77,500 Shares in Sun Communities, Inc. (NYSE:SUI) Purchased by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC acquired a new position in Sun Communities, Inc. (NYSE:SUI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 77,500 shares of the real estate investment trust’s stock, valued at approximately $9,530,000. Lighthouse Investment Partners LLC owned about 0.06% of Sun Communities as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Sun Communities by 8.5% during the fourth 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 period. Cascade Investment Advisors Inc. lifted its holdings in shares of Sun Communities by 0.8% during the fourth quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust’s stock valued at $1,276,000 after purchasing an additional 85 shares during the last quarter. Utah Retirement Systems raised its stake in Sun Communities by 0.5% during the fourth quarter. Utah Retirement Systems now owns 20,503 shares of the real estate investment trust’s stock valued at $2,521,000 after buying an additional 100 shares during the last quarter. Cetera Trust Company N.A increased its stake in Sun Communities by 6.0% during the 4th quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust’s stock valued at $229,000 after purchasing an additional 105 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Sun Communities by 17.2% during the 4th quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SUI shares. Robert W. Baird cut their target price on shares of Sun Communities from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Thursday. JMP Securities restated 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. Truist Financial cut their price objective on shares of Sun Communities from $142.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Royal Bank of Canada lowered their target price on Sun Communities from $154.00 to $147.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Finally, Jefferies Financial Group began coverage on shares of Sun Communities in a research note on Tuesday, April 8th. They issued a “buy” rating and a $150.00 price objective for the company. Two equities 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. Based on data from MarketBeat.com, Sun Communities has an average rating of “Hold” and an average target price of $136.90.

Sun Communities Trading Up 1.6%

NYSE SUI opened at $125.53 on Monday. The firm’s 50-day moving average is $126.09 and its two-hundred day moving average is $126.27. 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 current ratio of 1.61 and a quick ratio of 1.61. The stock has a market capitalization of $16.02 billion, a P/E ratio of 67.49 and a beta of 0.86.

Sun Communities (NYSE:SUI) last released its earnings results on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.08. The firm had revenue of $470.20 million for the quarter, compared to analyst estimates of $538.63 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 earnings per share. On average, sell-side analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Monday, March 31st. Sun Communities’s dividend payout ratio is presently 606.45%.

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.