Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Holdings in Sun Communities, Inc. (NYSE:SUI)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 86.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,122 shares of the real estate investment trust’s stock after buying an additional 18,547 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Sun Communities were worth $4,934,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Sun Communities by 278.3% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 21,278 shares of the real estate investment trust’s stock valued at $2,617,000 after buying an additional 15,653 shares during the period. Xponance Inc. increased its holdings in Sun Communities by 14.1% during the fourth quarter. Xponance Inc. now owns 12,383 shares of the real estate investment trust’s stock valued at $1,523,000 after buying an additional 1,530 shares during the period. Signaturefd LLC increased its holdings in Sun Communities by 14.3% during the fourth quarter. Signaturefd LLC now owns 1,639 shares of the real estate investment trust’s stock valued at $202,000 after buying an additional 205 shares during the period. Cibc World Markets Corp increased its holdings in Sun Communities by 5.9% during the fourth quarter. Cibc World Markets Corp now owns 40,472 shares of the real estate investment trust’s stock valued at $4,977,000 after buying an additional 2,239 shares during the period. Finally, First National Advisers LLC increased its holdings in Sun Communities by 1.2% during the fourth quarter. First National Advisers LLC now owns 11,689 shares of the real estate investment trust’s stock valued at $1,437,000 after buying an additional 134 shares during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Trading Down 0.5 %

NYSE:SUI opened at $131.00 on Friday. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. The firm has a fifty day simple moving average of $128.23 and a 200-day simple moving average of $129.46. 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 $16.69 billion, a P/E ratio of 70.43 and a beta of 0.90.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $724.68 million. On average, equities research analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Monday, March 31st. This represents a $3.76 annualized dividend and a dividend yield of 2.87%. Sun Communities’s dividend payout ratio (DPR) is presently 508.11%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Truist Financial lifted their price objective on shares of Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a report on Monday, March 10th. Jefferies Financial Group lowered their target price on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Wells Fargo & Company lowered their target price on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company 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 note on Friday, February 28th. Two equities 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.