Burns Matteson Capital Management LLC Has $1.40 Million Stake in Sun Communities, Inc. (NYSE:SUI)

Burns Matteson Capital Management LLC cut its holdings in Sun Communities, Inc. (NYSE:SUI) by 4.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 11,411 shares of the real estate investment trust’s stock after selling 581 shares during the period. Burns Matteson Capital Management LLC’s holdings in Sun Communities were worth $1,403,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Legacy Trust bought a new position in Sun Communities during the 4th quarter worth approximately $625,000. Aurora Investment Managers LLC. grew its holdings in shares of Sun Communities by 9.7% in the 4th quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock valued at $3,380,000 after buying an additional 2,435 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Sun Communities by 16.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust’s stock worth $95,885,000 after purchasing an additional 108,054 shares during the period. Victory Capital Management Inc. grew its position in shares of Sun Communities by 6.9% in the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock valued at $10,434,000 after purchasing an additional 5,008 shares during the period. Finally, VCI Wealth Management LLC acquired a new stake in Sun Communities during the 4th quarter worth approximately $1,312,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Trading Down 0.1 %

SUI stock opened at $125.27 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. The company has a market capitalization of $15.96 billion, a PE ratio of 67.35 and a beta of 0.90. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83. The company’s 50-day simple moving average is $124.35 and its 200 day simple moving average is $129.61.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 annualized dividend and a yield of 3.00%. Sun Communities’s dividend payout ratio is presently 202.15%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SUI. Jefferies Financial Group reduced 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 note on Thursday, January 2nd. Bank of America cut Sun Communities from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $147.00 to $114.00 in a research report on Tuesday, November 12th. Royal Bank of Canada lowered their price objective on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. BMO Capital Markets reduced their price target on Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Finally, Robert W. Baird downgraded Sun Communities from an “outperform” rating to a “neutral” rating and cut their price target for the company from $145.00 to $126.00 in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $134.55.

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.