Mercer Global Advisors Inc. ADV Has $1.01 Million Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Mercer Global Advisors Inc. ADV grew its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 112.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,196 shares of the real estate investment trust's stock after purchasing an additional 4,342 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Sun Communities were worth $1,008,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SUI. Cohen & Steers Inc. boosted its holdings in Sun Communities by 30.3% during the fourth quarter. Cohen & Steers Inc. now owns 16,373,446 shares of the real estate investment trust's stock worth $2,013,414,000 after buying an additional 3,811,528 shares during the last quarter. Dodge & Cox boosted its stake in Sun Communities by 61.1% during the 4th quarter. Dodge & Cox now owns 9,606,018 shares of the real estate investment trust's stock worth $1,181,252,000 after acquiring an additional 3,644,853 shares during the last quarter. FMR LLC grew its holdings 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 buying an additional 2,684,214 shares during the period. Norges Bank bought a new stake in shares of Sun Communities in the 4th quarter valued at $888,783,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Sun Communities by 19.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,549,540 shares of the real estate investment trust's stock worth $682,429,000 after acquiring an additional 911,857 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SUI. Truist Financial reduced their price target 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 began 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. Royal Bank of Canada lowered their target price on shares of Sun Communities from $154.00 to $147.00 and set an "outperform" rating on the stock in a report on Wednesday. Robert W. Baird cut their price target on shares of Sun Communities from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, JMP Securities reissued a "market outperform" rating and issued a $140.00 price objective (down previously from $150.00) on shares of Sun Communities in a research report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $136.90.

Sun Communities Price Performance

Sun Communities stock opened at $125.53 on Friday. The company has a market capitalization of $16.02 billion, a price-to-earnings ratio of 67.49 and a beta of 0.86. The stock's 50 day moving average is $126.09 and its 200-day moving average is $126.35. 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, Inc. has a 12 month low of $109.22 and a 12 month high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last announced its earnings results on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share (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 firm had revenue of $470.20 million for the quarter, compared to analyst estimates of $538.63 million. During the same quarter in the prior year, the business posted $1.19 EPS. The business's revenue was up .2% compared to the same quarter last year. Equities research analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.76 annualized dividend and a dividend yield of 3.00%. Sun Communities's dividend payout ratio (DPR) is presently 606.45%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.