State of Wyoming Invests $392,000 in Sun Communities, Inc. (NYSE:SUI)

State of Wyoming bought a new position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,185 shares of the real estate investment trust's stock, valued at approximately $392,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SUI. Park Avenue Securities LLC boosted its position in shares of Sun Communities by 4.4% during the 4th quarter. Park Avenue Securities LLC now owns 4,811 shares of the real estate investment trust's stock valued at $592,000 after acquiring an additional 203 shares during the last quarter. Arkadios Wealth Advisors lifted its position in Sun Communities by 13.1% in the fourth quarter. Arkadios Wealth Advisors now owns 5,847 shares of the real estate investment trust's stock valued at $719,000 after buying an additional 678 shares during the last quarter. HB Wealth Management LLC lifted its position in Sun Communities by 4.2% in the fourth quarter. HB Wealth Management LLC now owns 5,183 shares of the real estate investment trust's stock valued at $637,000 after buying an additional 207 shares during the last quarter. Aurora Investment Managers LLC. lifted its position in Sun Communities by 9.7% in the fourth quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust's stock valued at $3,380,000 after buying an additional 2,435 shares during the last quarter. Finally, Cetera Trust Company N.A lifted its position in Sun Communities by 6.0% in the fourth quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust's stock valued at $229,000 after buying an additional 105 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on SUI. Robert W. Baird decreased their target price on shares of Sun Communities from $128.00 to $126.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Truist Financial decreased their target price on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. JMP Securities reaffirmed a "market outperform" rating and issued a $140.00 target price on shares of Sun Communities in a research report on Tuesday. Jefferies Financial Group initiated coverage on shares of Sun Communities in a research report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 target price on the stock. Finally, Bank of America boosted their price target on shares of Sun Communities from $124.00 to $132.00 and gave the stock an "underperform" rating in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $138.70.

Sun Communities Stock Up 0.8%

Shares of SUI stock traded up $0.97 during trading hours on Friday, reaching $119.95. 613,054 shares of the stock were exchanged, compared to its average volume of 834,596. The business's fifty day moving average is $124.37 and its two-hundred day moving average is $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. Sun Communities, Inc. has a 12-month low of $109.22 and a 12-month high of $147.83. The firm has a market capitalization of $15.31 billion, a P/E ratio of 64.49 and a beta of 0.86.

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

Sun Communities Dividend Announcement

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