American Century Companies Inc. Purchases 238,677 Shares of Sun Communities, Inc. (NYSE:SUI)

American Century Companies Inc. lifted its position in shares of Sun Communities, Inc. (NYSE:SUI) by 587.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 279,277 shares of the real estate investment trust’s stock after purchasing an additional 238,677 shares during the quarter. American Century Companies Inc. owned 0.22% of Sun Communities worth $34,343,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in Sun Communities during the 3rd quarter worth $41,000. Smartleaf Asset Management LLC raised 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 during the period. CKW Financial Group lifted its holdings in shares of Sun Communities by 45.0% during 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. Point72 Hong Kong Ltd acquired a new position in shares of Sun Communities in the 3rd quarter valued at approximately $60,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew 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 purchasing an additional 84 shares during the period. 99.59% of the stock is owned by institutional investors.

Sun Communities Price Performance

NYSE:SUI opened at $130.04 on Friday. Sun Communities, Inc. has a 52-week low of $110.98 and a 52-week high of $147.83. The company has a market cap of $16.59 billion, a P/E ratio of 69.91 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The stock’s 50-day simple moving average is $128.88 and its 200 day simple moving average is $129.19.

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

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.94 per share. The ex-dividend date is Monday, March 31st. This represents a $3.76 annualized dividend and a dividend yield of 2.89%. Sun Communities’s dividend payout ratio is presently 508.11%.

Analyst Ratings Changes

A number of brokerages have weighed in on SUI. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Wells Fargo & Company cut their price objective on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Truist Financial upped their target price on shares of Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Finally, Jefferies Financial Group dropped their price target on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $136.60.

Sun Communities 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.