APG Asset Management US Inc. Decreases Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

APG Asset Management US Inc. cut its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 7.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 412,168 shares of the real estate investment trust's stock after selling 35,470 shares during the quarter. Sun Communities makes up approximately 0.4% of APG Asset Management US Inc.'s portfolio, making the stock its 25th largest holding. APG Asset Management US Inc. owned 0.32% of Sun Communities worth $50,684,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quantinno Capital Management LP lifted its position in Sun Communities by 22.0% during the third quarter. Quantinno Capital Management LP now owns 7,695 shares of the real estate investment trust's stock worth $1,040,000 after buying an additional 1,390 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in Sun Communities by 84.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 12,806 shares of the real estate investment trust's stock worth $1,731,000 after purchasing an additional 5,861 shares during the period. Vestcor Inc raised its position in shares of Sun Communities by 36.9% during the 3rd quarter. Vestcor Inc now owns 2,915 shares of the real estate investment trust's stock worth $394,000 after purchasing an additional 785 shares during the period. Toronto Dominion Bank increased its stake in Sun Communities by 31.6% during the 3rd quarter. Toronto Dominion Bank now owns 15,682 shares of the real estate investment trust's stock valued at $2,119,000 after buying an additional 3,766 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Sun Communities in the third quarter worth approximately $1,564,000. Hedge funds and other institutional investors own 99.59% of the company's stock.

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Analyst Upgrades and Downgrades

SUI has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. Jefferies Financial Group initiated coverage on Sun Communities in a report on Tuesday, April 8th. They set a "buy" rating and a $150.00 price target for the company. Finally, Truist Financial dropped their price objective on Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday. Two research 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. Based on data from MarketBeat.com, Sun Communities currently has an average rating of "Hold" and an average target price of $136.70.

Sun Communities Stock Up 1.3 %

Shares of NYSE SUI traded up $1.55 during mid-day trading on Monday, hitting $122.17. 96,935 shares of the stock traded hands, compared to its average volume of 834,903. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a fifty day moving average price of $127.89 and a 200-day moving average price of $127.47. The company has a market cap of $15.59 billion, a price-to-earnings ratio of 65.68 and a beta of 0.84. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last posted its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.02. The business had revenue of $745.90 million during 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%. 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 3.08%. The ex-dividend date is Monday, March 31st. Sun Communities's dividend payout ratio (DPR) is presently 508.11%.

Sun Communities Company 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.