Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 522,822 shares of the real estate investment trust's stock, valued at approximately $67,256,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.41% of Sun Communities as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Sun Communities in the 4th quarter valued at approximately $888,783,000. Cohen & Steers Inc. raised its position in shares of Sun Communities by 30.3% in the 4th 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 raised its position in shares of Sun Communities by 61.1% in the 4th 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 raised its position in shares of Sun Communities by 51.3% in the 4th 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. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Sun Communities by 19.7% in the 4th 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. 99.59% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, Director Jeff Blau bought 3,665 shares of the company's stock in a transaction on Friday, May 23rd. The shares were purchased at an average cost of $117.99 per share, with a total value of $432,433.35. Following the completion of the transaction, the director directly owned 3,665 shares of the company's stock, valued at approximately $432,433.35. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.77% of the stock is owned by corporate insiders.
Analyst Ratings Changes
SUI has been the topic of a number of recent analyst reports. Bank of America upped their target price on Sun Communities from $124.00 to $132.00 and gave the company an "underperform" rating in a research report on Monday, May 12th. Deutsche Bank Aktiengesellschaft set a $135.00 target price on Sun Communities and gave the company a "hold" rating in a research report on Wednesday, June 25th. Barclays began coverage on Sun Communities in a research report on Thursday, May 29th. They issued an "overweight" rating and a $141.00 target price on the stock. Jefferies Financial Group initiated coverage on Sun Communities in a research report on Tuesday, April 8th. They set a "buy" rating and a $150.00 price target on the stock. Finally, Colliers Securities initiated coverage on Sun Communities in a research report on Friday, June 13th. They set a "neutral" rating and a $130.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Sun Communities currently has an average rating of "Hold" and a consensus target price of $137.86.
View Our Latest Analysis on Sun Communities
Sun Communities Stock Performance
NYSE SUI traded down $1.15 during trading hours on Friday, hitting $119.68. The company had a trading volume of 816,038 shares, compared to its average volume of 1,020,692. 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 quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 1.01. The business has a fifty day simple moving average of $124.91 and a 200-day simple moving average of $125.81. The firm has a market cap of $15.28 billion, a P/E ratio of 193.03, a price-to-earnings-growth ratio of 8.13 and a beta of 0.86.
Sun Communities (NYSE:SUI - Get Free Report) last issued its earnings results 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 firm had revenue of $470.20 million for the quarter, compared to analyst estimates of $538.63 million. During the same period last year, the company earned $1.19 earnings per share. The firm's revenue for the quarter was up .2% on a year-over-year basis. Equities analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current year.
Sun Communities Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $1.04 dividend. The ex-dividend date is Monday, June 30th. This is a positive change from Sun Communities's previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 3.48%. Sun Communities's dividend payout ratio (DPR) is currently 670.97%.
Sun Communities Profile
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Free Report)
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.
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