Principal Securities Inc. Has $67,000 Stock Position in Sun Communities, Inc. (NYSE:SUI)

Principal Securities Inc. decreased its stake in Sun Communities, Inc. (NYSE:SUI) by 30.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 545 shares of the real estate investment trust’s stock after selling 244 shares during the quarter. Principal Securities Inc.’s holdings in Sun Communities were worth $67,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Trust acquired a new stake in Sun Communities during the 4th quarter worth about $625,000. Aurora Investment Managers LLC. raised its stake in shares of Sun Communities by 9.7% during the 4th quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock worth $3,380,000 after purchasing an additional 2,435 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Sun Communities by 16.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust’s stock worth $95,885,000 after purchasing an additional 108,054 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Sun Communities by 6.9% during the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock worth $10,434,000 after purchasing an additional 5,008 shares in the last quarter. Finally, VCI Wealth Management LLC purchased a new stake in shares of Sun Communities during the 4th quarter worth about $1,312,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analyst Ratings Changes

SUI has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price objective on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Royal Bank of Canada cut their price objective on Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. 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 research report on Thursday, November 7th. UBS Group lowered shares of Sun Communities from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Finally, Bank of America lowered shares of Sun Communities from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Sun Communities currently has a consensus rating of “Hold” and an average price target of $134.55.

Sun Communities Trading Down 0.8 %

SUI stock opened at $133.81 on Thursday. 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 company’s 50-day simple moving average is $125.30 and its 200 day simple moving average is $129.55. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83. The company has a market capitalization of $17.05 billion, a PE ratio of 71.94 and a beta of 0.90.

Sun Communities (NYSE:SUI) last released its quarterly 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 net margin of 7.46% and a return on equity of 3.21%. As a group, sell-side analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued 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 dividend yield of 2.81%. Sun Communities’s dividend payout ratio (DPR) is currently 202.15%.

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.