Sun Communities, Inc. (NYSE:SUI) Shares Purchased by Choreo LLC

Choreo LLC increased its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 37.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,741 shares of the real estate investment trust’s stock after purchasing an additional 1,553 shares during the quarter. Choreo LLC’s holdings in Sun Communities were worth $705,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. raised its stake in Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 190 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Sun Communities during the 3rd quarter worth $41,000. CKW Financial Group raised its stake 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 worth $53,000 after acquiring an additional 135 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Sun Communities during the 3rd quarter worth $60,000. Finally, Farther Finance Advisors LLC grew its position in Sun Communities by 89.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock worth $68,000 after purchasing an additional 236 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Stock Up 0.3 %

Shares of NYSE:SUI opened at $125.50 on Tuesday. The company has a market cap of $15.99 billion, a price-to-earnings ratio of 67.47 and a beta of 0.90. The firm’s 50-day simple moving average is $124.35 and its 200-day simple moving average is $129.66. 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 fifty-two week low of $110.98 and a fifty-two week high of $147.83.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities’s dividend payout ratio (DPR) is 202.15%.

Wall Street Analysts Forecast Growth

SUI has been the topic of several research reports. Jefferies Financial Group lowered their price objective on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. UBS Group downgraded shares of Sun Communities from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $145.00 to $126.00 in a research report on Thursday, November 7th. Finally, Truist Financial raised shares of Sun Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.