Yousif Capital Management LLC Has $846,000 Stake in Sun Communities, Inc. (NYSE:SUI)

Yousif Capital Management LLC grew its position in shares of Sun Communities, Inc. (NYSE:SUI) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,575 shares of the real estate investment trust’s stock after acquiring an additional 263 shares during the quarter. Yousif Capital Management LLC’s holdings in Sun Communities were worth $846,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in Sun Communities in the 4th quarter valued at $888,783,000. Cohen & Steers Inc. increased its position in shares of Sun Communities by 30.3% in the fourth quarter. Cohen & Steers Inc. now owns 16,373,446 shares of the real estate investment trust’s stock valued at $2,013,414,000 after acquiring an additional 3,811,528 shares during the last quarter. Dodge & Cox increased its position in shares of Sun Communities by 61.1% in the fourth quarter. Dodge & Cox now owns 9,606,018 shares of the real estate investment trust’s stock valued at $1,181,252,000 after acquiring an additional 3,644,853 shares during the last quarter. FMR LLC raised its holdings in Sun Communities by 51.3% during the fourth quarter. FMR LLC now owns 7,917,870 shares of the real estate investment trust’s stock worth $973,660,000 after acquiring an additional 2,684,214 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Sun Communities by 19.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,549,540 shares of the real estate investment trust’s stock valued at $682,429,000 after purchasing an additional 911,857 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on SUI shares. Jefferies Financial Group started coverage on Sun Communities in a research report on Tuesday, April 8th. They set a “buy” rating and a $150.00 price target on the stock. Robert W. Baird lowered their target price on shares of Sun Communities from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Royal Bank Of Canada dropped their price target on shares of Sun Communities from $154.00 to $147.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Barclays started coverage on shares of Sun Communities in a research report on Thursday, May 29th. They issued an “overweight” rating and a $141.00 price objective for the company. Finally, Bank of America upped their target price on shares of Sun Communities from $124.00 to $132.00 and gave the company an “underperform” rating in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $138.33.

Sun Communities Stock Up 1.7%

Sun Communities stock opened at $125.99 on Friday. The company’s 50-day moving average price is $123.64 and its two-hundred day moving average price is $125.31. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 1.01. The stock has a market cap of $16.08 billion, a P/E ratio of 203.21, a P/E/G ratio of 8.58 and a beta of 0.86. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $147.83.

Sun Communities (NYSE:SUI) last released its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.08. The business had revenue of $470.20 million during the quarter, compared to analysts’ expectations of $538.63 million. Sun Communities had a return on equity of 1.41% and a net margin of 2.85%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm posted $1.19 EPS. As a group, analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Monday, June 30th. This is a boost from Sun Communities’s previous quarterly dividend of $0.94. Sun Communities’s payout ratio is presently 606.45%.

Insider Activity at Sun Communities

In related news, Director Jeff Blau acquired 3,665 shares of the stock in a transaction on Friday, May 23rd. The shares were purchased at an average price of $117.99 per share, for a total transaction of $432,433.35. Following the purchase, the director now directly owns 3,665 shares in the company, valued at approximately $432,433.35. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.77% of the stock is currently owned by corporate insiders.

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.