Sun Communities, Inc. (NYSE:SUI) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC lessened its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 71.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,723 shares of the real estate investment trust's stock after selling 171,532 shares during the quarter. Schonfeld Strategic Advisors LLC owned about 0.05% of Sun Communities worth $8,328,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Northern Trust Corp boosted its position in Sun Communities by 48.3% during the fourth quarter. Northern Trust Corp now owns 1,107,394 shares of the real estate investment trust's stock worth $136,176,000 after acquiring an additional 360,774 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Sun Communities by 6.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 240,000 shares of the real estate investment trust's stock worth $29,513,000 after purchasing an additional 15,000 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 purchasing an additional 911,857 shares during the last quarter. Lasalle Investment Management Securities LLC grew its position in shares of Sun Communities by 48.9% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 638,436 shares of the real estate investment trust's stock valued at $78,508,000 after purchasing an additional 209,811 shares during the period. Finally, Natixis acquired a new position in Sun Communities in the fourth quarter valued at $90,000. Hedge funds and other institutional investors own 99.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SUI. Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. JMP Securities reaffirmed a "market outperform" rating and set a $140.00 price target (down previously from $150.00) on shares of Sun Communities in a research report on Monday, April 21st. Jefferies Financial Group assumed coverage on shares of Sun Communities in a report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target on the stock. Finally, Truist Financial dropped their price objective on Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $135.70.

Sun Communities Stock Down 1.4 %

Sun Communities stock traded down $1.83 during trading on Monday, reaching $130.42. 1,054,586 shares of the company's stock were exchanged, compared to its average volume of 830,776. The company's 50-day moving average is $126.97 and its two-hundred day moving average is $126.65. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. Sun Communities, Inc. has a 52-week low of $109.22 and a 52-week high of $147.83. The firm has a market cap of $16.64 billion, a price-to-earnings ratio of 70.12 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 $1.21 by $0.05. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. On average, analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.94 per share. The ex-dividend date was Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.88%. 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.