Sun Communities, Inc. (NYSE:SUI) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC trimmed its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 92.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,381 shares of the real estate investment trust's stock after selling 30,224 shares during the period. Guggenheim Capital LLC's holdings in Sun Communities were worth $293,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Sun Communities by 8.5% during the 4th 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. Cascade Investment Advisors Inc. boosted its holdings in shares of Sun Communities by 0.8% during the 4th quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust's stock worth $1,276,000 after purchasing an additional 85 shares during the last quarter. Cetera Trust Company N.A boosted its holdings in shares of Sun Communities by 6.0% during the 4th quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust's stock worth $229,000 after purchasing an additional 105 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Sun Communities by 17.2% during the 4th quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock worth $103,000 after purchasing an additional 123 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Sun Communities by 45.1% during 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 during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SUI shares. Jefferies Financial Group started coverage on Sun Communities in a report on Tuesday, April 8th. They set a "buy" rating and a $150.00 target price on the stock. JMP Securities reiterated a "market outperform" rating and issued a $140.00 price objective (down from $150.00) on shares of Sun Communities in a report on Monday, April 21st. Royal Bank of Canada reiterated an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Finally, Truist Financial decreased their price objective on Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Sun Communities has an average rating of "Hold" and an average target price of $135.70.

Sun Communities Stock Up 0.0 %

Shares of NYSE SUI opened at $122.25 on Monday. The firm has a market cap of $15.60 billion, a price-to-earnings ratio of 65.73 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a 52-week low of $109.22 and a 52-week high of $147.83. The business's 50 day moving average is $127.22 and its two-hundred day moving average is $126.88.

Sun Communities (NYSE:SUI - Get Free Report) last announced its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. Research analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Monday, March 31st. Sun Communities's payout ratio is currently 508.11%.

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.

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