Ensign Peak Advisors Inc Decreases Stake in Sun Communities, Inc. (NYSE:SUI)

Ensign Peak Advisors Inc lowered its position in Sun Communities, Inc. (NYSE:SUI) by 10.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 57,872 shares of the real estate investment trust’s stock after selling 6,614 shares during the period. Ensign Peak Advisors Inc’s holdings in Sun Communities were worth $7,117,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd lifted its holdings in 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 purchasing an additional 232 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Sun Communities by 45.1% in 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 in the last quarter. CKW Financial Group lifted its holdings in Sun Communities by 45.0% in the 4th 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. Natixis purchased a new position in Sun Communities in the 4th quarter valued at $90,000. Finally, Quadrant Capital Group LLC lifted its holdings in 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 purchasing an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Robert W. Baird reduced their price target on Sun Communities from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Truist Financial reduced their price target on Sun Communities from $142.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Jefferies Financial Group assumed coverage on Sun Communities in a report on Tuesday, April 8th. They set a “buy” rating and a $150.00 price target on the stock. Royal Bank of Canada reduced their price target 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, JMP Securities reiterated a “market outperform” rating and set a $140.00 price target (down previously from $150.00) on shares of Sun Communities in a report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $138.70.

Sun Communities Stock Down 0.4%

Shares of SUI opened at $124.58 on Wednesday. The firm has a market cap of $15.90 billion, a P/E ratio of 66.98 and a beta of 0.86. 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’s 50-day moving average price is $125.77 and its 200 day moving average price is $126.20. Sun Communities, Inc. has a 12-month low of $109.22 and a 12-month high of $147.83.

Sun Communities (NYSE:SUI) last released its earnings results on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.08. The company had revenue of $470.20 million during the quarter, compared to the consensus estimate of $538.63 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Sun Communities’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 EPS. On average, sell-side analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 3.02%. The ex-dividend date was Monday, March 31st. Sun Communities’s dividend payout ratio is currently 606.45%.

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.