New Age Alpha Advisors LLC Makes New $2.30 Million Investment in Sun Communities, Inc. (NYSE:SUI)

New Age Alpha Advisors LLC bought a new position in Sun Communities, Inc. (NYSE:SUI) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 18,672 shares of the real estate investment trust’s stock, valued at approximately $2,296,000.

Several other institutional investors have also made changes to their positions in SUI. Brooklyn Investment Group acquired a new position in Sun Communities in the 3rd quarter worth approximately $41,000. Smartleaf Asset Management LLC lifted its holdings in shares of Sun Communities by 45.1% in the fourth 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 in the last quarter. CKW Financial Group boosted its position in shares of Sun Communities by 45.0% in the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 135 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Sun Communities during the third quarter valued at $60,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in 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 buying an additional 84 shares during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Trading Up 1.5 %

Shares of NYSE:SUI opened at $130.04 on Friday. 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 stock has a market capitalization of $16.59 billion, a PE ratio of 69.91 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. The firm has a fifty day moving average price of $128.88 and a 200 day moving average price of $129.11.

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

Sun Communities Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Monday, March 31st. Sun Communities’s dividend payout ratio is 508.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SUI shares. Truist Financial lifted their target price on Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Sun Communities in a research report on Friday, February 28th. Wells Fargo & Company cut their target price on shares of 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. Finally, Jefferies Financial Group lowered their price target on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $136.60.

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.