Ameriprise Financial Inc. Has $6.07 Million Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Ameriprise Financial Inc. decreased its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 40.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,250 shares of the real estate investment trust's stock after selling 33,900 shares during the quarter. Ameriprise Financial Inc.'s holdings in Sun Communities were worth $6,065,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in SUI. Exchange Traded Concepts LLC raised its holdings in shares of Sun Communities by 20.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,559 shares of the real estate investment trust's stock valued at $192,000 after purchasing an additional 267 shares in the last quarter. Fifth Third Bancorp raised its holdings in Sun Communities by 18.0% during the fourth quarter. Fifth Third Bancorp now owns 6,544 shares of the real estate investment trust's stock valued at $805,000 after buying an additional 996 shares in the last quarter. Blue Trust Inc. raised its holdings in Sun Communities by 86.2% during the fourth quarter. Blue Trust Inc. now owns 1,164 shares of the real estate investment trust's stock valued at $157,000 after buying an additional 539 shares in the last quarter. CKW Financial Group lifted its position 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 worth $53,000 after buying an additional 135 shares during the last quarter. Finally, Cascade Investment Advisors Inc. boosted its stake in shares of 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 worth $1,276,000 after acquiring an additional 85 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company's stock.

Sun Communities Stock Up 2.0%

Shares of SUI stock traded up $2.38 on Tuesday, hitting $122.31. 627,795 shares of the stock were exchanged, compared to its average volume of 834,965. The business has a 50-day moving average of $124.13 and a 200 day moving average of $125.60. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $15.61 billion, a P/E ratio of 65.76 and a beta of 0.86. 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 issued its earnings results on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.08. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $470.20 million for the quarter, compared to the consensus estimate of $538.63 million. During the same period in the previous year, the company earned $1.19 earnings per share. The firm's revenue for the quarter was up .2% on a year-over-year basis. Equities analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.94 dividend. The ex-dividend date was Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a yield of 3.07%. Sun Communities's dividend payout ratio (DPR) is currently 606.45%.

Analyst Ratings Changes

SUI has been the subject of several recent analyst reports. Royal Bank of Canada decreased their price objective on shares of Sun Communities from $154.00 to $147.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Truist Financial dropped their price objective on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Bank of America upped their price target on shares of Sun Communities from $124.00 to $132.00 and gave the stock an "underperform" rating in a research report on Monday, May 12th. JMP Securities restated a "market outperform" rating and set a $140.00 target price on shares of Sun Communities in a research report on Tuesday, May 20th. Finally, Jefferies Financial Group assumed coverage on shares of Sun Communities in a report on Tuesday, April 8th. They set a "buy" rating and a $150.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $138.70.

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.