Sun Communities, Inc. (NYSE:SUI) Shares Purchased by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. increased its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 6.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 94,759 shares of the real estate investment trust's stock after acquiring an additional 5,498 shares during the period. Whittier Trust Co. of Nevada Inc. owned approximately 0.07% of Sun Communities worth $11,652,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SUI. FMR LLC lifted its stake in shares of Sun Communities by 37.6% in 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 purchasing an additional 1,430,630 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Sun Communities by 23.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,344,020 shares of the real estate investment trust's stock valued at $288,244,000 after buying an additional 442,557 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in 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 buying an additional 1,209,522 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Sun Communities by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,123,440 shares of the real estate investment trust's stock worth $138,149,000 after buying an additional 47,899 shares during the period. Finally, Westfield Capital Management Co. LP boosted its stake in Sun Communities by 58.8% during the third quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust's stock worth $129,728,000 after buying an additional 355,427 shares during the period. Institutional investors and hedge funds own 99.59% of the company's stock.

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Sun Communities Stock Performance

NYSE SUI traded down $2.18 during trading hours on Tuesday, hitting $128.18. The company had a trading volume of 665,191 shares, compared to its average volume of 795,547. The business has a 50 day moving average of $128.39 and a 200-day moving average of $129.36. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. Sun Communities, Inc. has a 1-year low of $110.98 and a 1-year high of $147.83. The company has a market cap of $16.35 billion, a PE ratio of 68.91 and a beta of 0.90.

Sun Communities (NYSE:SUI - Get Free Report) last announced its 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 return on equity of 3.21% and a net margin of 7.46%. The firm had revenue of $745.90 million during the quarter, compared to analysts' expectations of $724.68 million. As a group, equities research analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.94 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.93%. Sun Communities's payout ratio is 508.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Wells Fargo & Company dropped their price objective on shares of Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Wednesday, December 11th. Jefferies Financial Group decreased their price objective on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. Finally, Truist Financial increased their target price on Sun Communities from $136.00 to $142.00 and gave the company a "buy" rating in a report on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $136.60.

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.