305 Shares in Sun Communities, Inc. (NYSE:SUI) Bought by Brooklyn Investment Group

by · The Markets Daily

Brooklyn Investment Group bought a new position in Sun Communities, Inc. (NYSE:SUI – Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 305 shares of the real estate investment trust’s stock, valued at approximately $41,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bristlecone Advisors LLC grew its position in Sun Communities by 2.4% in the second quarter. Bristlecone Advisors LLC now owns 3,655 shares of the real estate investment trust’s stock worth $440,000 after acquiring an additional 85 shares in the last quarter. Toronto Dominion Bank grew its position in Sun Communities by 0.8% in the second quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust’s stock worth $1,434,000 after acquiring an additional 98 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Sun Communities by 15.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 102 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Sun Communities by 1.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,034 shares of the real estate investment trust’s stock worth $846,000 after purchasing an additional 115 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in Sun Communities by 3.0% in the third quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust’s stock worth $585,000 after purchasing an additional 125 shares during the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Sun Communities Stock Performance

Shares of SUI opened at $126.33 on Friday. 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, Inc. has a one year low of $110.98 and a one year high of $147.83. The company has a 50-day simple moving average of $130.92 and a two-hundred day simple moving average of $127.79. The firm has a market capitalization of $16.09 billion, a PE ratio of 67.92, a price-to-earnings-growth ratio of 0.54 and a beta of 0.91.

Sun Communities (NYSE:SUI – Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $939.90 million during the quarter, compared to analysts’ expectations of $980.41 million. During the same quarter last year, the business earned $2.57 earnings per share. The business’s quarterly revenue was down 4.4% on a year-over-year basis. On average, analysts anticipate 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 Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.94 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.98%. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

Wall Street Analyst Weigh In

SUI has been the subject of several recent research reports. Truist Financial boosted their price target on shares of Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Baird R W downgraded shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Royal Bank of Canada lowered their price target on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $145.00 to $126.00 in a research note on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price target on shares of Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $139.08.

Read Our Latest Report on Sun Communities

Sun Communities Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding SUI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Communities, Inc. (NYSE:SUI – Free Report).