5,081 Shares in Sun Communities, Inc. (NYSE:SUI) Purchased by Legacy Trust

Legacy Trust acquired a new stake in shares of Sun Communities, Inc. (NYSE:SUI) in the fourth quarter, Holdings Channel reports. The firm acquired 5,081 shares of the real estate investment trust’s stock, valued at approximately $625,000.

Several other large investors also recently added to or reduced their stakes in SUI. FMR LLC raised its stake in shares of Sun Communities by 37.6% during the third quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock valued at $707,329,000 after acquiring an additional 1,430,630 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Sun Communities by 1,061.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust’s stock worth $178,868,000 after purchasing an additional 1,209,522 shares during the period. Westfield Capital Management Co. LP increased its holdings in Sun Communities by 58.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock worth $129,728,000 after purchasing an additional 355,427 shares during the period. Adelante Capital Management LLC raised its position in Sun Communities by 168.7% during the 3rd quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust’s stock valued at $75,566,000 after purchasing an additional 351,017 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Sun Communities by 173.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 150,174 shares of the real estate investment trust’s stock worth $20,296,000 after buying an additional 95,303 shares during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SUI. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and cut their target price for the company from $145.00 to $126.00 in a research report on Thursday, November 7th. Evercore ISI boosted their price target on shares of Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a report on Monday, October 21st. BMO Capital Markets dropped their price objective on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Finally, Truist Financial raised shares of Sun Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Sun Communities has a consensus rating of “Hold” and a consensus price target of $134.08.

Sun Communities Stock Performance

Shares of SUI stock opened at $124.61 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The company has a market cap of $15.87 billion, a PE ratio of 66.99, a PEG ratio of 0.51 and a beta of 0.89. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83. The business’s fifty day simple moving average is $124.64 and its 200-day simple moving average is $129.65.

Sun Communities (NYSE:SUI) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.20). The business had revenue of $939.90 million for the quarter, compared to analyst estimates of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.57 earnings per share. Analysts expect that Sun Communities, Inc. will post 6.78 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Tuesday, December 31st. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

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.