9,125 Shares in Sun Communities, Inc. (NYSE:SUI) Bought by Vanderbilt University

Vanderbilt University bought a new stake in Sun Communities, Inc. (NYSE:SUI) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,125 shares of the real estate investment trust’s stock, valued at approximately $1,122,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Legacy Trust acquired a new position in Sun Communities in the 4th quarter valued at about $625,000. Aurora Investment Managers LLC. increased its holdings in shares of Sun Communities by 9.7% in the fourth quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock valued at $3,380,000 after purchasing an additional 2,435 shares during the period. Victory Capital Management Inc. raised its stake in shares of Sun Communities by 6.9% during the third quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock worth $10,434,000 after purchasing an additional 5,008 shares during the last quarter. VCI Wealth Management LLC acquired a new stake in shares of Sun Communities during the fourth quarter worth $1,312,000. Finally, FMR LLC grew 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 valued at $707,329,000 after buying an additional 1,430,630 shares during the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Stock Performance

NYSE:SUI opened at $126.30 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $16.09 billion, a P/E ratio of 67.90 and a beta of 0.90. The firm has a 50-day moving average price of $124.48 and a two-hundred day moving average price of $129.63. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business had revenue of $939.90 million for the quarter, compared to analysts’ expectations of $980.41 million. During the same period last year, the business earned $2.57 earnings per share. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, research analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities’s payout ratio is 202.15%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SUI shares. BMO Capital Markets cut their price target on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Evercore ISI increased their target price on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Baird R W downgraded Sun Communities from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Robert W. Baird cut Sun Communities from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $145.00 to $126.00 in a research report on Thursday, November 7th. Finally, Royal Bank of Canada reduced their target price on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $134.55.

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.