Duff & Phelps Investment Management Co. Has $72.84 Million Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Duff & Phelps Investment Management Co. cut its position in Sun Communities, Inc. (NYSE:SUI) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 592,367 shares of the real estate investment trust’s stock after selling 17,280 shares during the period. Duff & Phelps Investment Management Co. owned 0.47% of Sun Communities worth $72,843,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in shares of Sun Communities in the 3rd quarter worth approximately $41,000. Smartleaf Asset Management LLC boosted its stake in Sun Communities by 45.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 124 shares in the last quarter. CKW Financial Group grew its holdings in shares of Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 135 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Sun Communities in the third quarter valued at about $60,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in Sun Communities by 8.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 84 shares in the last quarter. 99.59% of the stock is owned by institutional investors.

Sun Communities Trading Down 1.5 %

NYSE SUI opened at $127.96 on Friday. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. 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 stock has a 50 day moving average of $128.80 and a 200-day moving average of $129.26. The company has a market cap of $16.33 billion, a PE ratio of 68.80 and a beta of 0.90.

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

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 dividend on an annualized basis and a yield of 2.94%. Sun Communities’s dividend payout ratio (DPR) is currently 508.11%.

Analyst Upgrades and Downgrades

SUI has been the subject of several research analyst reports. Truist Financial boosted their price objective on shares of Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Jefferies Financial Group reduced 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 note on Thursday, January 2nd. Finally, Wells Fargo & Company cut their target price 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. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $136.60.

Sun Communities 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.