UniSuper Management Pty Ltd Has $4.56 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

UniSuper Management Pty Ltd reduced its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,100 shares of the real estate investment trust’s stock after selling 700 shares during the period. UniSuper Management Pty Ltd’s holdings in Sun Communities were worth $4,562,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Brooklyn Investment Group bought a new position in shares of Sun Communities in the 3rd quarter valued at approximately $41,000. Smartleaf Asset Management LLC grew its holdings in Sun Communities by 45.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 124 shares during the last quarter. CKW Financial Group raised its position 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 valued at $53,000 after purchasing an additional 135 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Sun Communities in the third quarter worth $60,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of 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 buying an additional 84 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Jefferies Financial Group cut their target price 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. Truist Financial boosted their price objective on Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. Finally, Wells Fargo & Company lowered 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 note on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $136.60.

Sun Communities Price Performance

Shares of Sun Communities stock opened at $130.04 on Friday. The firm has a market cap of $16.59 billion, a P/E ratio of 69.91 and a beta of 0.90. 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 twelve month low of $110.98 and a twelve month high of $147.83. The firm’s 50-day simple moving average is $128.88 and its 200-day simple moving average is $129.19.

Sun Communities (NYSE:SUI) last issued 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 business had revenue of $745.90 million during the quarter, compared to analysts’ expectations of $724.68 million. As a group, research analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.94 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a yield of 2.89%. 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.