Chilton Capital Management LLC Cuts Stake in Sun Communities, Inc. (NYSE:SUI)

Chilton Capital Management LLC cut its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 2.4% in the first quarter, according to the company in its most recent disclosure with the 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 0.08% of Sun Communities worth $13,897,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SUI. Utah Retirement Systems grew its stake in Sun Communities by 0.5% in the fourth quarter. Utah Retirement Systems now owns 20,503 shares of the real estate investment trust's stock worth $2,521,000 after purchasing an additional 100 shares in the last quarter. Cascade Investment Advisors Inc. lifted its stake in Sun Communities by 1.0% during the 1st quarter. Cascade Investment Advisors Inc. now owns 10,473 shares of the real estate investment trust's stock valued at $1,347,000 after acquiring an additional 100 shares during the period. Bessemer Group Inc. increased its stake in shares of Sun Communities by 11.6% in the first quarter. Bessemer Group Inc. now owns 1,153 shares of the real estate investment trust's stock worth $149,000 after acquiring an additional 120 shares during the period. Quadrant Capital Group LLC boosted its holdings in Sun Communities by 17.2% in the fourth quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock valued at $103,000 after purchasing an additional 123 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Sun Communities by 45.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 124 shares during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SUI. JMP Securities reissued a "market outperform" rating and set a $140.00 target price on shares of Sun Communities in a report on Tuesday, May 20th. Royal Bank Of Canada dropped their price objective on Sun Communities from $154.00 to $147.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Jefferies Financial Group started coverage on shares of Sun Communities in a research note on Tuesday, April 8th. They set a "buy" rating and a $150.00 price objective for the company. Robert W. Baird dropped their price objective on shares of Sun Communities from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Barclays began coverage on shares of Sun Communities in a research note on Thursday, May 29th. They issued an "overweight" rating and a $141.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $138.08.

Sun Communities Price Performance

NYSE SUI traded down $1.57 on Monday, reaching $127.70. The company's stock had a trading volume of 125,552 shares, compared to its average volume of 853,282. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 1.01. The business has a 50-day moving average price of $124.90 and a 200 day moving average price of $125.67. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $147.83. The firm has a market cap of $16.30 billion, a PE ratio of 206.15, a price-to-earnings-growth ratio of 8.81 and a beta of 0.86.

Sun Communities (NYSE:SUI - Get Free Report) last issued its earnings results on Monday, May 5th. The real estate investment trust reported $1.26 EPS for the quarter, beating the consensus estimate of $1.18 by $0.08. The firm had revenue of $470.20 million during the quarter, compared to the consensus estimate of $538.63 million. Sun Communities had a net margin of 2.85% and a return on equity of 1.41%. The business's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 earnings per share. Sell-side analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.26%. This is a boost from Sun Communities's previous quarterly dividend of $0.94. Sun Communities's dividend payout ratio is 670.97%.

Insider Activity at Sun Communities

In other Sun Communities news, Director Jeff Blau purchased 3,665 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were bought at an average price of $117.99 per share, for a total transaction of $432,433.35. Following the completion of the acquisition, the director owned 3,665 shares in the company, valued at approximately $432,433.35. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.89% of the company's stock.

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.