Lee Financial Co Has $308,000 Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Lee Financial Co lowered its stake in Sun Communities, Inc. (NYSE:SUI) by 60.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,502 shares of the real estate investment trust’s stock after selling 3,775 shares during the quarter. Lee Financial Co’s holdings in Sun Communities were worth $308,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. increased its position in shares of 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 purchasing an additional 190 shares during the last quarter. Brooklyn Investment Group acquired a new position in Sun Communities during the third quarter worth $41,000. CKW Financial Group raised its position in 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 acquiring an additional 135 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Sun Communities in the third quarter valued at $60,000. Finally, 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 acquiring an additional 236 shares during the period. Institutional investors own 99.59% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SUI shares. BMO Capital Markets dropped their target price on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Evercore ISI raised their price objective on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Bank of America lowered Sun Communities from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $147.00 to $114.00 in a report on Tuesday, November 12th. Wells Fargo & Company cut their price target 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. Finally, UBS Group downgraded shares of Sun Communities from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $155.00 to $134.00 in a report on Thursday, November 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $134.55.

Sun Communities Stock Performance

NYSE SUI opened at $125.11 on Friday. The firm has a 50-day moving average price of $124.27 and a two-hundred day moving average price of $129.65. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83. The company has a market capitalization of $15.94 billion, a P/E ratio of 67.27 and a beta of 0.90. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Tuesday, December 31st. Sun Communities’s dividend payout ratio is currently 202.15%.

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.