Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Sun Communities, Inc. (NYSE:SUI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,665 shares of the real estate investment trust's stock, valued at approximately $471,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in shares of Sun Communities by 45.1% during 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 in the last quarter. Mutual of America Capital Management LLC boosted its stake in Sun Communities by 4.4% during the fourth 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 buying an additional 772 shares during the period. LPL Financial LLC grew its stake in shares of Sun Communities by 22.3% in the fourth quarter. LPL Financial LLC now owns 25,560 shares of the real estate investment trust's stock valued at $3,143,000 after buying an additional 4,665 shares in the last quarter. Freestone Grove Partners LP purchased a new position in shares of Sun Communities in the fourth quarter valued at approximately $716,000. Finally, Yousif Capital Management LLC increased its position in shares of 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 worth $846,000 after acquiring an additional 263 shares during the period. Hedge funds and other institutional investors own 99.59% of the company's stock.
Insider Activity at Sun Communities
In other news, Director Jeff Blau acquired 3,665 shares of the business's stock in a transaction on Friday, May 23rd. The shares were purchased at an average price of $117.99 per share, for a total transaction of $432,433.35. Following the completion of the purchase, the director now directly owns 3,665 shares of the company's stock, valued at $432,433.35. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.77% of the stock is currently owned by company insiders.
Sun Communities Stock Performance
Sun Communities stock opened at $127.02 on Thursday. The stock has a fifty day moving average price of $124.08 and a 200 day moving average price of $125.34. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 1.01. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $147.83. The firm has a market capitalization of $16.21 billion, a P/E ratio of 204.87, a PEG ratio of 8.72 and a beta of 0.86.
Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $470.20 million during the quarter, compared to the consensus estimate of $538.63 million. Sun Communities had a return on equity of 1.41% and a net margin of 2.85%. The firm's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 earnings per share. Equities research analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.
Sun Communities Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a dividend of $1.04 per share. This is an increase from Sun Communities's previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, June 30th. This represents a $4.16 annualized dividend and a yield of 3.28%. Sun Communities's payout ratio is 606.45%.
Analyst Ratings Changes
A number of equities analysts recently commented on the stock. Jefferies Financial Group began 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. Colliers Securities initiated coverage on Sun Communities in a research note on Friday, June 13th. They issued a "neutral" rating and a $130.00 target price on the stock. Robert W. Baird reduced 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 report on Thursday, May 8th. Royal Bank Of Canada decreased their target price on shares of Sun Communities from $154.00 to $147.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, Truist Financial set a $137.00 price objective on Sun Communities and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $138.08.
Check Out Our Latest Stock Report on Sun Communities
About Sun Communities
(
Free Report)
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.
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