14,718 Shares in Sun Communities, Inc. (NYSE:SUI) Purchased by Neo Ivy Capital Management

Neo Ivy Capital Management purchased a new position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,718 shares of the real estate investment trust's stock, valued at approximately $1,809,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Sun Communities by 3.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,364,311 shares of the real estate investment trust's stock valued at $167,769,000 after buying an additional 40,832 shares during the last quarter. Sophron Capital Management L.P. acquired a new position in Sun Communities during the fourth quarter worth approximately $2,891,000. Two Sigma Advisers LP increased its holdings in shares of Sun Communities by 1,154.3% during the 4th quarter. Two Sigma Advisers LP now owns 43,900 shares of the real estate investment trust's stock worth $5,398,000 after buying an additional 40,400 shares during the last quarter. Two Sigma Investments LP grew its holdings in shares of Sun Communities by 173.0% during the 4th quarter. Two Sigma Investments LP now owns 27,579 shares of the real estate investment trust's stock worth $3,391,000 after purchasing an additional 17,475 shares during the period. Finally, State of Wyoming purchased a new stake in shares of Sun Communities during the fourth quarter valued at approximately $392,000. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Up 0.5%

NYSE SUI traded up $0.57 during mid-day trading on Thursday, hitting $121.34. The company's stock had a trading volume of 185,467 shares, compared to its average volume of 832,992. The firm has a market capitalization of $15.49 billion, a price-to-earnings ratio of 65.23 and a beta of 0.86. The company's 50 day simple moving average is $123.74 and its 200 day simple moving average is $125.55. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $147.83. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.08. The firm had revenue of $470.20 million for the quarter, compared to the consensus estimate of $538.63 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business's revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.19 EPS. Analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Monday, March 31st. Sun Communities's dividend payout ratio (DPR) is presently 606.45%.

Wall Street Analysts Forecast Growth

SUI has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on Sun Communities in a research note on Tuesday, April 8th. They set a "buy" rating and a $150.00 target price for the company. Barclays assumed coverage on shares of Sun Communities in a research note on Thursday. They set an "overweight" rating and a $141.00 target price for the company. Bank of America raised their price objective on shares of Sun Communities from $124.00 to $132.00 and gave the company an "underperform" rating in a research report on Monday, May 12th. JMP Securities reiterated a "market outperform" rating and set a $140.00 price target on shares of Sun Communities in a report on Tuesday, May 20th. Finally, Royal Bank of Canada lowered their target price on Sun Communities from $154.00 to $147.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $138.91.

Sun Communities Company 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.