Oak Thistle LLC Takes Position in Sun Communities, Inc. (NYSE:SUI)

Oak Thistle LLC bought a new stake in Sun Communities, Inc. (NYSE:SUI) in the 1st quarter, Holdings Channel.com reports. The fund bought 4,411 shares of the real estate investment trust’s stock, valued at approximately $567,000.

Several other large investors have also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in shares of Sun Communities in the fourth quarter worth approximately $32,000. Quest Partners LLC acquired a new position in Sun Communities in the fourth quarter valued at $51,000. GAMMA Investing LLC acquired a new stake in Sun Communities during the fourth quarter worth about $80,000. Tobam grew its holdings in shares of Sun Communities by 64.0% during the 4th quarter. Tobam now owns 743 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 290 shares during the period. Finally, Sugarloaf Wealth Management LLC increased its position in Sun Communities by 9.2% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 927 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 78 shares in the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Evercore ISI cut their target price on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Compass Point raised their price target on shares of Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Royal Bank of Canada cut their price objective on shares of Sun Communities from $142.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. JMP Securities reaffirmed a “market outperform” rating and set a $150.00 target price on shares of Sun Communities in a research report on Thursday, May 2nd. Finally, Truist Financial lowered their target price on Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $136.27.

Sun Communities Stock Down 1.3 %

NYSE:SUI traded down $1.58 during mid-day trading on Monday, reaching $118.76. The stock had a trading volume of 567,881 shares, compared to its average volume of 777,112. The stock has a market cap of $14.80 billion, a P/E ratio of 102.38, a PEG ratio of 1.06 and a beta of 0.87. The business’s 50 day moving average is $117.74 and its 200 day moving average is $125.16. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.78 and a quick ratio of 1.78. Sun Communities, Inc. has a fifty-two week low of $102.74 and a fifty-two week high of $141.52.

Sun Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, June 28th. Sun Communities’s payout ratio is presently 324.14%.

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.