Vert Asset Management LLC Buys 5,060 Shares of Sun Communities, Inc. (NYSE:SUI)

Vert Asset Management LLC increased its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 56,083 shares of the real estate investment trust's stock after acquiring an additional 5,060 shares during the quarter. Sun Communities makes up approximately 2.4% of Vert Asset Management LLC's holdings, making the stock its 15th biggest holding. Vert Asset Management LLC's holdings in Sun Communities were worth $6,897,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Public Sector Pension Investment Board boosted its holdings in Sun Communities by 4.6% in the second quarter. Public Sector Pension Investment Board now owns 12,518 shares of the real estate investment trust's stock valued at $1,506,000 after acquiring an additional 547 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Sun Communities by 0.8% in the 2nd quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust's stock valued at $1,434,000 after purchasing an additional 98 shares in the last quarter. APG Asset Management N.V. grew its holdings in shares of Sun Communities by 185.3% during the 2nd quarter. APG Asset Management N.V. now owns 13,856 shares of the real estate investment trust's stock worth $1,556,000 after purchasing an additional 9,000 shares during the period. MBB Public Markets I LLC acquired a new stake in Sun Communities during the 2nd quarter worth approximately $1,083,000. Finally, Mackenzie Financial Corp raised its holdings in Sun Communities by 118.2% in the second quarter. Mackenzie Financial Corp now owns 7,055 shares of the real estate investment trust's stock valued at $849,000 after buying an additional 3,821 shares during the period. Institutional investors and hedge funds own 99.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SUI shares. Baird R W cut Sun Communities from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 7th. BMO Capital Markets dropped their price target on Sun Communities from $145.00 to $138.00 and set an "outperform" rating on the stock in a research report on Thursday, November 7th. StockNews.com cut Sun Communities from a "hold" rating to a "sell" rating in a research note on Wednesday, November 20th. Jefferies Financial Group reduced their target price on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating for the company in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada cut their price target on Sun Communities from $147.00 to $135.00 and set an "outperform" rating on the stock in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $134.08.

Sun Communities Trading Down 3.2 %

Shares of Sun Communities stock traded down $4.19 on Tuesday, reaching $126.98. 765,301 shares of the company were exchanged, compared to its average volume of 842,851. The stock has a fifty day moving average price of $124.63 and a 200-day moving average price of $129.62. 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 firm has a market capitalization of $16.18 billion, a price-to-earnings ratio of 68.26, a price-to-earnings-growth ratio of 0.51 and a beta of 0.89. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.51 by ($0.20). The company had revenue of $939.90 million during the quarter, compared to analysts' expectations of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Sun Communities's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the company earned $2.57 earnings per share. On average, analysts expect that Sun Communities, Inc. will post 6.78 EPS for the current year.

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.94 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 annualized dividend and a yield of 2.96%. Sun Communities's dividend payout ratio (DPR) is 202.15%.

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.