Alyeska Investment Group L.P. Has $123.55 Million Position in Sun Communities, Inc. (NYSE:SUI)

Alyeska Investment Group L.P. raised its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 112.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,004,688 shares of the real estate investment trust's stock after purchasing an additional 531,880 shares during the period. Alyeska Investment Group L.P. owned 0.79% of Sun Communities worth $123,546,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd boosted its position in shares of Sun Communities by 263.6% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock worth $39,000 after buying an additional 232 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Sun Communities by 45.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 124 shares in the last quarter. CKW Financial Group increased its holdings in shares of Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 135 shares during the period. Natixis bought a new stake in shares of Sun Communities during the fourth quarter valued at about $90,000. Finally, Quadrant Capital Group LLC lifted its holdings in Sun Communities by 17.2% in the fourth quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock worth $103,000 after purchasing an additional 123 shares during the period. Institutional investors own 99.59% of the company's stock.

Analysts Set New Price Targets

SUI has been the topic of several research analyst reports. JMP Securities reissued a "market outperform" rating and set a $140.00 target price (down previously from $150.00) on shares of Sun Communities in a research note on Monday, April 21st. Jefferies Financial Group began coverage on Sun Communities in a research report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 target price for the company. Truist Financial lowered their price target on 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 restated an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $135.70.

Sun Communities Trading Down 4.4 %

Shares of Sun Communities stock traded down $5.80 during trading on Tuesday, hitting $124.60. The stock had a trading volume of 1,199,301 shares, compared to its average volume of 831,571. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $147.83. The stock has a 50 day simple moving average of $126.90 and a 200 day simple moving average of $126.61. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $15.90 billion, a PE ratio of 66.99 and a beta of 0.86.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.08. The firm had revenue of $470.20 million for the quarter, compared to analysts' expectations of $538.63 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company's quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 EPS. On average, research analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders 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 yield of 3.02%. Sun Communities's 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.