Mutual of America Capital Management LLC Sells 180 Shares of Sun Communities, Inc. (NYSE:SUI)

Mutual of America Capital Management LLC cut its stake in Sun Communities, Inc. (NYSE:SUI) by 1.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,271 shares of the real estate investment trust’s stock after selling 180 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Sun Communities were worth $2,350,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Opal Wealth Advisors LLC purchased a new position in Sun Communities during the first quarter valued at approximately $29,000. Aster Capital Management DIFC Ltd lifted its holdings in Sun Communities by 263.6% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 232 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Sun Communities by 66.4% during the first quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 190 shares in the last quarter. Blue Trust Inc. lifted its holdings in Sun Communities by 510.4% during the first quarter. Blue Trust Inc. now owns 586 shares of the real estate investment trust’s stock valued at $75,000 after purchasing an additional 490 shares in the last quarter. Finally, Natixis purchased a new position in Sun Communities during the fourth quarter valued at approximately $90,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SUI. JMP Securities restated a “market outperform” rating and issued a $140.00 price target on shares of Sun Communities in a research report on Tuesday, May 20th. Truist Financial set a $137.00 price target on shares of Sun Communities and gave the stock a “buy” rating in a research report on Tuesday, June 3rd. Deutsche Bank Aktiengesellschaft set a $135.00 price target on shares of Sun Communities and gave the stock a “hold” rating in a research report on Wednesday, June 25th. Barclays began coverage on shares of Sun Communities in a research report on Thursday, May 29th. They issued an “overweight” rating and a $141.00 price target on the stock. Finally, Jefferies Financial Group began coverage on shares of Sun Communities in a research report on Tuesday, April 8th. They set a “buy” rating and a $150.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Sun Communities presently has a consensus rating of “Hold” and a consensus target price of $137.86.

Insider Transactions at Sun Communities

In other news, Director Jeff Blau bought 3,665 shares of the company’s stock in a transaction on Friday, May 23rd. The stock was bought at an average cost of $117.99 per share, with a total value of $432,433.35. Following the transaction, the director directly owned 3,665 shares in the company, valued at $432,433.35. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.77% of the company’s stock.

Sun Communities Trading Up 0.5%

Shares of NYSE:SUI opened at $125.17 on Friday. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $147.83. The firm has a market capitalization of $15.98 billion, a price-to-earnings ratio of 201.89, a price-to-earnings-growth ratio of 8.51 and a beta of 0.86. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.25 and a quick ratio of 2.25. The business’s 50 day moving average price is $124.85 and its 200-day moving average price is $125.80.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.08. The company had revenue of $470.20 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.19 EPS. On average, equities research analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $1.04 dividend. This is a positive change from Sun Communities’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 3.32%. The ex-dividend date is Monday, June 30th. Sun Communities’s payout ratio is 670.97%.

Sun Communities Profile

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.