Whittier Trust Co. of Nevada Inc. Buys 5,498 Shares of Sun Communities, Inc. (NYSE:SUI)

Whittier Trust Co. of Nevada Inc. increased its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 6.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,759 shares of the real estate investment trust’s stock after buying an additional 5,498 shares during the quarter. Whittier Trust Co. of Nevada Inc. owned 0.07% of Sun Communities worth $11,652,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of Sun Communities during the 3rd quarter worth approximately $41,000. Smartleaf Asset Management LLC raised its position in Sun Communities by 45.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 124 shares during the last quarter. CKW Financial Group raised its position in Sun Communities by 45.0% in the 4th 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 last quarter. Point72 Hong Kong Ltd bought a new position in Sun Communities in the 3rd quarter valued at $60,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in Sun Communities by 8.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust’s stock valued at $131,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Down 0.0 %

Shares of Sun Communities stock opened at $131.58 on Friday. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. 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 stock has a market cap of $16.76 billion, a PE ratio of 70.74 and a beta of 0.90. The business has a fifty day simple moving average of $128.03 and a 200 day simple moving average of $129.53.

Sun Communities (NYSE:SUI) 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 during the quarter, compared to analysts’ expectations of $724.68 million. Research analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.94 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a yield of 2.86%. Sun Communities’s payout ratio is 508.11%.

Analysts Set New Price Targets

Several brokerages have issued reports on SUI. Wells Fargo & Company cut their price objective on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Truist Financial lifted their price objective on Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Jefferies Financial Group cut their price objective on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating on shares of Sun Communities in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $135.55.

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.