Whittier Trust Co. of Nevada Inc. Has $14.16 Million Stock Position in Sun Communities, Inc. (NYSE:SUI)

Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 16.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,067 shares of the real estate investment trust's stock after buying an additional 15,308 shares during the quarter. Whittier Trust Co. of Nevada Inc. owned 0.09% of Sun Communities worth $14,159,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Cohen & Steers Inc. grew its stake in Sun Communities by 30.3% in the fourth quarter. Cohen & Steers Inc. now owns 16,373,446 shares of the real estate investment trust's stock valued at $2,013,414,000 after purchasing an additional 3,811,528 shares in the last quarter. Dodge & Cox grew its stake in Sun Communities by 61.1% in the fourth quarter. Dodge & Cox now owns 9,606,018 shares of the real estate investment trust's stock valued at $1,181,252,000 after purchasing an additional 3,644,853 shares in the last quarter. FMR LLC grew its stake in Sun Communities by 51.3% in the fourth quarter. FMR LLC now owns 7,917,870 shares of the real estate investment trust's stock valued at $973,660,000 after purchasing an additional 2,684,214 shares in the last quarter. Norges Bank purchased a new position in Sun Communities in the fourth quarter valued at about $888,783,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Sun Communities by 19.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,549,540 shares of the real estate investment trust's stock valued at $682,429,000 after purchasing an additional 911,857 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company's stock.

Sun Communities Stock Performance

Shares of NYSE SUI traded up $0.86 during trading hours on Friday, hitting $125.46. 638,868 shares of the company's stock were exchanged, compared to its average volume of 876,726. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $147.83. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.25 and a quick ratio of 2.25. The stock has a market capitalization of $16.01 billion, a price-to-earnings ratio of 202.40, a PEG ratio of 8.53 and a beta of 0.86. The company's 50-day moving average price is $124.85 and its 200-day moving average price is $125.77.

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 for the quarter, topping the consensus estimate of $1.18 by $0.08. Sun Communities had a return on equity of 1.41% and a net margin of 2.85%. The business had revenue of $470.20 million during the quarter, compared to analysts' expectations of $538.63 million. During the same quarter in the previous year, the firm earned $1.19 EPS. The firm's revenue was up .2% compared to the same quarter last year. On average, sell-side analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, June 30th. This is a boost from Sun Communities's previous quarterly dividend of $0.94. Sun Communities's payout ratio is currently 670.97%.

Wall Street Analysts Forecast Growth

SUI has been the topic of a number of recent research reports. Robert W. Baird lowered their target price on Sun Communities from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen downgraded Sun Communities from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Jefferies Financial Group initiated coverage on Sun Communities in a research note on Tuesday, April 8th. They issued a "buy" rating and a $150.00 target price on the stock. Colliers Securities started 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. Finally, Truist Financial set a $137.00 price target on Sun Communities and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Sun Communities has an average rating of "Hold" and an average price target of $137.86.

Insider Buying and Selling at Sun Communities

In other Sun Communities news, Director Jeff Blau acquired 3,665 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was acquired at an average price of $117.99 per share, with a total value of $432,433.35. Following the transaction, the director owned 3,665 shares of the company's stock, valued at approximately $432,433.35. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.77% of the company's stock.

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.