Chilton Capital Management LLC Lowers Position in Sun Communities, Inc. (NYSE:SUI)

Chilton Capital Management LLC cut its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 135,289 shares of the real estate investment trust's stock after selling 9,157 shares during the quarter. Chilton Capital Management LLC owned approximately 0.11% of Sun Communities worth $18,155,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SUI. Cohen & Steers Inc. raised its holdings in Sun Communities by 40.8% during the second quarter. Cohen & Steers Inc. now owns 12,664,321 shares of the real estate investment trust's stock valued at $1,652,024,000 after acquiring an additional 3,668,076 shares during the period. Norges Bank bought a new stake in shares of Sun Communities in the fourth quarter worth about $315,323,000. PGGM Investments bought a new stake in shares of Sun Communities in the third quarter worth about $130,082,000. JPMorgan Chase & Co. increased its holdings in shares of Sun Communities by 18.8% in the third quarter. JPMorgan Chase & Co. now owns 6,567,246 shares of the real estate investment trust's stock worth $777,168,000 after purchasing an additional 1,040,076 shares during the last quarter. Finally, Resolution Capital Ltd bought a new stake in shares of Sun Communities in the third quarter worth about $104,406,000. 99.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SUI has been the subject of several recent analyst reports. JMP Securities restated a "market outperform" rating and set a $150.00 target price on shares of Sun Communities in a research report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Sun Communities in a report on Tuesday, January 30th. They set a "hold" rating and a $129.00 price objective on the stock. Barclays lowered their price target on shares of Sun Communities from $157.00 to $155.00 and set an "overweight" rating on the stock in a report on Friday, January 26th. Truist Financial lowered their price target on shares of Sun Communities from $143.00 to $136.00 and set a "hold" rating on the stock in a report on Monday, March 18th. Finally, BMO Capital Markets lowered their price target on shares of Sun Communities from $143.00 to $140.00 and set an "outperform" rating on the stock in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $141.17.

Sun Communities Price Performance

Shares of SUI traded up $2.28 during mid-day trading on Friday, hitting $128.58. 896,097 shares of the company were exchanged, compared to its average volume of 809,790. Sun Communities, Inc. has a 1-year low of $102.74 and a 1-year high of $143.99. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.66 and a current ratio of 1.66. The company has a 50 day moving average of $128.99 and a 200-day moving average of $125.06. The stock has a market cap of $16.00 billion, a price-to-earnings ratio of 112.79, a price-to-earnings-growth ratio of 8.20 and a beta of 0.81.

Sun Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Wednesday, March 27th. This is an increase from Sun Communities's previous quarterly dividend of $0.93. Sun Communities's dividend payout ratio is 329.83%.

Insider Buying and Selling

In related news, Director Craig Leupold sold 2,500 shares of the company's stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $128.39, for a total transaction of $320,975.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Craig Leupold sold 2,500 shares of the company's stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $128.39, for a total transaction of $320,975.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Clunet R. Lewis sold 500 shares of the company's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total transaction of $65,565.00. Following the transaction, the director now owns 28,400 shares of the company's stock, valued at approximately $3,724,092. The disclosure for this sale can be found here. Insiders sold a total of 7,000 shares of company stock worth $912,460 in the last 90 days. Insiders own 2.06% of the company's stock.

Sun Communities Company 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.