Sun Communities, Inc. (NYSE:SUI) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 2.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,829,816 shares of the real estate investment trust's stock after acquiring an additional 49,404 shares during the period. Dimensional Fund Advisors LP owned about 1.44% of Sun Communities worth $225,012,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Aster Capital Management DIFC Ltd boosted its holdings in shares of Sun Communities by 263.6% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 232 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Sun Communities by 45.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 124 shares during the last quarter. CKW Financial Group boosted its holdings in shares of Sun Communities by 45.0% in the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock valued at $53,000 after acquiring an additional 135 shares during the period. Quadrant Capital Group LLC grew its position in shares of Sun Communities by 17.2% during 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 last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of 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 valued at $131,000 after acquiring an additional 84 shares during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Price Performance

Shares of SUI traded up $0.86 during trading hours on Monday, reaching $123.18. The company had a trading volume of 81,108 shares, compared to its average volume of 836,830. 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 12-month low of $109.22 and a 12-month high of $147.83. The firm has a 50 day simple moving average of $127.22 and a 200-day simple moving average of $126.88. The company has a market capitalization of $15.72 billion, a price-to-earnings ratio of 66.24 and a beta of 0.84.

Sun Communities (NYSE:SUI - Get Free Report) last issued its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.02. The company 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%. Research analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Truist Financial decreased their price target on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. JMP Securities restated a "market outperform" rating and issued a $140.00 price target (down previously from $150.00) on shares of Sun Communities in a research report on Monday, April 21st. Finally, Jefferies Financial Group started coverage on Sun Communities in a research report on Tuesday, April 8th. They set a "buy" rating and a $150.00 price objective for the company. Two 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $135.70.

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.