Ossiam Lowers Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Ossiam lessened its position in Sun Communities, Inc. (NYSE:SUI) by 12.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,408 shares of the real estate investment trust’s stock after selling 1,168 shares during the quarter. Ossiam’s holdings in Sun Communities were worth $1,034,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd increased its stake in Sun Communities by 263.6% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 232 shares during the period. Smartleaf Asset Management LLC increased its holdings in Sun Communities by 45.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 124 shares during the last quarter. CKW Financial Group increased its holdings in Sun Communities by 45.0% in the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 135 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Sun Communities by 17.2% in the fourth quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 123 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings 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 worth $131,000 after buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Performance

NYSE:SUI opened at $121.19 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market cap of $15.46 billion, a price-to-earnings ratio of 65.16 and a beta of 0.84. The firm’s fifty day moving average price is $127.52 and its 200 day moving average price is $127.03. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $147.83.

Sun Communities (NYSE:SUI) last issued its quarterly 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. The business had revenue of $745.90 million for 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%. On average, sell-side analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.10%. Sun Communities’s dividend payout ratio (DPR) is presently 508.11%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $140.00 target price (down previously from $150.00) on shares of Sun Communities in a research report on Monday. Truist Financial cut their price target on shares of Sun Communities from $142.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Jefferies Financial Group started coverage on Sun Communities in a research report on Tuesday, April 8th. They issued a “buy” rating and a $150.00 target price for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $135.70.

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.