Vanderbilt University Buys New Position in Sun Communities, Inc. (NYSE:SUI)

Vanderbilt University purchased a new stake in Sun Communities, Inc. (NYSE:SUI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,125 shares of the real estate investment trust's stock, valued at approximately $1,122,000.

A number of other institutional investors also recently modified their holdings of SUI. FMR LLC raised its holdings in Sun Communities by 37.6% during the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust's stock valued at $707,329,000 after acquiring an additional 1,430,630 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Sun Communities by 1,061.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust's stock valued at $178,868,000 after purchasing an additional 1,209,522 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Sun Communities by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,075,541 shares of the real estate investment trust's stock valued at $145,359,000 after purchasing an additional 3,254 shares during the period. Westfield Capital Management Co. LP lifted its holdings in Sun Communities by 58.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust's stock worth $129,728,000 after purchasing an additional 355,427 shares in the last quarter. Finally, Adelante Capital Management LLC boosted its stake in Sun Communities by 168.7% in the 3rd quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust's stock worth $75,566,000 after purchasing an additional 351,017 shares during the period. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com cut Sun Communities from a "hold" rating to a "sell" rating in a research report on Wednesday, November 20th. UBS Group lowered shares of Sun Communities from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $155.00 to $134.00 in a report on Thursday, November 14th. Evercore ISI raised their price target on shares of Sun Communities from $149.00 to $150.00 and gave the company an "in-line" rating in a report on Monday, October 21st. Wells Fargo & Company decreased their price target 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. Finally, BMO Capital Markets dropped their price objective on Sun Communities from $145.00 to $138.00 and set an "outperform" rating for the company in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $134.55.

Sun Communities Price Performance

SUI traded down $0.06 during trading on Friday, reaching $125.27. The stock had a trading volume of 540,853 shares, compared to its average volume of 795,743. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The business has a 50-day moving average of $124.35 and a 200-day moving average of $129.61. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83. The stock has a market cap of $15.96 billion, a PE ratio of 67.35 and a beta of 0.90.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). The firm had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. Sun Communities's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.57 earnings per share. As a group, equities research analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Tuesday, December 31st. Sun Communities's payout ratio is currently 202.15%.

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.