Chilton Capital Management LLC Has $13.90 Million Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Chilton Capital Management LLC lowered its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 2.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Sun Communities in the 4th quarter worth $888,783,000. Cohen & Steers Inc. raised its holdings in Sun Communities by 30.3% in 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 raised its holdings in Sun Communities by 61.1% in 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 raised its holdings in Sun Communities by 51.3% in 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. Finally, Price T Rowe Associates Inc. MD raised its holdings in Sun Communities by 19.7% in 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 own 99.59% of the company's stock.

Sun Communities Price Performance

Shares of NYSE SUI remained flat at $127.27 during trading hours on Wednesday. The stock had a trading volume of 826,089 shares, compared to its average volume of 856,230. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month high of $147.83. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.25 and a quick ratio of 2.25. The firm's fifty day moving average price is $125.07 and its 200 day moving average price is $125.71. The stock has a market capitalization of $16.24 billion, a PE ratio of 205.27, a P/E/G ratio of 8.73 and a beta of 0.86.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $1.26 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 for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $1.19 earnings per share. On average, sell-side analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.27%. This is a boost from Sun Communities's previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, June 30th. Sun Communities's dividend payout ratio (DPR) is presently 670.97%.

Wall Street Analyst Weigh In

Several research firms have issued reports on SUI. Barclays began coverage on shares of Sun Communities in a research report on Thursday, May 29th. They issued an "overweight" rating and a $141.00 price target on the stock. Wall Street Zen lowered shares of Sun Communities from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Robert W. Baird reduced their price target on shares of Sun Communities from $128.00 to $126.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Colliers Securities started coverage on shares of Sun Communities in a research report on Friday, June 13th. They set a "neutral" rating and a $130.00 target price on the stock. Finally, Truist Financial set a $137.00 price target on shares of Sun Communities and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $138.08.

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 on Friday, May 23rd. The stock was acquired at an average price of $117.99 per share, with a total value of $432,433.35. Following the acquisition, the director directly owned 3,665 shares of the company's stock, valued at $432,433.35. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.89% of the company's stock.

Sun Communities 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.