Dimensional Fund Advisors LP Has $225.01 Million Position in Sun Communities, Inc. (NYSE:SUI)

Dimensional Fund Advisors LP boosted its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,829,816 shares of the real estate investment trust’s stock after acquiring an additional 49,404 shares during the period. Dimensional Fund Advisors LP’s holdings in Sun Communities were worth $225,012,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Aster Capital Management DIFC Ltd boosted its stake in Sun Communities by 263.6% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 232 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Sun Communities by 45.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $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% 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 in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Sun Communities by 17.2% in the 4th quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 123 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Sun Communities by 8.5% in the 4th 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 in the last quarter. Institutional investors own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SUI. Jefferies Financial Group started coverage on Sun Communities in a report on Tuesday, April 8th. They set a “buy” rating and a $150.00 target price on the stock. JMP Securities reiterated a “market outperform” rating and set a $140.00 price objective (down previously from $150.00) on shares of Sun Communities in a report on Monday. Truist Financial lowered their target price on Sun Communities from $142.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $135.70.

Sun Communities Stock Performance

Shares of SUI opened at $121.24 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month high of $147.83. The firm has a fifty day simple moving average of $127.41 and a 200 day simple moving average of $126.99. The stock has a market capitalization of $15.47 billion, a price-to-earnings ratio of 65.18 and a beta of 0.84.

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

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Monday, March 31st. Sun Communities’s payout ratio is presently 508.11%.

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.