Two Sigma Advisers LP Has $5.40 Million Stock Position in Sun Communities, Inc. (NYSE:SUI)

Two Sigma Advisers LP raised its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 1,154.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,900 shares of the real estate investment trust's stock after acquiring an additional 40,400 shares during the period. Two Sigma Advisers LP's holdings in Sun Communities were worth $5,398,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SUI. Exchange Traded Concepts LLC boosted its stake in Sun Communities by 20.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,559 shares of the real estate investment trust's stock valued at $192,000 after acquiring an additional 267 shares in the last quarter. Fifth Third Bancorp boosted its stake in Sun Communities by 18.0% in the fourth quarter. Fifth Third Bancorp now owns 6,544 shares of the real estate investment trust's stock valued at $805,000 after acquiring an additional 996 shares in the last quarter. Blue Trust Inc. boosted its stake in Sun Communities by 86.2% in the fourth 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. CKW Financial Group boosted its stake in Sun Communities by 45.0% in the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock valued at $53,000 after acquiring an additional 135 shares in the last quarter. Finally, Cascade Investment Advisors Inc. boosted its stake in Sun Communities by 0.8% in the fourth quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust's stock valued at $1,276,000 after acquiring an additional 85 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SUI shares. Bank of America raised their target price on shares of Sun Communities from $124.00 to $132.00 and gave the company an "underperform" rating in a research note on Monday, May 12th. Truist Financial lowered their price objective on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Barclays began coverage on shares of Sun Communities in a research note on Thursday. They set an "overweight" rating and a $141.00 price objective for the company. JMP Securities reiterated a "market outperform" rating and set a $140.00 price objective on shares of Sun Communities in a research note on Tuesday, May 20th. Finally, Jefferies Financial Group started coverage on shares of Sun Communities in a research report on Tuesday, April 8th. They set a "buy" rating and a $150.00 target price for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $138.91.

Sun Communities Price Performance

SUI traded up $0.04 during midday trading on Friday, reaching $122.45. 137,206 shares of the company's stock were exchanged, compared to its average volume of 789,618. 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 stock has a market capitalization of $15.63 billion, a PE ratio of 65.83 and a beta of 0.86. The business's 50-day moving average price is $123.58 and its 200 day moving average price is $125.51. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $1.26 EPS 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 business had revenue of $470.20 million during the quarter, compared to the consensus estimate of $538.63 million. During the same period in the previous year, the firm posted $1.19 earnings per share. The company's quarterly revenue was up .2% compared to the same quarter last year. As a group, equities analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.94 per share. The ex-dividend date was Monday, March 31st. This represents a $3.76 annualized dividend and a dividend yield of 3.07%. Sun Communities's dividend payout ratio is currently 606.45%.

About Sun Communities

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.