Sun Communities, Inc. (NYSE:SUI) Holdings Boosted by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina grew its holdings in Sun Communities, Inc. (NYSE:SUI) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,714 shares of the real estate investment trust’s stock after purchasing an additional 290 shares during the period. Treasurer of the State of North Carolina’s holdings in Sun Communities were worth $6,851,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Aster Capital Management DIFC Ltd boosted its holdings in shares of 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 boosted its stake in shares of Sun Communities by 45.1% during the 4th 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 period. CKW Financial Group boosted its stake in shares of Sun Communities by 45.0% during the 4th 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 period. Quadrant Capital Group LLC grew its holdings in shares of Sun Communities by 17.2% during the 4th quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 123 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Sun Communities by 8.5% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. 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. Royal Bank of Canada reissued an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Finally, Jefferies Financial Group began coverage on Sun Communities in a report on Tuesday, April 8th. They issued a “buy” rating and a $150.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sun Communities presently has a consensus rating of “Hold” and an average target price of $136.70.

Sun Communities Trading Up 1.2 %

Shares of SUI stock opened at $120.36 on Monday. The business’s 50 day moving average is $127.89 and its two-hundred day moving average is $127.47. 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 12 month low of $109.22 and a 12 month high of $147.83. The company has a market cap of $15.36 billion, a PE ratio of 64.71 and a beta of 0.84.

Sun Communities (NYSE:SUI) last posted its 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. 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%. Equities analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given 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 3.12%. Sun Communities’s dividend payout ratio is presently 508.11%.

About Sun Communities

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.