Sun Communities, Inc. (NYSE:SUI) Position Raised by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. raised its stake in Sun Communities, Inc. (NYSE:SUI) by 0.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 223,462 shares of the real estate investment trust’s stock after buying an additional 867 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Sun Communities were worth $27,633,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Sun Communities by 8.5% in 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 buying an additional 84 shares during the last quarter. Cascade Investment Advisors Inc. raised its stake 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 in the last quarter. Cetera Trust Company N.A raised its stake in shares of Sun Communities by 6.0% during the fourth 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. Avior Wealth Management LLC raised its stake in shares of Sun Communities by 3.0% during the third quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust’s stock valued at $585,000 after purchasing an additional 125 shares in the last quarter. Finally, CKW Financial Group raised its stake 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 valued at $53,000 after purchasing an additional 135 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Baird R W cut shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Wells Fargo & Company cut their price objective on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. BMO Capital Markets lowered their target price on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Finally, Royal Bank of Canada lowered their target price on Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $134.55.

Sun Communities Price Performance

NYSE SUI opened at $125.11 on Friday. The stock’s 50-day moving average price is $124.26 and its two-hundred day moving average price is $129.64. 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 $15.94 billion, a PE ratio of 67.27 and a beta of 0.90. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 annualized dividend and a yield of 3.01%. Sun Communities’s payout ratio 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.