Sun Communities, Inc. (NYSE:SUI) Position Lessened by Adelante Capital Management LLC

Adelante Capital Management LLC lowered its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 71.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 159,147 shares of the real estate investment trust's stock after selling 399,982 shares during the quarter. Sun Communities comprises 1.2% of Adelante Capital Management LLC's portfolio, making the stock its 23rd biggest holding. Adelante Capital Management LLC owned 0.12% of Sun Communities worth $19,571,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SUI. Aster Capital Management DIFC Ltd increased its position 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 acquiring an additional 232 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Sun Communities by 45.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 124 shares in the last quarter. CKW Financial Group boosted its position in Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock worth $53,000 after acquiring an additional 135 shares during the last quarter. Natixis purchased a new stake in shares of Sun Communities in the fourth quarter valued at about $90,000. Finally, Quadrant Capital Group LLC lifted its position in Sun Communities by 17.2% in the fourth quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock valued at $103,000 after buying an additional 123 shares during the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SUI. Truist Financial cut their target price on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Jefferies Financial Group assumed coverage on Sun Communities in a research report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target for the company. Finally, JMP Securities restated a "market outperform" rating and set a $140.00 price objective (down from $150.00) on shares of Sun Communities in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $135.70.

Sun Communities Price Performance

Shares of NYSE:SUI traded up $1.77 on Friday, reaching $132.15. 805,413 shares of the company traded hands, compared to its average volume of 829,876. The stock has a market capitalization of $16.86 billion, a PE ratio of 71.05 and a beta of 0.86. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The company's 50 day moving average is $126.97 and its 200-day moving average is $126.73. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last announced its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. The business had revenue of $745.90 million during the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. As a group, analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Monday, March 31st. Sun Communities's payout ratio is 508.11%.

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.