Anson Funds Management LP Takes $2.70 Million Position in Sun Communities, Inc. (NYSE:SUI)

Anson Funds Management LP bought a new position in Sun Communities, Inc. (NYSE:SUI - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 21,990 shares of the real estate investment trust's stock, valued at approximately $2,704,000.

Several other large investors have also recently bought and sold shares of SUI. AXA S.A. grew its holdings in Sun Communities by 12.6% during the fourth quarter. AXA S.A. now owns 199,553 shares of the real estate investment trust's stock valued at $24,539,000 after purchasing an additional 22,299 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in Sun Communities by 112.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,196 shares of the real estate investment trust's stock worth $1,008,000 after acquiring an additional 4,342 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Sun Communities in the fourth quarter valued at $716,000. Utah Retirement Systems lifted its position in Sun Communities by 0.5% during the 4th quarter. Utah Retirement Systems now owns 20,503 shares of the real estate investment trust's stock worth $2,521,000 after buying an additional 100 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Sun Communities by 48.3% in the fourth quarter. Northern Trust Corp now owns 1,107,394 shares of the real estate investment trust's stock worth $136,176,000 after acquiring an additional 360,774 shares during the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Performance

SUI traded down $0.21 on Wednesday, reaching $124.46. The company had a trading volume of 1,196,661 shares, compared to its average volume of 833,026. The stock has a market cap of $15.88 billion, a P/E ratio of 66.91 and a beta of 0.86. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $147.83. The company's fifty day moving average is $126.73 and its 200 day moving average is $126.60.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.08. The firm had revenue of $470.20 million during the quarter, compared to the consensus estimate of $538.63 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 EPS. As a group, analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Monday, March 31st. Sun Communities's payout ratio is presently 508.11%.

Analysts Set New Price Targets

SUI has been the topic of several recent research reports. Royal Bank of Canada decreased their price target on Sun Communities from $154.00 to $147.00 and set an "outperform" rating on the stock in a report on Wednesday. Truist Financial lowered their target price on Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Jefferies Financial Group assumed coverage on shares of Sun Communities in a research note on Tuesday, April 8th. They issued a "buy" rating and a $150.00 target price for the company. Finally, JMP Securities reiterated a "market outperform" rating and issued a $140.00 price objective (down from $150.00) on shares of Sun Communities in a report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $136.90.

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.