California Public Employees Retirement System Sells 13,860 Shares of Sun Communities, Inc. (NYSE:SUI)

California Public Employees Retirement System cut its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 6.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 215,333 shares of the real estate investment trust's stock after selling 13,860 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Sun Communities worth $26,479,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. grew its position 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 in the last quarter. Cascade Investment Advisors Inc. grew its position in Sun Communities by 0.8% during the fourth quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust's stock worth $1,276,000 after buying an additional 85 shares in the last quarter. Cetera Trust Company N.A grew its position in Sun Communities by 6.0% during the fourth quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust's stock worth $229,000 after buying an additional 105 shares in the last quarter. Smartleaf Asset Management LLC increased its stake 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 acquiring an additional 124 shares during the period. Finally, Argonautica Private Wealth Management Inc. raised its holdings in Sun Communities by 4.5% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 2,901 shares of the real estate investment trust's stock valued at $357,000 after acquiring an additional 126 shares in the last quarter. 99.59% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. Truist Financial raised their target price on shares of Sun Communities from $136.00 to $142.00 and gave the company a "buy" rating in a report on Monday, March 10th. Jefferies Financial Group started coverage on shares of Sun Communities in a report on Tuesday. They set a "buy" rating and a $150.00 price target for the company. Finally, Wells Fargo & Company decreased their price objective on shares of Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Sun Communities currently has an average rating of "Hold" and a consensus target price of $137.40.

Sun Communities Price Performance

Shares of SUI traded down $4.53 during trading hours on Tuesday, reaching $114.70. The stock had a trading volume of 1,151,744 shares, compared to its average volume of 831,935. 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 12 month low of $110.98 and a 12 month high of $147.83. The stock has a market capitalization of $14.63 billion, a PE ratio of 61.67 and a beta of 0.84. The company's 50-day moving average is $128.35 and its two-hundred day moving average is $127.96.

Sun Communities (NYSE:SUI - Get Free Report) last issued 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. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business had revenue of $745.90 million during the quarter, compared to analysts' expectations of $724.68 million. Research analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Monday, March 31st. Sun Communities's payout ratio is 508.11%.

About Sun Communities

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.