LPL Financial LLC Purchases 4,665 Shares of Sun Communities, Inc. (NYSE:SUI)

LPL Financial LLC lifted its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 22.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,560 shares of the real estate investment trust's stock after acquiring an additional 4,665 shares during the quarter. LPL Financial LLC's holdings in Sun Communities were worth $3,143,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Sun Communities by 8.5% during the 4th 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. Cascade Investment Advisors Inc. lifted its stake in 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 acquiring an additional 85 shares during the last quarter. Cetera Trust Company N.A lifted its stake in 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 acquiring an additional 105 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of 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 acquiring an additional 124 shares during the period. Finally, Argonautica Private Wealth Management Inc. raised its holdings in shares of Sun Communities by 4.5% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 2,901 shares of the real estate investment trust's stock valued at $357,000 after purchasing an additional 126 shares during the period. Institutional investors own 99.59% of the company's stock.

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Sun Communities Price Performance

NYSE SUI traded down $0.74 during midday trading on Tuesday, hitting $122.44. The company had a trading volume of 547,127 shares, compared to its average volume of 835,043. The company has a market capitalization of $15.62 billion, a PE ratio of 65.83 and a beta of 0.84. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $147.83. 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 firm has a 50-day moving average price of $127.82 and a 200-day moving average price of $127.38.

Sun Communities (NYSE:SUI - Get Free Report) last released its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. As a group, analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

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 given a dividend of $0.94 per share. The ex-dividend date is Monday, March 31st. This represents a $3.76 annualized dividend and a dividend yield of 3.07%. Sun Communities's dividend payout ratio is currently 508.11%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. Jefferies Financial Group began coverage on Sun Communities in a research note on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target on the stock. Finally, Truist Financial decreased their price objective on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $136.70.

About Sun Communities

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.