Sun Communities, Inc. (NYSE:SUI) Shares Bought by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co grew its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 176,926 shares of the real estate investment trust's stock after buying an additional 11,087 shares during the period. CANADA LIFE ASSURANCE Co owned 0.14% of Sun Communities worth $21,739,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Sun Communities by 8.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust's stock worth $131,000 after purchasing an additional 84 shares in the last quarter. Cascade Investment Advisors Inc. lifted its stake in Sun Communities by 0.8% during the 4th quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust's stock valued at $1,276,000 after acquiring an additional 85 shares during the period. Cetera Trust Company N.A boosted its holdings in shares of Sun Communities by 6.0% during the 4th quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust's stock valued at $229,000 after acquiring an additional 105 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of 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 worth $103,000 after acquiring an additional 123 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in Sun Communities by 45.1% in the 4th 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 during the period. Hedge funds and other institutional investors own 99.59% of the company's stock.

Sun Communities Stock Up 0.3 %

Shares of SUI traded up $0.33 during mid-day trading on Friday, hitting $122.53. The company's stock had a trading volume of 192,541 shares, compared to its average volume of 835,005. The firm has a market capitalization of $15.63 billion, a price-to-earnings ratio of 65.85 and a beta of 0.84. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a 52-week low of $109.22 and a 52-week high of $147.83. The company's 50-day moving average is $127.29 and its 200-day moving average is $126.92.

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

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Monday, March 31st. Sun Communities's dividend payout ratio (DPR) is presently 508.11%.

Analysts Set New Price Targets

SUI has been the subject of several analyst reports. Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. Truist Financial cut their price target on Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, April 10th. JMP Securities restated a "market outperform" rating and issued a $140.00 target price (down from $150.00) on shares of Sun Communities in a report on Monday. Finally, Jefferies Financial Group began coverage on Sun Communities in a report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 target price for the company. Two investment 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. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $135.70.

About Sun Communities

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.