Orion Portfolio Solutions LLC Has $1.12 Million Stock Position in Sun Communities, Inc. (NYSE:SUI)

Orion Portfolio Solutions LLC cut its stake in Sun Communities, Inc. (NYSE:SUI) by 11.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,076 shares of the real estate investment trust’s stock after selling 1,216 shares during the period. Orion Portfolio Solutions LLC’s holdings in Sun Communities were worth $1,116,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legacy Trust bought a new stake in shares of Sun Communities in the 4th quarter valued at $625,000. Aurora Investment Managers LLC. boosted its position in Sun Communities by 9.7% during the fourth quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock valued at $3,380,000 after acquiring an additional 2,435 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Sun Communities by 16.1% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust’s stock worth $95,885,000 after acquiring an additional 108,054 shares in the last quarter. VCI Wealth Management LLC acquired a new position in shares of Sun Communities in the 4th quarter valued at about $1,312,000. Finally, Vert Asset Management LLC boosted its position in shares of Sun Communities by 9.9% during the 4th quarter. Vert Asset Management LLC now owns 56,083 shares of the real estate investment trust’s stock valued at $6,897,000 after purchasing an additional 5,060 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Price Performance

Shares of NYSE SUI opened at $124.43 on Friday. The stock has a market cap of $15.88 billion, a price-to-earnings ratio of 66.90 and a beta of 0.84. 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 firm’s 50-day simple moving average is $129.04 and its 200 day simple moving average is $128.63.

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

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 annualized dividend and a dividend yield of 3.02%. Sun Communities’s payout ratio is 508.11%.

Analyst Ratings Changes

A number of brokerages have weighed in on SUI. Truist Financial lifted their target price on Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a report on Monday, March 10th. 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 research note on Wednesday, December 11th. Royal Bank of Canada restated an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. Finally, Jefferies Financial Group cut 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. 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 company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.