Elo Mutual Pension Insurance Co Increases Stake in Sun Communities, Inc. (NYSE:SUI)

Elo Mutual Pension Insurance Co increased its position in shares of Sun Communities, Inc. (NYSE:SUI) by 13.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,570 shares of the real estate investment trust’s stock after purchasing an additional 1,499 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Sun Communities were worth $1,546,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in shares of Sun Communities during the third quarter valued at approximately $41,000. Smartleaf Asset Management LLC lifted its stake in shares of 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 worth $49,000 after acquiring an additional 124 shares during the last quarter. CKW Financial Group boosted its holdings 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 valued at $53,000 after acquiring an additional 135 shares during the period. Point72 Hong Kong Ltd bought a new position in Sun Communities in the 3rd quarter valued at $60,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Sun Communities by 8.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 84 shares during the period. 99.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wells Fargo & Company cut their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Royal Bank of Canada restated an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Jefferies Financial Group decreased their price target on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Finally, Truist Financial increased their price objective on Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $136.60.

Sun Communities Trading Up 1.5 %

SUI opened at $130.04 on Friday. 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 firm has a market cap of $16.59 billion, a price-to-earnings ratio of 69.91 and a beta of 0.90. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. The stock has a fifty day moving average price of $128.88 and a 200-day moving average price of $129.11.

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

Sun Communities Announces Dividend

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

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.