Sun Communities, Inc. (NYSE:SUI) Shares Acquired by Whittier Trust Co.

Whittier Trust Co. boosted its position in Sun Communities, Inc. (NYSE:SUI) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,139 shares of the real estate investment trust’s stock after buying an additional 4,708 shares during the quarter. Whittier Trust Co. owned 0.17% of Sun Communities worth $26,578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SUI. FMR LLC raised its position 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 worth $178,868,000 after buying an additional 1,209,522 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Sun Communities by 23.3% in the fourth 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 acquiring an additional 442,557 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake 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 valued at $129,728,000 after acquiring an additional 355,427 shares during the last quarter. Finally, Adelante Capital Management LLC grew its holdings in Sun Communities by 168.7% during 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 acquiring an additional 351,017 shares in the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SUI has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their target price on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Jefferies Financial Group reduced their target price on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Royal Bank of Canada reiterated an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Finally, Truist Financial boosted their target price on shares of Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Two 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, the company presently has an average rating of “Hold” and a consensus price target of $135.55.

Sun Communities Stock Down 0.9 %

SUI stock opened at $131.65 on Thursday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The firm’s 50-day simple moving average is $127.85 and its 200 day simple moving average is $129.51. The stock has a market cap of $16.77 billion, a PE ratio of 70.78 and a beta of 0.90. 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) last issued its quarterly earnings data 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. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business had revenue of $745.90 million during the quarter, compared to the consensus estimate of $724.68 million. As a group, sell-side analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.94 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.76 annualized dividend and a dividend yield of 2.86%. Sun Communities’s payout ratio is 508.11%.

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.