Asset Management One Co. Ltd. Boosts Position in Sun Communities, Inc. (NYSE:SUI)

Asset Management One Co. Ltd. boosted its holdings in Sun Communities, Inc. (NYSE:SUI) by 0.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 223,462 shares of the real estate investment trust’s stock after buying an additional 867 shares during the period. Asset Management One Co. Ltd. owned approximately 0.18% of Sun Communities worth $27,633,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SUI. Assetmark Inc. grew its position in Sun Communities by 2,111.1% in the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 190 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Sun Communities in the third quarter valued at approximately $41,000. CKW Financial Group grew its position in Sun Communities by 45.0% in the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 135 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Sun Communities in the third quarter valued at approximately $60,000. Finally, Farther Finance Advisors LLC grew its position in Sun Communities by 89.1% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after acquiring an additional 236 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Performance

Shares of SUI opened at $125.11 on Friday. The business’s fifty day moving average price is $124.26 and its 200 day moving average price is $129.64. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83. The stock has a market capitalization of $15.94 billion, a PE ratio of 67.27 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities’s payout ratio is 202.15%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SUI shares. Baird R W downgraded shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Wells Fargo & Company decreased their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $145.00 to $126.00 in a research report on Thursday, November 7th. Finally, Royal Bank of Canada decreased their price target on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $134.55.

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.