Schroder Investment Management Group Decreases Stake in Sun Communities, Inc. (NYSE:SUI)

Schroder Investment Management Group decreased its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 28.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 406,607 shares of the real estate investment trust's stock after selling 159,739 shares during the period. Schroder Investment Management Group owned 0.32% of Sun Communities worth $49,508,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of SUI. BNP Paribas Financial Markets grew its holdings in Sun Communities by 53.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 106,103 shares of the real estate investment trust's stock valued at $14,340,000 after buying an additional 36,828 shares in the last quarter. Townsquare Capital LLC bought a new position in Sun Communities in the 3rd quarter valued at approximately $252,000. Public Sector Pension Investment Board lifted its stake in shares of Sun Communities by 29.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 16,208 shares of the real estate investment trust's stock valued at $2,191,000 after acquiring an additional 3,690 shares during the last quarter. PEAK6 Investments LLC acquired a new stake in Sun Communities during the 3rd quarter worth approximately $432,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Sun Communities in the third quarter valued at $60,000. Institutional investors and hedge funds own 99.59% of the company's stock.

Sun Communities Stock Performance

Shares of Sun Communities stock traded up $1.21 during mid-day trading on Thursday, hitting $130.14. 833,563 shares of the stock were exchanged, compared to its average volume of 825,645. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. The company has a 50-day simple moving average of $129.02 and a 200 day simple moving average of $128.77. The company has a market capitalization of $16.60 billion, a P/E ratio of 69.97 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61.

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Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, topping 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 business had revenue of $745.90 million for the quarter, compared to analysts' expectations of $724.68 million. Sell-side analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Monday, March 31st. Sun Communities's payout ratio is 508.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SUI shares. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. 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. Wells Fargo & Company lowered 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. Finally, Jefferies Financial Group dropped their price objective on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Sun Communities presently has an average rating of "Hold" and an average price target of $136.60.

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.