LRT Capital Management LLC Buys New Stake in Sun Communities, Inc. (NYSE:SUI)

LRT Capital Management LLC bought a new stake in shares of Sun Communities, Inc. (NYSE:SUI) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 15,862 shares of the real estate investment trust’s stock, valued at approximately $1,951,000. Sun Communities makes up 1.5% of LRT Capital Management LLC’s portfolio, making the stock its 24th largest position.

A number of other institutional investors also recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its holdings in shares of Sun Communities by 7.7% during the fourth quarter. Nordea Investment Management AB now owns 10,633 shares of the real estate investment trust’s stock valued at $1,307,000 after purchasing an additional 756 shares during the period. Park Avenue Securities LLC grew its position in Sun Communities by 4.4% in the 4th quarter. Park Avenue Securities LLC now owns 4,811 shares of the real estate investment trust’s stock valued at $592,000 after buying an additional 203 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in 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 valued at $131,000 after buying an additional 84 shares during the period. Arkadios Wealth Advisors raised its position in shares of Sun Communities by 13.1% during the 4th quarter. Arkadios Wealth Advisors now owns 5,847 shares of the real estate investment trust’s stock worth $719,000 after buying an additional 678 shares in the last quarter. Finally, HB Wealth Management LLC raised its position in shares of Sun Communities by 4.2% during the 4th quarter. HB Wealth Management LLC now owns 5,183 shares of the real estate investment trust’s stock worth $637,000 after buying an additional 207 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SUI shares. Truist Financial decreased their price objective 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. Royal Bank of Canada decreased their price target on Sun Communities from $154.00 to $147.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Robert W. Baird lowered their price target on Sun Communities from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Thursday. Jefferies Financial Group initiated coverage on Sun Communities in a report on Tuesday, April 8th. They issued a “buy” rating and a $150.00 price objective for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $140.00 target price (down previously from $150.00) on shares of Sun Communities in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $136.90.

Sun Communities Price Performance

Shares of NYSE:SUI opened at $125.53 on Monday. The company has a market capitalization of $16.02 billion, a PE ratio of 67.49 and a beta of 0.86. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a fifty day moving average of $126.09 and a 200-day moving average of $126.27. Sun Communities, Inc. has a one year low of $109.22 and a one year high of $147.83.

Sun Communities (NYSE:SUI) last announced its earnings results on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.08. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $470.20 million for the quarter, compared to analyst estimates of $538.63 million. During the same period in the previous year, the firm earned $1.19 earnings per share. Sun Communities’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.76 annualized dividend and a yield of 3.00%. Sun Communities’s payout ratio is presently 606.45%.

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.