Sun Communities, Inc. (NYSE:SUI) Shares Sold by FIL Ltd

by · The Markets Daily

FIL Ltd cut its position in Sun Communities, Inc. (NYSE:SUI – Free Report) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 201,439 shares of the real estate investment trust’s stock after selling 14,472 shares during the quarter. FIL Ltd owned about 0.16% of Sun Communities worth $24,771,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SUI. Aster Capital Management DIFC Ltd grew its position in Sun Communities by 263.6% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 232 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Sun Communities by 45.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 124 shares in the last quarter. CKW Financial Group increased its position in Sun Communities by 45.0% in the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 135 shares during the period. Quadrant Capital Group LLC raised its stake in Sun Communities by 17.2% during the 4th quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 123 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Sun Communities by 8.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust’s stock worth $131,000 after acquiring an additional 84 shares during the period. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Price Performance

NYSE SUI opened at $118.79 on Friday. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $147.83. The business’s fifty day moving average is $128.01 and its two-hundred day moving average is $127.65. The stock has a market capitalization of $15.16 billion, a P/E ratio of 63.87 and a beta of 0.84. 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 (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, topping 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 company had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. On average, research analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The company also recently announced 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. This represents a $3.76 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Monday, March 31st. Sun Communities’s payout ratio is 508.11%.

Analyst Ratings Changes

A number of research analysts have recently commented on SUI shares. Truist Financial lowered their price target on Sun Communities from $142.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday. Royal Bank of Canada restated an “outperform” rating on shares of Sun Communities in a research report on Friday, February 28th. Finally, Jefferies Financial Group initiated coverage on shares of Sun Communities in a report on Tuesday. They issued a “buy” rating and a $150.00 price objective for the company. Two investment 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $136.70.

Get Our Latest Stock Report on SUI

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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