Sun Communities, Inc. (NYSE:SUI) Shares Sold by Chilton Capital Management LLC

Chilton Capital Management LLC decreased its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 2.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,343 shares of the real estate investment trust's stock after selling 2,594 shares during the quarter. Chilton Capital Management LLC owned about 0.08% of Sun Communities worth $13,897,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cohen & Steers Inc. lifted its position in Sun Communities by 30.3% during the 4th quarter. Cohen & Steers Inc. now owns 16,373,446 shares of the real estate investment trust's stock worth $2,013,414,000 after acquiring an additional 3,811,528 shares during the period. Dodge & Cox lifted its position in Sun Communities by 61.1% during the 4th quarter. Dodge & Cox now owns 9,606,018 shares of the real estate investment trust's stock worth $1,181,252,000 after acquiring an additional 3,644,853 shares during the period. FMR LLC lifted its position in Sun Communities by 51.3% during the 4th quarter. FMR LLC now owns 7,917,870 shares of the real estate investment trust's stock worth $973,660,000 after acquiring an additional 2,684,214 shares during the period. Norges Bank acquired a new stake in Sun Communities during the 4th quarter worth about $888,783,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Sun Communities by 19.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,549,540 shares of the real estate investment trust's stock worth $682,429,000 after acquiring an additional 911,857 shares during the period. Institutional investors and hedge funds own 99.59% of the company's stock.

Wall Street Analyst Weigh In

SUI has been the subject of a number of research reports. Royal Bank Of Canada lowered their price target on Sun Communities from $154.00 to $147.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. JMP Securities reissued a "market outperform" rating and issued a $140.00 price objective on shares of Sun Communities in a report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft set a $135.00 price objective on Sun Communities and gave the company a "hold" rating in a report on Wednesday, June 25th. Robert W. Baird decreased their price objective on Sun Communities from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Finally, Jefferies Financial Group started coverage on Sun Communities in a report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Sun Communities presently has a consensus rating of "Hold" and an average target price of $138.08.

Insider Buying and Selling

In other news, Director Jeff Blau acquired 3,665 shares of the business's stock in a transaction on Friday, May 23rd. The stock was bought at an average cost of $117.99 per share, for a total transaction of $432,433.35. Following the purchase, the director owned 3,665 shares in the company, valued at approximately $432,433.35. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.89% of the company's stock.

Sun Communities Price Performance

Shares of Sun Communities stock traded down $0.43 on Tuesday, hitting $127.75. The company's stock had a trading volume of 332,929 shares, compared to its average volume of 852,808. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.25 and a current ratio of 2.25. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $147.83. The firm has a fifty day moving average price of $124.99 and a 200-day moving average price of $125.70. The company has a market capitalization of $16.31 billion, a price-to-earnings ratio of 206.05, a price-to-earnings-growth ratio of 8.81 and a beta of 0.86.

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 EPS for the quarter, topping the consensus estimate of $1.18 by $0.08. Sun Communities had a return on equity of 1.41% and a net margin of 2.85%. The company had revenue of $470.20 million during the quarter, compared to analyst estimates of $538.63 million. During the same period in the previous year, the business earned $1.19 EPS. Sun Communities's quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $1.04 per share. This is a positive change from Sun Communities's previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 3.26%. The ex-dividend date is Monday, June 30th. Sun Communities's payout ratio is 670.97%.

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.