Hunter Perkins Capital Management LLC Has $5.18 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

Hunter Perkins Capital Management LLC cut its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 35.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,112 shares of the real estate investment trust's stock after selling 21,833 shares during the quarter. Sun Communities accounts for 1.2% of Hunter Perkins Capital Management LLC's holdings, making the stock its 29th largest position. Hunter Perkins Capital Management LLC's holdings in Sun Communities were worth $5,184,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in Sun Communities during the 1st quarter worth $29,000. Aster Capital Management DIFC Ltd grew its holdings in shares of Sun Communities by 263.6% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 232 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Sun Communities by 45.1% in the fourth 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. Parallel Advisors LLC increased its position in shares of Sun Communities by 66.4% in the first quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust's stock worth $61,000 after purchasing an additional 190 shares during the period. Finally, Blue Trust Inc. raised its stake in Sun Communities by 510.4% in the first quarter. Blue Trust Inc. now owns 586 shares of the real estate investment trust's stock valued at $75,000 after purchasing an additional 490 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Price Performance

SUI traded up $0.93 on Monday, reaching $126.53. The stock had a trading volume of 765,243 shares, compared to its average volume of 851,319. 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 company has a market capitalization of $16.15 billion, a price-to-earnings ratio of 204.08, a price-to-earnings-growth ratio of 8.63 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. The firm has a 50-day moving average of $124.25 and a 200-day moving average of $125.44.

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 earnings per share (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 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 was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $1.19 EPS. As a group, sell-side analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $1.04 dividend. This is a boost from Sun Communities's previous quarterly dividend of $0.94. The ex-dividend date is Monday, June 30th. This represents a $4.16 annualized dividend and a dividend yield of 3.29%. Sun Communities's dividend payout ratio is presently 606.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Colliers Securities started coverage on shares of Sun Communities in a research note on Friday, June 13th. They set a "neutral" rating and a $130.00 price objective on the stock. Jefferies Financial Group initiated coverage on shares of Sun Communities in a report on Tuesday, April 8th. They set a "buy" rating and a $150.00 price target for the company. Deutsche Bank Aktiengesellschaft set a $135.00 price objective on shares of Sun Communities and gave the company a "hold" rating in a research note on Wednesday, June 25th. JMP Securities restated a "market outperform" rating and set a $140.00 price objective on shares of Sun Communities in a research report on Tuesday, May 20th. Finally, Truist Financial set a $137.00 target price on 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 issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $138.08.

Insider Transactions at Sun Communities

In other news, Director Jeff Blau acquired 3,665 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director now directly owns 3,665 shares in the company, valued at $432,433.35. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.89% of the stock is owned by corporate insiders.

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.