65,100 Shares in Sun Communities, Inc. (NYSE:SUI) Purchased by APG Asset Management N.V.

APG Asset Management N.V. acquired a new position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 65,100 shares of the real estate investment trust's stock, valued at approximately $7,731,000. APG Asset Management N.V. owned about 0.05% of Sun Communities at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SUI. Quantinno Capital Management LP grew its stake in Sun Communities by 22.0% in the third quarter. Quantinno Capital Management LP now owns 7,695 shares of the real estate investment trust's stock valued at $1,040,000 after purchasing an additional 1,390 shares in the last quarter. Vestcor Inc grew its position in shares of Sun Communities by 36.9% in the 3rd quarter. Vestcor Inc now owns 2,915 shares of the real estate investment trust's stock valued at $394,000 after purchasing an additional 785 shares during the period. Toronto Dominion Bank raised its position in Sun Communities by 31.6% in the 3rd quarter. Toronto Dominion Bank now owns 15,682 shares of the real estate investment trust's stock valued at $2,119,000 after buying an additional 3,766 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Sun Communities during the 3rd quarter worth approximately $1,564,000. Finally, Central Pacific Bank Trust Division raised its stake in Sun Communities by 97.2% in the 4th quarter. Central Pacific Bank Trust Division now owns 3,500 shares of the real estate investment trust's stock valued at $430,000 after acquiring an additional 1,725 shares during the period. Institutional investors and hedge funds own 99.59% of the company's stock.

Wall Street Analysts Forecast Growth

SUI has been the topic of several research reports. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Jefferies Financial Group initiated coverage on Sun Communities in a research note on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price objective on the stock. Finally, Truist Financial lowered their price objective on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $136.70.

Sun Communities Stock Down 0.3 %

NYSE SUI traded down $0.36 on Wednesday, hitting $122.12. 128,260 shares of the stock traded hands, compared to its average volume of 833,554. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $147.83. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $15.58 billion, a P/E ratio of 65.66 and a beta of 0.84. The stock has a 50-day moving average of $127.76 and a 200 day moving average of $127.35.

Sun Communities (NYSE:SUI - Get Free Report) last released its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share 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 analysts' expectations of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. As a group, analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.94 per share. The ex-dividend date was Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a yield of 3.08%. Sun Communities's dividend payout ratio (DPR) is presently 508.11%.

Sun Communities 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.