Boothbay Fund Management LLC cut its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 90.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,134 shares of the real estate investment trust's stock after selling 59,933 shares during the period. Boothbay Fund Management LLC's holdings in Sun Communities were worth $754,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Sun Communities in the third quarter valued at $1,564,000. 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 purchasing an additional 1,725 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Sun Communities by 7.7% in the 4th quarter. Nordea Investment Management AB now owns 10,633 shares of the real estate investment trust's stock valued at $1,307,000 after purchasing an additional 756 shares in the last quarter. First Hawaiian Bank boosted its stake in shares of Sun Communities by 29.4% during the 4th quarter. First Hawaiian Bank now owns 22,440 shares of the real estate investment trust's stock worth $2,759,000 after purchasing an additional 5,100 shares during the last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of Sun Communities by 4.4% during the fourth quarter. Park Avenue Securities LLC now owns 4,811 shares of the real estate investment trust's stock worth $592,000 after buying an additional 203 shares in the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.
Sun Communities Trading Up 1.4 %
SUI stock traded up $1.77 during midday trading on Friday, reaching $132.15. 805,413 shares of the company's stock traded hands, compared to its average volume of 829,876. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $147.83. The business has a 50-day moving average price of $126.97 and a two-hundred day moving average price of $126.73. The company has a market capitalization of $16.86 billion, a P/E 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.
Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings results 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 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%. Equities research analysts forecast that Sun Communities, Inc. will post 6.77 EPS 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 paid a $0.94 dividend. The ex-dividend date was Monday, March 31st. This represents a $3.76 annualized dividend and a dividend yield of 2.85%. Sun Communities's dividend payout ratio (DPR) is presently 508.11%.
Analysts Set New Price Targets
SUI has been the topic of a number of analyst reports. Jefferies Financial Group assumed coverage on shares of Sun Communities in a research report on Tuesday, April 8th. They set a "buy" rating and a $150.00 target price on the stock. Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Truist Financial dropped 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. Finally, JMP Securities reissued a "market outperform" rating and issued a $140.00 price target (down from $150.00) on shares of Sun Communities in a research note on Monday, April 21st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $135.70.
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About Sun Communities
(
Free Report)
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.
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