Thrivent Financial for Lutherans Has $3.64 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

Thrivent Financial for Lutherans trimmed its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 64.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,581 shares of the real estate investment trust's stock after selling 53,105 shares during the quarter. Thrivent Financial for Lutherans' holdings in Sun Communities were worth $3,638,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SUI. Brooklyn Investment Group bought a new position in shares of Sun Communities in the third quarter worth $41,000. 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 valued at $49,000 after buying an additional 124 shares during the period. CKW Financial Group raised its holdings in Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 135 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Sun Communities during the 3rd quarter valued at $60,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Sun Communities by 8.5% in 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 buying an additional 84 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Trading Up 1.5 %

Sun Communities stock traded up $1.93 during midday trading on Friday, reaching $130.04. The stock had a trading volume of 952,380 shares, compared to its average volume of 825,610. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market cap of $16.59 billion, a price-to-earnings ratio of 69.91 and a beta of 0.90. The firm's fifty day simple moving average is $128.88 and its two-hundred day simple moving average is $129.11.

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Sun Communities (NYSE:SUI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.02. The business had revenue of $745.90 million for 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%. Equities analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The business also recently disclosed 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. This represents a $3.76 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Monday, March 31st. Sun Communities's payout ratio is presently 508.11%.

Analyst Upgrades and Downgrades

SUI has been the topic of several research reports. Truist Financial boosted their price target on shares of Sun Communities from $136.00 to $142.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Wells Fargo & Company dropped their target price on shares of Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a report on Wednesday, December 11th. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. Finally, Jefferies Financial Group decreased their price target on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $136.60.

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.