Lee Financial Co Has $308,000 Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Lee Financial Co trimmed its position in Sun Communities, Inc. (NYSE:SUI) by 60.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,502 shares of the real estate investment trust’s stock after selling 3,775 shares during the quarter. Lee Financial Co’s holdings in Sun Communities were worth $308,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SUI. Exchange Traded Concepts LLC raised its holdings in shares of Sun Communities by 438.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,292 shares of the real estate investment trust’s stock worth $175,000 after buying an additional 1,052 shares in the last quarter. Creative Planning raised its stake in Sun Communities by 56.8% during the third quarter. Creative Planning now owns 9,491 shares of the real estate investment trust’s stock worth $1,283,000 after acquiring an additional 3,439 shares in the last quarter. Vert Asset Management LLC lifted its holdings in shares of Sun Communities by 0.7% in the third quarter. Vert Asset Management LLC now owns 51,023 shares of the real estate investment trust’s stock worth $6,896,000 after acquiring an additional 372 shares during the last quarter. Generate Investment Management Ltd bought a new position in shares of Sun Communities in the third quarter worth about $9,037,000. Finally, Blue Trust Inc. boosted its stake in shares of Sun Communities by 230.7% in the 3rd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $84,000 after purchasing an additional 436 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SUI has been the subject of several research reports. BMO Capital Markets dropped their price objective on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Evercore ISI raised their price objective on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Jefferies Financial Group lowered their target price on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. UBS Group lowered Sun Communities from a “buy” rating to a “neutral” rating and cut their price target for the company from $155.00 to $134.00 in a research note on Thursday, November 14th. Finally, Royal Bank of Canada lowered their price objective on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $134.55.

Sun Communities Stock Performance

NYSE:SUI opened at $125.11 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The company has a 50 day simple moving average of $124.27 and a two-hundred day simple moving average of $129.65. The company has a market capitalization of $15.94 billion, a PE ratio of 67.27 and a beta of 0.90.

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Tuesday, December 31st. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

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.