Sophron Capital Management L.P. Invests $2.89 Million in Sun Communities, Inc. (NYSE:SUI)

Sophron Capital Management L.P. bought a new position in Sun Communities, Inc. (NYSE:SUI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,513 shares of the real estate investment trust's stock, valued at approximately $2,891,000.

Other large investors have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd lifted its holdings in Sun Communities by 263.6% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 232 shares during the last quarter. Smartleaf Asset Management LLC grew 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 acquiring an additional 124 shares during the last quarter. CKW Financial Group grew its position in shares of Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock worth $53,000 after acquiring an additional 135 shares during the last quarter. Natixis bought a new position in shares of Sun Communities during the fourth quarter worth about $90,000. Finally, Quadrant Capital Group LLC grew its position in shares of Sun Communities by 17.2% during the fourth quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock worth $103,000 after acquiring an additional 123 shares during the last quarter. Institutional investors own 99.59% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on SUI. Royal Bank of Canada lowered their price target on shares of Sun Communities from $154.00 to $147.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Robert W. Baird lowered their price target 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. Bank of America upped their price target on shares of Sun Communities from $124.00 to $132.00 and gave the stock an "underperform" rating in a research report on Monday, May 12th. Truist Financial cut their target price on Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, Jefferies Financial Group began coverage on Sun Communities in a research note on Tuesday, April 8th. They set a "buy" rating and a $150.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $138.70.

Sun Communities Price Performance

Shares of Sun Communities stock traded up $0.97 on Friday, hitting $119.95. The company had a trading volume of 613,054 shares, compared to its average volume of 834,596. The business has a 50-day simple moving average of $124.37 and a 200-day simple moving average of $125.66. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The company has a market cap of $15.31 billion, a PE ratio of 64.49 and a beta of 0.86. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $147.83.

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, beating the consensus estimate of $1.18 by $0.08. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $470.20 million during the quarter, compared to analysts' expectations of $538.63 million. During the same period last year, the firm posted $1.19 earnings per share. The business's revenue was up .2% on a year-over-year basis. Research analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Monday, March 31st. Sun Communities's dividend payout ratio (DPR) is presently 606.45%.

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.