Thurston Springer Miller Herd & Titak Inc. Buys 84 Shares of Sun Communities, Inc. (NYSE:SUI)

Thurston Springer Miller Herd & Titak Inc. grew its stake in Sun Communities, Inc. (NYSE:SUI) by 8.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,069 shares of the real estate investment trust’s stock after acquiring an additional 84 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Sun Communities were worth $131,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Assetmark Inc. increased its stake in Sun Communities by 2,111.1% in the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Sun Communities in the 3rd quarter valued at $41,000. Quest Partners LLC increased its position in shares of Sun Communities by 12,700.0% in the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 381 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Sun Communities during the 3rd quarter worth $60,000. Finally, Farther Finance Advisors LLC grew its stake in Sun Communities by 89.1% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after acquiring an additional 236 shares during the period. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SUI shares. Baird R W lowered Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Truist Financial dropped their target price on shares of Sun Communities from $138.00 to $131.00 and set a “hold” rating on the stock in a report on Wednesday, December 11th. UBS Group cut shares of Sun Communities from a “buy” rating to a “neutral” rating and reduced their price target for the company from $155.00 to $134.00 in a report on Thursday, November 14th. Bank of America lowered shares of Sun Communities from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $147.00 to $114.00 in a report on Tuesday, November 12th. Finally, StockNews.com lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Sun Communities has an average rating of “Hold” and a consensus target price of $135.69.

Sun Communities Stock Up 2.3 %

NYSE:SUI opened at $123.50 on Friday. The firm has a market capitalization of $15.73 billion, a price-to-earnings ratio of 66.40, a price-to-earnings-growth ratio of 0.49 and a beta of 0.89. 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 twelve month low of $110.98 and a twelve month high of $147.83. The stock’s 50 day moving average price is $124.37 and its two-hundred day moving average price is $129.10.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.20). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. During the same period last year, the company posted $2.57 earnings per share. The business’s revenue was down 4.4% compared to the same quarter last year. Equities research analysts expect that Sun Communities, Inc. will post 6.78 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Tuesday, December 31st. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

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.