Lighthouse Investment Partners LLC Takes Position in Sun Communities, Inc. (NYSE:SUI)

Lighthouse Investment Partners LLC purchased a new position in shares of Sun Communities, Inc. (NYSE:SUI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 77,500 shares of the real estate investment trust’s stock, valued at approximately $9,530,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SUI. Aster Capital Management DIFC Ltd increased its holdings in shares of Sun Communities by 263.6% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 232 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Sun Communities by 45.1% during the 4th 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 during the period. CKW Financial Group boosted its position in Sun Communities by 45.0% during the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 135 shares during the period. Natixis acquired a new position in Sun Communities during the 4th quarter worth $90,000. Finally, Quadrant Capital Group LLC boosted its position in Sun Communities by 17.2% during the 4th quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 123 shares during the period. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Up 1.6%

NYSE SUI opened at $125.53 on Monday. The stock has a fifty day moving average of $126.09 and a 200-day moving average of $126.27. The stock has a market capitalization of $16.02 billion, a P/E ratio of 67.49 and a beta of 0.86. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $147.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.08. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business had revenue of $470.20 million during the quarter, compared to analysts’ expectations of $538.63 million. During the same period in the previous year, the firm earned $1.19 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.94 per share. The ex-dividend date was Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.00%. Sun Communities’s dividend payout ratio (DPR) is presently 606.45%.

Wall Street Analysts Forecast Growth

SUI has been the topic of a number of recent analyst reports. Truist Financial cut their target price on Sun Communities from $142.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Jefferies Financial Group started coverage on Sun Communities in a research report on Tuesday, April 8th. They issued a “buy” rating and a $150.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 target price (down from $150.00) on shares of Sun Communities in a research report on Monday, April 21st. Royal Bank of Canada lowered their price objective on Sun Communities from $154.00 to $147.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Finally, Robert W. Baird lowered their price objective on Sun Communities from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Thursday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $136.90.

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.