Sun Communities, Inc. (NYSE:SUI) Shares Purchased by Whittier Trust Co.

Whittier Trust Co. grew its position in shares of Sun Communities, Inc. (NYSE:SUI) by 2.2% during the 4th quarter, Holdings Channel reports. The firm owned 216,139 shares of the real estate investment trust’s stock after purchasing an additional 4,708 shares during the period. Whittier Trust Co.’s holdings in Sun Communities were worth $26,578,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Assetmark Inc. grew its position in Sun Communities by 2,111.1% in the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 190 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Sun Communities in the 3rd quarter worth $41,000. Smartleaf Asset Management LLC grew its holdings in shares of 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 worth $49,000 after acquiring an additional 124 shares during the last quarter. CKW Financial Group raised its position in shares of Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 135 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Sun Communities in the 3rd quarter valued at $60,000. Institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Performance

Shares of SUI opened at $131.65 on Thursday. The firm has a market cap of $16.77 billion, a price-to-earnings ratio of 70.78 and a beta of 0.90. The company’s fifty day moving average is $127.85 and its 200-day moving average is $129.51. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm had revenue of $745.90 million for the quarter, compared to the consensus estimate of $724.68 million. Equities analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

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

Wall Street Analysts Forecast Growth

SUI has been the topic of several recent analyst reports. Wells Fargo & Company cut their price objective on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Truist Financial boosted their target price on shares of Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Jefferies Financial Group decreased their target price 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. StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $135.55.

About Sun Communities

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.