Empowered Funds LLC Has $313,000 Stake in Sun Communities, Inc. (NYSE:SUI)

Empowered Funds LLC raised its position in shares of Sun Communities, Inc. (NYSE:SUI) by 26.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,547 shares of the real estate investment trust’s stock after acquiring an additional 526 shares during the period. Empowered Funds LLC’s holdings in Sun Communities were worth $313,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Legacy Trust acquired a new stake in Sun Communities in the 4th quarter valued at approximately $625,000. Aurora Investment Managers LLC. boosted its position in shares of Sun Communities by 9.7% in 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 period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Sun Communities by 16.1% in the fourth 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 during the last quarter. Victory Capital Management Inc. grew its stake in shares of Sun Communities by 6.9% in the third quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock worth $10,434,000 after acquiring an additional 5,008 shares during the last quarter. Finally, VCI Wealth Management LLC bought a new position in Sun Communities during the fourth quarter worth $1,312,000. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Stock Up 1.2 %

Shares of NYSE SUI opened at $126.55 on Friday. Sun Communities, Inc. has a 52-week low of $110.98 and a 52-week high of $147.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The business has a fifty day moving average of $124.42 and a two-hundred day moving average of $129.51. The stock has a market cap of $16.12 billion, a PE ratio of 68.04 and a beta of 0.90.

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a yield of 2.97%. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

Wall Street Analyst Weigh In

Several analysts have issued reports on SUI shares. Baird R W lowered shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Robert W. Baird cut Sun Communities from an “outperform” rating to a “neutral” rating and cut their price target for the company from $145.00 to $126.00 in a report on Thursday, November 7th. Jefferies Financial Group decreased their price objective 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, BMO Capital Markets lowered their price objective on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $134.55.

Sun Communities Company 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.