21,187 Shares in Sun Communities, Inc. (NYSE:SUI) Purchased by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. purchased a new position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 21,187 shares of the real estate investment trust's stock, valued at approximately $2,725,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SUI. Smartleaf Asset Management LLC grew its position in Sun Communities by 45.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock worth $49,000 after buying an additional 124 shares during the period. Mutual of America Capital Management LLC grew its holdings in shares of Sun Communities by 4.4% in the 4th quarter. Mutual of America Capital Management LLC now owns 18,451 shares of the real estate investment trust's stock worth $2,269,000 after acquiring an additional 772 shares during the period. LPL Financial LLC grew its holdings in shares of Sun Communities by 22.3% in the 4th quarter. LPL Financial LLC now owns 25,560 shares of the real estate investment trust's stock worth $3,143,000 after acquiring an additional 4,665 shares during the period. Freestone Grove Partners LP purchased a new position in Sun Communities in the 4th quarter valued at approximately $716,000. Finally, Yousif Capital Management LLC raised its holdings in Sun Communities by 4.2% during the first quarter. Yousif Capital Management LLC now owns 6,575 shares of the real estate investment trust's stock worth $846,000 after purchasing an additional 263 shares during the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on SUI shares. Bank of America boosted their target price on Sun Communities from $124.00 to $132.00 and gave the stock an "underperform" rating in a research report on Monday, May 12th. Wall Street Zen lowered shares of Sun Communities from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Colliers Securities began coverage on shares of Sun Communities in a report on Friday, June 13th. They set a "neutral" rating and a $130.00 target price for the company. Royal Bank Of Canada reduced their price target on shares of Sun Communities from $154.00 to $147.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, Truist Financial set a $137.00 price objective on shares of Sun Communities and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $138.08.

Sun Communities Stock Down 1.2%

Shares of SUI traded down $1.50 during mid-day trading on Friday, reaching $126.63. The company's stock had a trading volume of 1,813,335 shares, compared to its average volume of 853,319. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 1.01. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $147.83. The business has a fifty day moving average of $124.25 and a 200 day moving average of $125.39. The company has a market cap of $16.16 billion, a price-to-earnings ratio of 204.25, a price-to-earnings-growth ratio of 8.73 and a beta of 0.86.

Sun Communities (NYSE:SUI - Get Free Report) last posted its earnings results on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.08. The firm had revenue of $470.20 million during the quarter, compared to analysts' expectations of $538.63 million. Sun Communities had a net margin of 2.85% and a return on equity of 1.41%. The company's revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.19 earnings per share. As a group, analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $1.04 per share. The ex-dividend date is Monday, June 30th. This represents a $4.16 dividend on an annualized basis and a yield of 3.29%. This is a positive change from Sun Communities's previous quarterly dividend of $0.94. Sun Communities's payout ratio is 606.45%.

Insider Buying and Selling

In related news, Director Jeff Blau purchased 3,665 shares of Sun Communities stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average price of $117.99 per share, for a total transaction of $432,433.35. Following the transaction, the director now directly owns 3,665 shares in the company, valued at approximately $432,433.35. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.77% of the stock is currently owned by insiders.

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.