Vert Asset Management LLC Has $6.90 Million Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Vert Asset Management LLC grew its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 9.9% during the 4th quarter, Holdings Channel reports. The firm owned 56,083 shares of the real estate investment trust’s stock after buying an additional 5,060 shares during the period. Sun Communities comprises about 2.4% of Vert Asset Management LLC’s investment portfolio, making the stock its 15th biggest position. Vert Asset Management LLC’s holdings in Sun Communities were worth $6,897,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SUI. Assetmark Inc. grew its holdings in Sun Communities by 2,111.1% during the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 190 shares during the period. Brooklyn Investment Group acquired a new position in shares of Sun Communities during the 3rd quarter worth approximately $41,000. CKW Financial Group lifted its holdings in Sun Communities by 45.0% during 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 during the third quarter worth $60,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Sun Communities by 89.1% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 236 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Up 3.0 %

Shares of SUI opened at $131.19 on Tuesday. The firm has a 50 day simple moving average of $124.52 and a two-hundred day simple moving average of $129.56. The company has a market cap of $16.71 billion, a P/E ratio of 70.53, a P/E/G ratio of 0.51 and a beta of 0.89. Sun Communities, Inc. has a one year low of $110.98 and a one year 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.

Sun Communities (NYSE:SUI) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.20). The business had revenue of $939.90 million during 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 business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period last year, the business earned $2.57 earnings per share. Research analysts forecast that Sun Communities, Inc. will post 6.78 EPS for the current fiscal year.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities’s dividend payout ratio is 202.15%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SUI. Evercore ISI lifted their target price on shares of Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Jefferies Financial Group lowered their price objective on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Bank of America cut shares of Sun Communities from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $147.00 to $114.00 in a research report on Tuesday, November 12th. Royal Bank of Canada lowered their price target on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Finally, Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $145.00 to $126.00 in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $134.08.

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.