Aurora Investment Managers LLC. Increases Holdings in Sun Communities, Inc. (NYSE:SUI)

Aurora Investment Managers LLC. grew its holdings in Sun Communities, Inc. (NYSE:SUI) by 9.7% during the fourth quarter, HoldingsChannel reports. The fund owned 27,490 shares of the real estate investment trust’s stock after purchasing an additional 2,435 shares during the period. Sun Communities accounts for about 2.0% of Aurora Investment Managers LLC.’s investment portfolio, making the stock its 21st biggest holding. Aurora Investment Managers LLC.’s holdings in Sun Communities were worth $3,380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Assetmark Inc. increased its stake 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 purchasing an additional 190 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Sun Communities in the 3rd quarter valued at $41,000. Point72 Hong Kong Ltd purchased a new position in shares of Sun Communities in the 3rd quarter valued at $60,000. Farther Finance Advisors LLC grew its position in shares of Sun Communities by 89.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 236 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Sun Communities by 230.7% during the 3rd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $84,000 after acquiring an additional 436 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Up 1.9 %

SUI stock opened at $126.08 on Tuesday. The stock has a market capitalization of $16.06 billion, a PE ratio of 67.78, a price-to-earnings-growth ratio of 0.51 and a beta of 0.89. The company has a fifty day moving average of $124.39 and a 200-day moving average of $129.26. 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 one year low of $110.98 and a one year high of $147.83.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. During the same quarter in the previous year, the business earned $2.57 EPS. Sun Communities’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, analysts expect that Sun Communities, Inc. will post 6.78 EPS for the current year.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.98%. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

Analysts Set New Price Targets

SUI has been the subject of several research analyst reports. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. BMO Capital Markets decreased their target price on Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada cut their price target on Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company reduced their price objective on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Finally, Bank of America lowered shares of Sun Communities from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given 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 $135.69.

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.