UniSuper Management Pty Ltd Sells 700 Shares of Sun Communities, Inc. (NYSE:SUI)

UniSuper Management Pty Ltd trimmed its holdings in Sun Communities, Inc. (NYSE:SUI) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 37,100 shares of the real estate investment trust’s stock after selling 700 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Sun Communities were worth $4,562,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SUI. Cerity Partners LLC raised its stake in shares of Sun Communities by 56.4% in the third quarter. Cerity Partners LLC now owns 31,346 shares of the real estate investment trust’s stock worth $4,236,000 after acquiring an additional 11,305 shares during the last quarter. FMR LLC raised its position in Sun Communities by 37.6% in the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock worth $707,329,000 after purchasing an additional 1,430,630 shares during the last quarter. Brooklyn Investment Group acquired a new position in Sun Communities during the 3rd quarter worth $41,000. BNP Paribas Financial Markets boosted its position in Sun Communities by 53.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 106,103 shares of the real estate investment trust’s stock valued at $14,340,000 after buying an additional 36,828 shares during the last quarter. Finally, Townsquare Capital LLC acquired a new stake in shares of Sun Communities in the 3rd quarter valued at $252,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Up 1.5 %

Shares of NYSE SUI opened at $130.04 on Friday. Sun Communities, Inc. has a 52-week low of $110.98 and a 52-week high of $147.83. 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 market cap of $16.59 billion, a P/E ratio of 69.91 and a beta of 0.90. The firm has a 50 day moving average price of $128.88 and a 200 day moving average price of $129.19.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. The company had revenue of $745.90 million during the quarter, compared to analyst estimates of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. Analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Monday, March 31st. Sun Communities’s dividend payout ratio (DPR) is presently 508.11%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SUI. Wells Fargo & Company cut their price target on 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. Jefferies Financial Group dropped their price objective on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Truist Financial raised their target price on shares of Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Two equities research 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. According to MarketBeat, Sun Communities has a consensus rating of “Hold” and an average target price of $136.60.

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.