the fourth quarter. Russell Investments Group Ltd. now owns 930,216 shares of the real estate investment trust's stock worth $114,388,000 after purchasing an additional 267,695 shares during the period. Institutional investors and hedge funds own 99.59% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on SUI shares. Truist Financial reduced their price objective on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Jefferies Financial Group initiated coverage on Sun Communities in a research report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target on the stock. JMP Securities reissued a "market outperform" rating and set a $140.00 price objective (down previously from $150.00) on shares of Sun Communities in a research report on Monday. Finally, Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. Two equities research 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 stock presently has a consensus rating of "Hold" and an average price target of $135.70.
Check Out Our Latest Research Report on SUI
Sun Communities Price Performance
Shares of NYSE:SUI traded up $0.19 during midday trading on Thursday, reaching $122.26. 614,583 shares of the company's stock were exchanged, compared to its average volume of 836,755. The company's 50 day simple moving average is $127.35 and its two-hundred day simple moving average is $126.95. 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 $15.60 billion, a PE ratio of 65.73 and a beta of 0.84. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month high of $147.83.
Sun Communities (NYSE:SUI - Get Free Report) last announced its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.02. The business had revenue of $745.90 million during the quarter, compared to analysts' expectations of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. Equities research 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 was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Monday, March 31st. Sun Communities's dividend payout ratio (DPR) is 508.11%.
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.
Featured Stories
Before you consider Sun Communities, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sun Communities wasn't on the list.
While Sun Communities currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
