Whittier Trust Co. of Nevada Inc. Purchases 5,498 Shares of Sun Communities, Inc. (NYSE:SUI)

Whittier Trust Co. of Nevada Inc. grew its position in Sun Communities, Inc. (NYSE:SUI) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,759 shares of the real estate investment trust’s stock after purchasing an additional 5,498 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Sun Communities were worth $11,652,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in shares of Sun Communities in the third quarter valued at about $41,000. Smartleaf Asset Management LLC lifted its holdings in shares of 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 valued at $49,000 after purchasing an additional 124 shares in the last quarter. CKW Financial Group lifted its holdings in shares of Sun Communities by 45.0% in the fourth 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 in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Sun Communities in the third quarter valued at about $60,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Sun Communities by 8.5% in 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 purchasing an additional 84 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Price Performance

Sun Communities stock opened at $131.58 on Friday. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. The stock’s 50 day moving average is $128.03 and its 200-day moving average is $129.53. 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 company has a market capitalization of $16.76 billion, a price-to-earnings ratio of 70.74 and a beta of 0.90.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $724.68 million. Equities research analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current 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 given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Monday, March 31st. Sun Communities’s payout ratio is 508.11%.

Analyst Ratings Changes

Several research firms recently issued reports on SUI. Truist Financial upped 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. Royal Bank of Canada reiterated an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. Jefferies Financial Group dropped their target price on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Finally, Wells Fargo & Company dropped their target price on 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 analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $135.55.

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.