Schroder Investment Management Group Sells 159,739 Shares of Sun Communities, Inc. (NYSE:SUI)

Schroder Investment Management Group decreased its position in Sun Communities, Inc. (NYSE:SUI) by 28.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 406,607 shares of the real estate investment trust’s stock after selling 159,739 shares during the quarter. Schroder Investment Management Group owned 0.32% of Sun Communities worth $49,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of SUI. Smartleaf Asset Management LLC increased its position 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 valued at $49,000 after purchasing an additional 124 shares during the last quarter. CKW Financial Group grew 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 purchasing an additional 135 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Sun Communities in the third quarter worth about $60,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Sun Communities by 8.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 84 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Sun Communities by 86.2% during the fourth quarter. Blue Trust Inc. now owns 1,164 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 539 shares during the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Price Performance

NYSE SUI opened at $128.53 on Tuesday. The company has a market cap of $16.40 billion, a PE ratio of 69.10 and a beta of 0.90. The firm’s 50 day moving average price is $128.93 and its 200-day moving average price is $128.91. 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 52-week low of $110.98 and a 52-week high of $147.83.

Sun Communities (NYSE:SUI) last announced its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. The business had revenue of $745.90 million for 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%. Sell-side analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Monday, March 31st. Sun Communities’s payout ratio is 508.11%.

Analysts Set New Price Targets

SUI has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Jefferies Financial Group cut their price target on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Truist Financial lifted their price objective on shares of Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a report on Monday, March 10th. Finally, Royal Bank of Canada restated an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Sun Communities has an average rating of “Hold” and a consensus target price of $136.60.

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.