Wellington Management Group LLP trimmed its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 39.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 304,567 shares of the real estate investment trust's stock after selling 195,243 shares during the quarter. Wellington Management Group LLP owned approximately 0.24% of Sun Communities worth $37,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in Sun Communities by 45.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 124 shares in the last quarter. CKW Financial Group raised its holdings in shares of Sun Communities by 45.0% during the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 135 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted 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 valued at $131,000 after purchasing an additional 84 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Sun Communities by 86.2% in the 4th quarter. Blue Trust Inc. now owns 1,164 shares of the real estate investment trust's stock valued at $157,000 after purchasing an additional 539 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in Sun Communities by 20.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,559 shares of the real estate investment trust's stock worth $192,000 after purchasing an additional 267 shares in the last quarter. Institutional investors own 99.59% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on SUI shares. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. Truist Financial reduced their target price on Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a report on Thursday. Finally, Jefferies Financial Group started coverage on Sun Communities in a report on Tuesday. They set a "buy" rating and a $150.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Sun Communities presently has an average rating of "Hold" and a consensus price target of $136.70.
View Our Latest Research Report on SUI
Sun Communities Stock Performance
Shares of Sun Communities stock traded up $1.48 during midday trading on Friday, hitting $120.36. The company had a trading volume of 588,183 shares, compared to its average volume of 836,304. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $147.83. The business's 50 day simple moving average is $127.89 and its two-hundred day simple moving average is $127.53. The stock has a market cap of $15.36 billion, a PE ratio of 64.71 and a beta of 0.84. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61.
Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. As a group, equities analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.
Sun Communities Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.94 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.76 annualized dividend and a yield of 3.12%. Sun Communities's dividend payout ratio (DPR) is 508.11%.
Sun Communities Profile
(
Free Report)
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.
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