Invesco Ltd. reduced its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 26.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 272,914 shares of the real estate investment trust's stock after selling 99,135 shares during the period. Invesco Ltd. owned 0.21% of Sun Communities worth $33,560,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. raised 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 buying an additional 84 shares during the last quarter. Cascade Investment Advisors Inc. raised its holdings in shares of Sun Communities by 0.8% in 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 acquiring an additional 85 shares during the last quarter. Cetera Trust Company N.A lifted its position in Sun Communities by 6.0% in the 4th quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust's stock valued at $229,000 after acquiring an additional 105 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in 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 valued at $103,000 after purchasing an additional 123 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in 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 in the last quarter. 99.59% of the stock is owned by institutional investors.
Sun Communities Stock Performance
Shares of SUI stock traded up $1.37 during trading hours on Wednesday, hitting $122.72. 134,726 shares of the company were exchanged, compared to its average volume of 810,979. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $15.66 billion, a price-to-earnings ratio of 65.98 and a beta of 0.84. The firm has a fifty day simple moving average of $127.41 and a 200 day simple moving average of $126.99. 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 released its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (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 return on equity of 3.21% and a net margin of 7.46%. Research analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.
Sun Communities Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Monday, March 31st. Sun Communities's payout ratio is currently 508.11%.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on SUI shares. JMP Securities restated a "market outperform" rating and issued a $140.00 target price (down previously from $150.00) on shares of Sun Communities in a report on Monday. Truist Financial cut their price objective on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Jefferies Financial Group initiated coverage on shares of Sun Communities in a research note on Tuesday, April 8th. They issued a "buy" rating and a $150.00 target price for the company. Finally, Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. Two investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $135.70.
View Our Latest Analysis on SUI
Sun Communities Company 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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