Van Lanschot Kempen Investment Management N.V. Trims Stake in Sun Communities, Inc. (NYSE:SUI)

Van Lanschot Kempen Investment Management N.V. cut its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 154,682 shares of the real estate investment trust's stock after selling 4,596 shares during the period. Van Lanschot Kempen Investment Management N.V. owned 0.12% of Sun Communities worth $19,021,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the stock. Virtu Financial LLC bought a new position in Sun Communities in the 3rd quarter valued at $1,564,000. Central Pacific Bank Trust Division grew its holdings in shares of Sun Communities by 97.2% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,500 shares of the real estate investment trust's stock worth $430,000 after purchasing an additional 1,725 shares in the last quarter. Nordea Investment Management AB boosted its stake in Sun Communities by 7.7% in the fourth quarter. Nordea Investment Management AB now owns 10,633 shares of the real estate investment trust's stock worth $1,307,000 after buying an additional 756 shares in the last quarter. First Hawaiian Bank grew its position in Sun Communities by 29.4% during the 4th quarter. First Hawaiian Bank now owns 22,440 shares of the real estate investment trust's stock worth $2,759,000 after acquiring an additional 5,100 shares during the last quarter. Finally, Park Avenue Securities LLC raised its holdings in Sun Communities by 4.4% during the 4th quarter. Park Avenue Securities LLC now owns 4,811 shares of the real estate investment trust's stock valued at $592,000 after buying an additional 203 shares during the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Sun Communities Stock Up 0.0 %

SUI stock traded up $0.05 during midday trading on Friday, hitting $122.25. The company's stock had a trading volume of 547,892 shares, compared to its average volume of 836,377. The company has a market cap of $15.60 billion, a PE ratio of 65.73 and a beta of 0.84. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month high of $147.83. The firm's 50-day moving average is $127.29 and its 200-day moving average is $126.92.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly 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. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm had revenue of $745.90 million for the quarter, compared to the consensus estimate of $724.68 million. On average, equities research analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

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

Wall Street Analysts Forecast Growth

SUI has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Jefferies Financial Group initiated coverage on shares of Sun Communities in a report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $140.00 target price (down previously from $150.00) on shares of Sun Communities in a research note on Monday. Finally, Truist Financial lowered their price objective on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Sun Communities presently has a consensus rating of "Hold" and a consensus price target of $135.70.

Sun Communities Company 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.