Capital International Inc. CA Invests $525,000 in Sun Communities, Inc. (NYSE:SUI)

Capital International Inc. CA purchased a new stake in Sun Communities, Inc. (NYSE:SUI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,268 shares of the real estate investment trust’s stock, valued at approximately $525,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SUI. First Trust Advisors LP grew its stake in shares of Sun Communities by 8.7% in the fourth quarter. First Trust Advisors LP now owns 19,845 shares of the real estate investment trust’s stock valued at $2,440,000 after acquiring an additional 1,594 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Sun Communities by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,829,816 shares of the real estate investment trust’s stock valued at $225,012,000 after purchasing an additional 49,404 shares during the period. GeoWealth Management LLC grew its position in shares of Sun Communities by 114.2% during the 4th quarter. GeoWealth Management LLC now owns 6,179 shares of the real estate investment trust’s stock worth $760,000 after purchasing an additional 3,294 shares in the last quarter. Capital Group Private Client Services Inc. bought a new position in shares of Sun Communities during the fourth quarter worth approximately $1,116,000. Finally, Capital International Investors acquired a new stake in shares of Sun Communities in the fourth quarter valued at approximately $54,709,000. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Up 1.2 %

Shares of NYSE:SUI opened at $123.18 on Monday. 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 52-week low of $109.22 and a 52-week high of $147.83. The company has a market capitalization of $15.72 billion, a PE ratio of 66.22 and a beta of 0.84. The company has a fifty day moving average of $127.59 and a 200-day moving average of $127.09.

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. On average, equities analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Monday, March 31st. Sun Communities’s payout ratio is 508.11%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SUI shares. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Sun Communities in a research report on Friday, February 28th. Truist Financial cut their price target on shares of Sun Communities from $142.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Jefferies Financial Group assumed coverage on shares of Sun Communities in a research note on Tuesday, April 8th. They issued a “buy” rating and a $150.00 price objective on the stock. Two 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. Based on data from MarketBeat, Sun Communities currently has an average rating of “Hold” and a consensus target price of $136.70.

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.