FIL Ltd cut its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 201,439 shares of the real estate investment trust's stock after selling 14,472 shares during the quarter. FIL Ltd owned approximately 0.16% of Sun Communities worth $24,771,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd grew its position in Sun Communities by 263.6% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 232 shares during the period. Smartleaf Asset Management LLC increased its stake in Sun Communities by 45.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 124 shares during the period. CKW Financial Group grew its stake in shares of Sun Communities by 45.0% in the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 135 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Sun Communities by 17.2% during the fourth quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock worth $103,000 after acquiring an additional 123 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in Sun Communities by 8.5% during 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 acquiring an additional 84 shares during the period. 99.59% of the stock is currently owned by hedge funds and other institutional investors.
Sun Communities Stock Down 0.1 %
Shares of SUI traded down $0.15 during midday trading on Wednesday, reaching $122.33. 121,914 shares of the company were exchanged, compared to its average volume of 833,552. The company has a market cap of $15.61 billion, a price-to-earnings ratio of 65.77 and a beta of 0.84. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $147.83. The stock has a 50-day moving average price of $127.76 and a 200-day moving average price of $127.35. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.
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. The company had revenue of $745.90 million during the quarter, compared to analysts' expectations of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Research analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current year.
Sun Communities Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Monday, March 31st. Sun Communities's dividend payout ratio is currently 508.11%.
Analysts Set New Price Targets
A number of research firms recently weighed in on SUI. Jefferies Financial Group initiated coverage on Sun Communities in a report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target on the stock. 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 note on Thursday, April 10th. Finally, Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Two equities 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $136.70.
Get Our Latest Research Report 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.
Read More
Before you consider Sun Communities, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sun Communities wasn't on the list.
While Sun Communities currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
