UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 40,832 Shares of Sun Communities, Inc. (NYSE:SUI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Sun Communities, Inc. (NYSE:SUI) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,364,311 shares of the real estate investment trust’s stock after purchasing an additional 40,832 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Sun Communities were worth $167,769,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Cohen & Steers Inc. increased its stake in shares of Sun Communities by 30.3% during the fourth quarter. Cohen & Steers Inc. now owns 16,373,446 shares of the real estate investment trust’s stock worth $2,013,414,000 after purchasing an additional 3,811,528 shares during the period. Dodge & Cox increased its stake in shares of Sun Communities by 61.1% during the fourth quarter. Dodge & Cox now owns 9,606,018 shares of the real estate investment trust’s stock worth $1,181,252,000 after purchasing an additional 3,644,853 shares during the period. FMR LLC increased its stake in shares of Sun Communities by 51.3% during the fourth quarter. FMR LLC now owns 7,917,870 shares of the real estate investment trust’s stock worth $973,660,000 after purchasing an additional 2,684,214 shares during the period. Norges Bank bought a new position in shares of Sun Communities during the fourth quarter worth approximately $888,783,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Sun Communities by 19.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,549,540 shares of the real estate investment trust’s stock worth $682,429,000 after purchasing an additional 911,857 shares during the period. Institutional investors own 99.59% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SUI shares. Bank of America increased their target price on Sun Communities from $124.00 to $132.00 and gave the stock an “underperform” rating in a research note on Monday, May 12th. 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 research note on Wednesday, May 7th. Truist Financial lowered their price objective on Sun Communities from $142.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. 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 research note on Thursday, May 8th. Finally, JMP Securities restated a “market outperform” rating and set a $140.00 price objective on shares of Sun Communities in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $138.70.

Sun Communities Trading Down 1.6%

NYSE SUI opened at $118.98 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $147.83. The company has a market cap of $15.19 billion, a price-to-earnings ratio of 63.97 and a beta of 0.86. The business’s fifty day moving average is $124.62 and its 200 day moving average is $125.76.

Sun Communities (NYSE:SUI) last released its quarterly earnings data 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. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $470.20 million for the quarter, compared to the consensus estimate of $538.63 million. During the same quarter last year, the business posted $1.19 EPS. Sun Communities’s revenue for the quarter was up .2% on a year-over-year basis. As a group, sell-side analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.94 dividend. The ex-dividend date was Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.16%. Sun Communities’s dividend payout ratio (DPR) is presently 606.45%.

About Sun Communities

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.