Xponance Inc. Boosts Holdings in Sun Communities, Inc. (NYSE:SUI)

Xponance Inc. grew its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 14.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,383 shares of the real estate investment trust’s stock after acquiring an additional 1,530 shares during the quarter. Xponance Inc.’s holdings in Sun Communities were worth $1,523,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SUI. Brooklyn Investment Group purchased a new position in shares of Sun Communities during the third quarter worth approximately $41,000. Smartleaf Asset Management LLC increased its stake in shares of Sun Communities by 45.1% in the fourth 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 during the period. CKW Financial Group increased its stake in shares of Sun Communities by 45.0% in the fourth 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 during the period. Point72 Hong Kong Ltd purchased a new position in shares of Sun Communities in the third quarter worth $60,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Sun Communities by 8.5% in the fourth 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 during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SUI has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Truist Financial lifted their target price on shares of Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Jefferies Financial Group decreased their target price on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company reduced 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $136.60.

Sun Communities Stock Down 0.5 %

Shares of Sun Communities stock opened at $131.00 on Friday. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83. The company has a market cap of $16.69 billion, a P/E 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. The company’s fifty day simple moving average is $128.23 and its two-hundred day simple moving average is $129.46.

Sun Communities (NYSE:SUI) last announced its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm had revenue of $745.90 million for the quarter, compared to analysts’ expectations of $724.68 million. Research analysts anticipate 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 dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Monday, March 31st. Sun Communities’s dividend payout ratio (DPR) is presently 508.11%.

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.