Gamco Investors INC. ET AL Has $1.66 Million Position in Sun Communities, Inc. (NYSE:SUI)

Gamco Investors INC. ET AL lowered its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 18.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,500 shares of the real estate investment trust's stock after selling 3,000 shares during the quarter. Gamco Investors INC. ET AL's holdings in Sun Communities were worth $1,660,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Legacy Trust acquired a new stake in Sun Communities during the 4th quarter valued at $625,000. Aurora Investment Managers LLC. grew its holdings in Sun Communities by 9.7% during the 4th quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust's stock worth $3,380,000 after acquiring an additional 2,435 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Sun Communities by 16.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust's stock worth $95,885,000 after acquiring an additional 108,054 shares in the last quarter. VCI Wealth Management LLC acquired a new position in Sun Communities during the 4th quarter worth $1,312,000. Finally, Vert Asset Management LLC grew its holdings in Sun Communities by 9.9% during the 4th quarter. Vert Asset Management LLC now owns 56,083 shares of the real estate investment trust's stock worth $6,897,000 after acquiring an additional 5,060 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SUI shares. Truist Financial decreased their price objective on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Jefferies Financial Group assumed coverage on shares of Sun Communities in a report on Tuesday, April 8th. They set a "buy" rating and a $150.00 price objective for the company. Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. Finally, JMP Securities restated a "market outperform" rating and issued a $140.00 price target (down from $150.00) on shares of Sun Communities in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $135.70.

Sun Communities Price Performance

Shares of SUI traded up $1.36 during mid-day trading on Thursday, hitting $123.43. The company's stock had a trading volume of 166,486 shares, compared to its average volume of 835,058. The firm has a 50-day moving average price of $127.35 and a 200 day moving average price of $126.95. The stock has a market capitalization of $15.75 billion, a price-to-earnings ratio of 66.30 and a beta of 0.84. 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 fifty-two week low of $109.22 and a fifty-two week high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. The firm had revenue of $745.90 million for the quarter, compared to analysts' expectations of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. On average, research analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.94 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.05%. Sun Communities's payout ratio is currently 508.11%.

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.