Sun Communities, Inc. (NYSE:SUI) Stake Lessened by Aviva PLC

Aviva PLC lessened its holdings in Sun Communities, Inc. (NYSE:SUI) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,589 shares of the real estate investment trust’s stock after selling 100 shares during the period. Aviva PLC’s holdings in Sun Communities were worth $564,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Sun Communities by 8.5% in 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 acquiring an additional 84 shares in the last quarter. Cascade Investment Advisors Inc. increased its holdings in shares of Sun Communities by 0.8% in the 4th quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust’s stock valued at $1,276,000 after purchasing an additional 85 shares during the period. Cetera Trust Company N.A lifted its position in shares of Sun Communities by 6.0% in the fourth quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust’s stock worth $229,000 after purchasing an additional 105 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Sun Communities by 45.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 124 shares during the period. Finally, Argonautica Private Wealth Management Inc. boosted its holdings in shares of Sun Communities by 4.5% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 2,901 shares of the real estate investment trust’s stock worth $357,000 after purchasing an additional 126 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Price Performance

NYSE SUI opened at $118.79 on Friday. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $147.83. The stock’s 50-day moving average is $128.01 and its two-hundred day moving average is $127.65. The firm has a market cap of $15.16 billion, a P/E ratio of 63.87 and a beta of 0.84. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61.

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, beating analysts’ consensus estimates of $1.39 by $0.02. The business had revenue of $745.90 million for the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. On average, analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 3.17%. The ex-dividend date of this dividend is Monday, March 31st. Sun Communities’s dividend payout ratio is currently 508.11%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SUI. Jefferies Financial Group assumed coverage on shares of Sun Communities in a research report on Tuesday. They issued a “buy” rating and a $150.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Finally, Truist Financial reduced their price objective on Sun Communities from $142.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $136.70.

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.