Sei Investments Co. lifted its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 26.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 819,369 shares of the real estate investment trust's stock after purchasing an additional 172,924 shares during the quarter. Sei Investments Co. owned 0.64% of Sun Communities worth $100,758,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Brooklyn Investment Group bought a new position in Sun Communities during the third quarter valued at approximately $41,000. Smartleaf Asset Management LLC raised its holdings 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 worth $49,000 after purchasing an additional 124 shares in the last quarter. CKW Financial Group lifted its holdings in Sun Communities by 45.0% in the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock worth $53,000 after buying an additional 135 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Sun Communities during the 3rd quarter worth approximately $60,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in 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 worth $131,000 after purchasing an additional 84 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors.
Sun Communities Trading Down 1.5 %
Shares of SUI stock traded down $1.95 during trading hours on Thursday, reaching $127.96. 944,386 shares of the stock were exchanged, compared to its average volume of 794,926. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The company's 50-day moving average price is $128.71 and its 200-day moving average price is $129.27. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83. The firm has a market capitalization of $16.33 billion, a price-to-earnings ratio of 68.80 and a beta of 0.90.
Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $745.90 million for the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. As a group, equities analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.
Sun Communities Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 2.94%. The ex-dividend date of this dividend is Monday, March 31st. Sun Communities's dividend payout ratio (DPR) is presently 508.11%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on SUI shares. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. Jefferies Financial Group dropped their target price on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating on the stock in a report on Thursday, January 2nd. Wells Fargo & Company reduced their target price on shares of Sun Communities from $154.00 to $135.00 and set an "equal weight" rating for the company in a report on Wednesday, December 11th. Finally, Truist Financial lifted their target price on shares of Sun Communities from $136.00 to $142.00 and gave the company a "buy" rating in a research note on Monday, March 10th. 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 company's stock. According to data from MarketBeat.com, Sun Communities currently has an average rating of "Hold" and a consensus price target of $136.60.
Check Out Our Latest Analysis 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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