California State Teachers Retirement System Sells 6,271 Shares of Sun Communities, Inc. (NYSE:SUI)

California State Teachers Retirement System trimmed its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 3.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 187,683 shares of the real estate investment trust's stock after selling 6,271 shares during the period. California State Teachers Retirement System owned 0.15% of Sun Communities worth $23,079,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Aster Capital Management DIFC Ltd grew its holdings in Sun Communities by 263.6% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 232 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Sun Communities by 45.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 124 shares during the last quarter. Natixis acquired a new stake in Sun Communities in the 4th quarter valued at approximately $90,000. Quadrant Capital Group LLC raised its holdings in Sun Communities by 17.2% in the 4th quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock valued at $103,000 after acquiring an additional 123 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Sun Communities by 86.2% in the 4th quarter. Blue Trust Inc. now owns 1,164 shares of the real estate investment trust's stock valued at $157,000 after acquiring an additional 539 shares in the last quarter. 99.59% of the stock is owned by institutional investors.

Sun Communities Price Performance

SUI stock traded up $0.21 during trading on Monday, hitting $123.65. The company had a trading volume of 300,685 shares, compared to its average volume of 835,814. The company has a market cap of $15.78 billion, a P/E ratio of 66.42 and a beta of 0.86. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $147.83. The company has a fifty day moving average price of $123.49 and a two-hundred day moving average price of $125.51. 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 announced its earnings results on Monday, May 5th. The real estate investment trust reported $1.26 EPS for the quarter, topping the consensus estimate of $1.18 by $0.08. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $470.20 million for the quarter, compared to analysts' expectations of $538.63 million. During the same quarter in the prior year, the business earned $1.19 earnings per share. The business's revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.94 dividend. The ex-dividend date was Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.04%. Sun Communities's dividend payout ratio is 606.45%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. JMP Securities reissued a "market outperform" rating and set a $140.00 price objective on shares of Sun Communities in a report on Tuesday, May 20th. Robert W. Baird decreased their price objective on Sun Communities from $128.00 to $126.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Truist Financial decreased their price objective on Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Bank of America lifted their price objective on Sun Communities from $124.00 to $132.00 and gave the stock an "underperform" rating in a report on Monday, May 12th. Finally, Jefferies Financial Group assumed coverage on Sun Communities in a report on Tuesday, April 8th. They set a "buy" rating and a $150.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $138.91.

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.