Envestnet Asset Management Inc. decreased its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 8.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 210,729 shares of the real estate investment trust's stock after selling 19,514 shares during the quarter. Envestnet Asset Management Inc. owned 0.17% of Sun Communities worth $25,913,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in SUI. Legacy Trust acquired a new stake in Sun Communities in the 4th quarter valued at about $625,000. Aurora Investment Managers LLC. lifted its stake in Sun Communities by 9.7% during the fourth quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust's stock worth $3,380,000 after purchasing an additional 2,435 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Sun Communities by 16.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust's stock valued at $95,885,000 after acquiring an additional 108,054 shares during the period. VCI Wealth Management LLC purchased a new position in Sun Communities during the 4th quarter worth $1,312,000. Finally, Vert Asset Management LLC increased its position in Sun Communities by 9.9% during the 4th quarter. Vert Asset Management LLC now owns 56,083 shares of the real estate investment trust's stock worth $6,897,000 after purchasing an additional 5,060 shares during the period. 99.59% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on SUI shares. Truist Financial cut their target price on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Jefferies Financial Group started coverage on shares of Sun Communities in a research report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price objective for the company. Finally, Royal Bank of Canada reiterated an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. Two 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.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $136.70.
Check Out Our Latest Research Report on SUI
Sun Communities Stock Performance
Shares of SUI traded down $0.74 during midday trading on Tuesday, hitting $122.44. 547,127 shares of the stock traded hands, compared to its average volume of 836,353. The business's 50 day moving average price is $127.82 and its two-hundred day moving average price is $127.38. The firm has a market capitalization of $15.62 billion, a PE ratio of 65.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year 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 the consensus estimate of $1.39 by $0.02. The firm had revenue of $745.90 million during the quarter, compared to analysts' expectations of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. Equities research analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.
Sun Communities Dividend Announcement
The business 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 dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Monday, March 31st. Sun Communities's dividend payout ratio is currently 508.11%.
Sun Communities Profile
(
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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