Sun Communities, Inc. (NYSE:SUI) Shares Bought by LPL Financial LLC

LPL Financial LLC lifted its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 22.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,560 shares of the real estate investment trust's stock after buying an additional 4,665 shares during the quarter. LPL Financial LLC's holdings in Sun Communities were worth $3,143,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP increased its holdings in Sun Communities by 22.0% in the third quarter. Quantinno Capital Management LP now owns 7,695 shares of the real estate investment trust's stock valued at $1,040,000 after buying an additional 1,390 shares during the last quarter. Vestcor Inc boosted its holdings in Sun Communities by 36.9% in the third quarter. Vestcor Inc now owns 2,915 shares of the real estate investment trust's stock valued at $394,000 after purchasing an additional 785 shares in the last quarter. Toronto Dominion Bank increased its stake in Sun Communities by 31.6% in the third quarter. Toronto Dominion Bank now owns 15,682 shares of the real estate investment trust's stock valued at $2,119,000 after purchasing an additional 3,766 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Sun Communities during the 3rd quarter worth approximately $1,564,000. Finally, Central Pacific Bank Trust Division grew its position in shares of Sun Communities by 97.2% in the 4th quarter. Central Pacific Bank Trust Division now owns 3,500 shares of the real estate investment trust's stock valued at $430,000 after buying an additional 1,725 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company's stock.

Analysts Set New Price Targets

SUI has been the topic of several research reports. Jefferies Financial Group started 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. Truist Financial lowered their target price on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Royal Bank of Canada reiterated an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $136.70.

Sun Communities Price Performance

NYSE SUI traded up $1.67 during trading hours on Thursday, reaching $123.37. The company's stock had a trading volume of 55,138 shares, compared to its average volume of 822,871. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $147.83. The stock has a market cap of $15.74 billion, a PE ratio of 66.26 and a beta of 0.84. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The company's 50-day moving average is $127.70 and its two-hundred day moving average is $127.31.

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

Sun Communities Dividend Announcement

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

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.