Sun Communities, Inc. (NYSE:SUI) Shares Sold by Greenland Capital Management LP

Greenland Capital Management LP decreased its position in Sun Communities, Inc. (NYSE:SUI) by 66.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,000 shares of the real estate investment trust’s stock after selling 47,699 shares during the period. Greenland Capital Management LP’s holdings in Sun Communities were worth $2,951,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SUI. FMR LLC boosted its position in shares of Sun Communities by 51.3% during the fourth quarter. FMR LLC now owns 7,917,870 shares of the real estate investment trust’s stock worth $973,660,000 after buying an additional 2,684,214 shares during the period. Norges Bank bought a new stake in Sun Communities during the 4th quarter valued at $888,783,000. Daiwa Securities Group Inc. boosted its position in Sun Communities by 23.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,344,020 shares of the real estate investment trust’s stock worth $288,244,000 after acquiring an additional 442,557 shares during the period. Geode Capital Management LLC grew its stake in shares of Sun Communities by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 2,143,173 shares of the real estate investment trust’s stock worth $263,069,000 after purchasing an additional 48,846 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Sun Communities by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,123,440 shares of the real estate investment trust’s stock valued at $138,149,000 after purchasing an additional 47,899 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SUI shares. Truist Financial increased their target price on shares of Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Jefferies Financial Group decreased their price objective on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company lowered their price objective on shares of 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. Finally, Royal Bank of Canada restated an “outperform” rating on shares of Sun Communities in a research report 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $136.60.

Sun Communities Trading Down 4.1 %

NYSE:SUI opened at $119.25 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a 1-year low of $110.98 and a 1-year high of $147.83. The firm has a market capitalization of $15.22 billion, a price-to-earnings ratio of 64.12 and a beta of 0.84. The stock has a fifty day simple moving average of $128.80 and a 200 day simple moving average of $128.24.

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

Sun Communities Announces Dividend

The firm also recently declared 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. The ex-dividend date is Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.15%. Sun Communities’s dividend 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.