Guggenheim Capital LLC decreased its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 92.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,381 shares of the real estate investment trust's stock after selling 30,224 shares during the quarter. Guggenheim Capital LLC's holdings in Sun Communities were worth $293,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mariner LLC raised its stake in shares of Sun Communities by 5.0% during the 4th quarter. Mariner LLC now owns 11,601 shares of the real estate investment trust's stock worth $1,427,000 after buying an additional 556 shares in the last quarter. Cohen & Steers Inc. boosted its holdings in shares of 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 purchasing an additional 3,811,528 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in Sun Communities by 0.5% in the 4th quarter. Treasurer of the State of North Carolina now owns 55,714 shares of the real estate investment trust's stock valued at $6,851,000 after buying an additional 290 shares during the period. Raymond James Financial Inc. acquired a new position in Sun Communities during the fourth quarter worth approximately $16,051,000. Finally, APG Asset Management N.V. purchased a new position in shares of Sun Communities in the 4th quarter worth $7,731,000. 99.59% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the stock. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. Truist Financial cut 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 note on Thursday, April 10th. JMP Securities reissued a "market outperform" rating and issued a $140.00 price objective (down from $150.00) on shares of Sun Communities in a research report on Monday, April 21st. Finally, Jefferies Financial Group started coverage on Sun Communities in a research note on Tuesday, April 8th. They issued a "buy" rating and a $150.00 target price for the company. Two research 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. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $135.70.
Check Out Our Latest Stock Report on SUI
Sun Communities Stock Performance
Shares of Sun Communities stock traded up $5.66 during trading on Thursday, hitting $130.09. 891,408 shares of the stock were exchanged, compared to its average volume of 831,651. The stock has a market cap of $16.60 billion, a PE ratio of 69.91 and a beta of 0.84. The stock's fifty day moving average is $127.10 and its 200 day moving average is $126.80. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month high of $147.83. 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 (NYSE:SUI - Get Free Report) last posted its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $724.68 million. As a group, sell-side analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.
Sun Communities Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Monday, March 31st. Sun Communities's dividend payout ratio (DPR) is presently 508.11%.
Sun Communities Profile
(
Free Report)
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.
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