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

Hunter Perkins Capital Management LLC cut its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 35.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,112 shares of the real estate investment trust's stock after selling 21,833 shares during the period. Sun Communities makes up about 1.2% of Hunter Perkins Capital Management LLC's portfolio, making the stock its 29th largest holding. Hunter Perkins Capital Management LLC's holdings in Sun Communities were worth $5,184,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Smartleaf Asset Management LLC raised 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 buying an additional 124 shares during the period. Mutual of America Capital Management LLC increased its holdings in 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 in the last quarter. LPL Financial LLC raised its position in Sun Communities by 22.3% during the fourth 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 acquired a new position in Sun Communities during the fourth quarter worth $716,000. Finally, Yousif Capital Management LLC lifted 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 valued at $846,000 after purchasing an additional 263 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company's stock.

Wall Street Analysts Forecast Growth

SUI has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on shares of Sun Communities in a research note on Tuesday, April 8th. They set a "buy" rating and a $150.00 target price for the company. Wall Street Zen lowered Sun Communities from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Robert W. Baird decreased their target price on Sun Communities from $128.00 to $126.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. JMP Securities reaffirmed a "market outperform" rating and issued a $140.00 price target on shares of Sun Communities in a research note on Tuesday, May 20th. Finally, Barclays assumed coverage on Sun Communities in a research note on Thursday, May 29th. They issued an "overweight" rating and a $141.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $138.08.

Sun Communities Trading Down 1.2%

Shares of NYSE SUI traded down $1.50 during trading on Friday, hitting $126.63. 1,813,335 shares of the company were exchanged, compared to its average volume of 851,679. 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 quick ratio of 2.25 and a current ratio of 2.25. The company has a fifty day moving average price of $124.18 and a 200-day moving average price of $125.36. The firm has a market capitalization of $16.16 billion, a PE ratio of 204.25, a P/E/G ratio of 8.65 and a beta of 0.86.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings data 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. Sun Communities had a net margin of 2.85% and a return on equity of 1.41%. The firm had revenue of $470.20 million during the quarter, compared to analyst estimates of $538.63 million. During the same quarter in the prior year, the firm posted $1.19 earnings per share. Sun Communities's quarterly revenue was up .2% on a year-over-year basis. As a group, equities research analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $1.04 per share. 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 3.29%. This is an increase from Sun Communities's previous quarterly dividend of $0.94. Sun Communities's dividend payout ratio (DPR) is currently 606.45%.

Insider Activity

In other Sun Communities news, Director Jeff Blau bought 3,665 shares of the business's stock in a transaction on Friday, May 23rd. The stock was bought at an average price of $117.99 per share, with a total value of $432,433.35. Following the completion of the purchase, the director now directly owns 3,665 shares in the company, valued at $432,433.35. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.77% 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.