Cerity Partners LLC Has $3.66 Million Stake in Sun Communities, Inc. (NYSE:SUI)

Cerity Partners LLC lessened its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 12.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 27,366 shares of the real estate investment trust's stock after selling 3,980 shares during the period. Cerity Partners LLC's holdings in Sun Communities were worth $3,655,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Toronto Dominion Bank lifted its position in shares of Sun Communities by 31.6% during the third quarter. Toronto Dominion Bank now owns 15,682 shares of the real estate investment trust's stock worth $2,119,000 after purchasing an additional 3,766 shares in the last quarter. Virtu Financial LLC bought a new position in Sun Communities in the 3rd quarter worth approximately $1,564,000. Central Pacific Bank Trust Division lifted its holdings in Sun Communities by 97.2% during the 4th quarter. Central Pacific Bank Trust Division now owns 3,500 shares of the real estate investment trust's stock worth $430,000 after buying an additional 1,725 shares in the last quarter. Nordea Investment Management AB boosted its position 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 buying an additional 756 shares during the last quarter. Finally, First Hawaiian Bank boosted its position in Sun Communities by 29.4% in the 4th quarter. First Hawaiian Bank now owns 22,440 shares of the real estate investment trust's stock valued at $2,759,000 after buying an additional 5,100 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Trading Up 1.2 %

NYSE SUI traded up $1.48 during trading on Friday, reaching $123.18. 418,560 shares of the stock traded hands, compared to its average volume of 837,084. The stock's 50-day moving average price is $127.65 and its 200 day moving average price is $127.23. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The firm has a market cap of $15.72 billion, a price-to-earnings ratio of 66.22 and a beta of 0.84. 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 released its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, beating analysts' consensus estimates 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%. Analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Monday, March 31st. Sun Communities's dividend payout ratio (DPR) is presently 508.11%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SUI shares. Truist Financial cut their price target on Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Jefferies Financial Group started 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. Finally, Royal Bank of Canada reaffirmed an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $136.70.

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.