Russell Investments Group Ltd. raised its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 40.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 930,216 shares of the real estate investment trust's stock after acquiring an additional 267,695 shares during the period. Russell Investments Group Ltd. owned approximately 0.73% of Sun Communities worth $114,388,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in Sun Communities by 45.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 124 shares during the period. CKW Financial Group grew its holdings in shares of Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 135 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Sun Communities by 8.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust's stock worth $131,000 after acquiring an additional 84 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Sun Communities by 86.2% in the 4th quarter. Blue Trust Inc. now owns 1,164 shares of the real estate investment trust's stock worth $157,000 after acquiring an additional 539 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in Sun Communities by 20.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,559 shares of the real estate investment trust's stock valued at $192,000 after acquiring an additional 267 shares in the last quarter. Institutional investors own 99.59% of the company's stock.
Analyst Upgrades and Downgrades
SUI has been the subject of several analyst reports. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. Truist Financial reduced their target price 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. Finally, Jefferies Financial Group began coverage on shares of Sun Communities in a research report on Tuesday. 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $136.70.
View Our Latest Research Report on Sun Communities
Sun Communities Stock Performance
Sun Communities stock traded down $0.24 during midday trading on Friday, reaching $118.65. The stock had a trading volume of 179,810 shares, compared to its average volume of 833,570. The firm has a market capitalization of $15.14 billion, a PE ratio of 63.79 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. 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 firm's 50-day moving average price is $128.01 and its 200 day moving average price is $127.65.
Sun Communities (NYSE:SUI - Get Free Report) last released its quarterly earnings data 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 business had revenue of $745.90 million during the quarter, compared to analyst estimates of $724.68 million. As a group, research analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.
Sun Communities Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Monday, March 31st. Sun Communities's dividend payout ratio (DPR) is presently 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.
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