Signaturefd LLC Buys 205 Shares of Sun Communities, Inc. (NYSE:SUI)

Signaturefd LLC grew its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 14.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,639 shares of the real estate investment trust’s stock after acquiring an additional 205 shares during the quarter. Signaturefd LLC’s holdings in Sun Communities were worth $202,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SUI. Brooklyn Investment Group bought a new stake in Sun Communities in the 3rd quarter worth about $41,000. Smartleaf Asset Management LLC increased 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 holdings 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 worth $53,000 after buying an additional 135 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Sun Communities in the 3rd quarter worth about $60,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in 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 worth $131,000 after buying an additional 84 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Trading Down 0.5 %

Shares of NYSE:SUI opened at $131.00 on Friday. The stock has a 50 day moving average of $128.23 and a 200 day moving average of $129.46. The company has a market cap of $16.69 billion, a PE ratio of 70.43 and a beta of 0.90. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data 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. The company had revenue of $745.90 million during the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.87%. Sun Communities’s dividend payout ratio (DPR) is presently 508.11%.

Wall Street Analyst Weigh In

SUI has been the subject of several research analyst reports. Jefferies Financial Group reduced their price objective on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company reduced their price objective on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada restated an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Finally, Truist Financial boosted their price target on Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Sun Communities presently has an average rating of “Hold” and a consensus target price of $136.60.

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.