Capital International Investors Takes Position in Sun Communities, Inc. (NYSE:SUI)

Capital International Investors purchased a new stake in Sun Communities, Inc. (NYSE:SUI) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 444,894 shares of the real estate investment trust’s stock, valued at approximately $54,709,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Legacy Trust acquired a new stake in shares of Sun Communities in the fourth quarter worth approximately $625,000. Aurora Investment Managers LLC. lifted its holdings in Sun Communities by 9.7% in the 4th 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Sun Communities by 16.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust’s stock worth $95,885,000 after purchasing an additional 108,054 shares during the last quarter. VCI Wealth Management LLC purchased a new stake in shares of Sun Communities during the fourth quarter worth $1,312,000. Finally, Vert Asset Management LLC grew its holdings in shares of Sun Communities by 9.9% during the fourth quarter. Vert Asset Management LLC now owns 56,083 shares of the real estate investment trust’s stock worth $6,897,000 after buying an additional 5,060 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Price Performance

NYSE:SUI opened at $123.18 on Monday. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $147.83. The stock’s fifty day moving average is $127.59 and its two-hundred day moving average is $127.09. The company has a market capitalization of $15.72 billion, a P/E ratio of 66.22 and a beta of 0.84. 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 (NYSE:SUI) last issued its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. The firm 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 expect that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.94 dividend. The ex-dividend date was Monday, March 31st. This represents a $3.76 annualized dividend and a dividend yield of 3.05%. Sun Communities’s dividend payout ratio is currently 508.11%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SUI shares. Jefferies Financial Group initiated coverage on shares of Sun Communities in a research report on Tuesday, April 8th. They set a “buy” rating and a $150.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Finally, Truist Financial dropped their price target on Sun Communities from $142.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Sun Communities presently has an average rating of “Hold” and a consensus 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.