Greenland Capital Management LP Has $2.95 Million Stock Position in Sun Communities, Inc. (NYSE:SUI)

Greenland Capital Management LP lowered its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 66.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,000 shares of the real estate investment trust's stock after selling 47,699 shares during the period. Greenland Capital Management LP's holdings in Sun Communities were worth $2,951,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SUI. Aster Capital Management DIFC Ltd lifted its stake in shares of Sun Communities by 263.6% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 232 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in 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 worth $49,000 after purchasing an additional 124 shares in the last quarter. CKW Financial Group raised its position in Sun Communities by 45.0% in the fourth 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 boosted 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 valued at $103,000 after purchasing an additional 123 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of 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 purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company's stock.

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Sun Communities Trading Up 1.2 %

SUI traded up $1.48 during trading on Friday, reaching $120.36. 588,183 shares of the stock traded hands, compared to its average volume of 837,808. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The stock's 50-day moving average is $127.89 and its 200 day moving average is $127.47. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month high of $147.83. The stock has a market capitalization of $15.36 billion, a PE ratio of 64.71 and a beta of 0.84.

Sun Communities (NYSE:SUI - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Equities analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Dividend Announcement

The business also recently announced 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 of this dividend is Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.12%. Sun Communities's payout ratio is presently 508.11%.

Analyst Upgrades and Downgrades

SUI has been the subject of a number of research reports. Royal Bank of Canada reiterated an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Truist Financial dropped their price target 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. Finally, Jefferies Financial Group started coverage on shares of Sun Communities in a research note on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price objective on the stock. 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $136.70.

Sun Communities 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.