LRT Capital Management LLC Makes New $1.95 Million Investment in Sun Communities, Inc. (NYSE:SUI)

LRT Capital Management LLC bought a new position in Sun Communities, Inc. (NYSE:SUI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 15,862 shares of the real estate investment trust's stock, valued at approximately $1,951,000. Sun Communities makes up about 1.5% of LRT Capital Management LLC's investment portfolio, making the stock its 24th biggest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Sun Communities by 8.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust's stock worth $131,000 after purchasing an additional 84 shares during the last quarter. Cascade Investment Advisors Inc. boosted its holdings 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 worth $1,276,000 after purchasing an additional 85 shares in the last quarter. Utah Retirement Systems boosted its holdings in Sun Communities by 0.5% in the fourth quarter. Utah Retirement Systems now owns 20,503 shares of the real estate investment trust's stock worth $2,521,000 after purchasing an additional 100 shares in the last quarter. Cetera Trust Company N.A increased its position in Sun Communities by 6.0% during the fourth quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust's stock worth $229,000 after buying an additional 105 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in Sun Communities by 17.2% during the fourth quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock valued at $103,000 after buying an additional 123 shares in the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SUI shares. Jefferies Financial Group initiated 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. Bank of America increased their price target on Sun Communities from $124.00 to $132.00 and gave the company an "underperform" rating in a report on Monday. JMP Securities restated a "market outperform" rating and issued a $140.00 price objective (down from $150.00) on shares of Sun Communities in a research note on Monday, April 21st. Robert W. Baird lowered their target price on shares of Sun Communities from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Finally, Truist Financial lowered their price target on Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $138.70.

Sun Communities Stock Performance

SUI traded up $2.42 on Thursday, hitting $121.04. 645,421 shares of the stock traded hands, compared to its average volume of 835,596. The business has a fifty day moving average price of $125.48 and a two-hundred day moving average price of $126.15. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $15.45 billion, a PE ratio of 65.08 and a beta of 0.86. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last issued its earnings results on Monday, May 5th. The real estate investment trust reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.08. The business had revenue of $470.20 million during the quarter, compared to analyst estimates of $538.63 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Sun Communities's revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $1.19 earnings per share. On average, research analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.94 dividend. The ex-dividend date was Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a yield of 3.11%. Sun Communities's 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.