Ensign Peak Advisors Inc Decreases Position in Sun Communities, Inc. (NYSE:SUI)

Ensign Peak Advisors Inc decreased its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,872 shares of the real estate investment trust's stock after selling 6,614 shares during the period. Ensign Peak Advisors Inc's holdings in Sun Communities were worth $7,117,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd increased its stake in 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 during the last quarter. Smartleaf Asset Management LLC increased its stake 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 valued at $49,000 after buying an additional 124 shares during the last quarter. CKW Financial Group increased its stake in Sun Communities by 45.0% in the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 135 shares during the last quarter. Natixis purchased a new stake in Sun Communities in the 4th quarter valued at about $90,000. Finally, Quadrant Capital Group LLC increased its stake in Sun Communities by 17.2% in the 4th quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock valued at $103,000 after buying an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company's stock.

Sun Communities Price Performance

NYSE:SUI traded up $2.22 during trading hours on Friday, hitting $123.43. The stock had a trading volume of 576,349 shares, compared to its average volume of 836,645. The company has a 50 day simple moving average of $125.14 and a two-hundred day simple moving average of $126.02. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market capitalization of $15.75 billion, a price-to-earnings ratio of 66.36 and a beta of 0.86. Sun Communities, Inc. has a one year low of $109.22 and a one year high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.08. The firm had revenue of $470.20 million for the quarter, compared to analysts' expectations of $538.63 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business's quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company posted $1.19 EPS. Research analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Monday, March 31st. Sun Communities's dividend payout ratio (DPR) is currently 606.45%.

Wall Street Analyst Weigh In

SUI has been the subject of several analyst reports. JMP Securities reiterated a "market outperform" rating and issued a $140.00 price objective (down previously from $150.00) on shares of Sun Communities in a research note on Monday, April 21st. Royal Bank of Canada reduced their target price on shares of Sun Communities from $154.00 to $147.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Jefferies Financial Group initiated 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 for the company. Truist Financial reduced their target price on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, Robert W. Baird cut their price objective on shares of Sun Communities from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $138.70.

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.