Whittier Trust Co. increased its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 216,139 shares of the real estate investment trust's stock after buying an additional 4,708 shares during the quarter. Whittier Trust Co. owned about 0.17% of Sun Communities worth $26,578,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its stake in shares of Sun Communities by 2,111.1% in the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 190 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Sun Communities by 6.9% in the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust's stock valued at $10,434,000 after buying an additional 5,008 shares during the period. CIBC Asset Management Inc lifted its position in Sun Communities by 5.5% in the third quarter. CIBC Asset Management Inc now owns 4,401 shares of the real estate investment trust's stock valued at $595,000 after buying an additional 228 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in Sun Communities by 58.2% during the third quarter. Mutual of America Capital Management LLC now owns 17,679 shares of the real estate investment trust's stock worth $2,389,000 after buying an additional 6,506 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in shares of Sun Communities by 28.9% during the third quarter. Thrivent Financial for Lutherans now owns 82,686 shares of the real estate investment trust's stock valued at $11,175,000 after acquiring an additional 18,548 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.
Sun Communities Stock Down 0.4 %
NYSE:SUI traded down $0.56 during mid-day trading on Monday, hitting $130.42. The stock had a trading volume of 616,880 shares, compared to its average volume of 795,600. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83. The stock has a 50-day simple moving average of $128.39 and a two-hundred day simple moving average of $129.36. 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 has a market capitalization of $16.64 billion, a PE ratio of 70.12 and a beta of 0.90.
Sun Communities (NYSE:SUI - Get Free Report) last announced 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. The business had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. On average, equities research analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.
Sun Communities Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Monday, March 31st. Sun Communities's payout ratio is 508.11%.
Wall Street Analyst Weigh In
SUI has been the topic of several recent analyst reports. Truist Financial upped their price objective on shares of Sun Communities from $136.00 to $142.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Jefferies Financial Group decreased their price target on Sun Communities from $145.00 to $142.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Wells Fargo & Company cut their price objective on 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, Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Sun Communities currently has an average rating of "Hold" and a consensus target price of $136.60.
Read Our Latest Stock Analysis on Sun Communities
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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