Xponance Inc. Purchases 1,530 Shares of Sun Communities, Inc. (NYSE:SUI)

Xponance Inc. increased its position in Sun Communities, Inc. (NYSE:SUI) by 14.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,383 shares of the real estate investment trust’s stock after purchasing an additional 1,530 shares during the period. Xponance Inc.’s holdings in Sun Communities were worth $1,523,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Signaturefd LLC boosted its stake in Sun Communities by 14.3% in the 4th quarter. Signaturefd LLC now owns 1,639 shares of the real estate investment trust’s stock worth $202,000 after purchasing an additional 205 shares in the last quarter. Cibc World Markets Corp boosted its stake in Sun Communities by 5.9% in the 4th quarter. Cibc World Markets Corp now owns 40,472 shares of the real estate investment trust’s stock worth $4,977,000 after purchasing an additional 2,239 shares in the last quarter. First National Advisers LLC boosted its stake in Sun Communities by 1.2% in the 4th quarter. First National Advisers LLC now owns 11,689 shares of the real estate investment trust’s stock worth $1,437,000 after purchasing an additional 134 shares in the last quarter. Vestcor Inc boosted its stake in Sun Communities by 295.8% in the 4th quarter. Vestcor Inc now owns 11,539 shares of the real estate investment trust’s stock worth $1,419,000 after purchasing an additional 8,624 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Sun Communities by 1,776.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,614 shares of the real estate investment trust’s stock worth $198,000 after buying an additional 1,528 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Truist Financial raised their price target on shares of Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a report on Monday, March 10th. Wells Fargo & Company dropped their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. Finally, Jefferies Financial Group dropped their price target on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Two equities research 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. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $136.60.

Sun Communities Price Performance

Shares of NYSE:SUI opened at $131.00 on Friday. The firm’s 50 day moving average price is $128.23 and its 200-day moving average price is $129.46. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $16.69 billion, a PE ratio of 70.43 and a beta of 0.90.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, topping the consensus estimate 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. Equities research analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Monday, March 31st. Sun Communities’s payout ratio is 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.