Great West Life Assurance Co. Can Acquires 5,066 Shares of Sun Communities, Inc. (NYSE:SUI)
Great West Life Assurance Co. Can raised its holdings in Sun Communities, Inc. (NYSE:SUI – Get Rating) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 125,506 shares of the real estate investment trust’s stock after acquiring an additional 5,066 shares during the period. Great West Life Assurance Co. Can owned about 0.10% of Sun Communities worth $16,983,000 at the end of the most recent quarter.
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A number of other hedge funds and other institutional investors have also recently bought and sold shares of SUI. MetLife Investment Management LLC bought a new position in Sun Communities in the first quarter valued at about $401,000. Yousif Capital Management LLC grew its holdings in shares of Sun Communities by 12.2% during the first quarter. Yousif Capital Management LLC now owns 6,798 shares of the real estate investment trust’s stock worth $1,192,000 after purchasing an additional 739 shares during the last quarter. Raymond James Trust N.A. grew its holdings in shares of Sun Communities by 21.1% during the first quarter. Raymond James Trust N.A. now owns 1,190 shares of the real estate investment trust’s stock worth $208,000 after purchasing an additional 207 shares during the last quarter. Prudential PLC bought a new stake in shares of Sun Communities during the first quarter worth about $385,000. Finally, Cetera Investment Advisers grew its holdings in shares of Sun Communities by 1.9% during the first quarter. Cetera Investment Advisers now owns 3,453 shares of the real estate investment trust’s stock worth $605,000 after purchasing an additional 64 shares during the last quarter. Institutional investors own 93.31% of the company’s stock.
Sun Communities Trading Up 0.4 %
Shares of Sun Communities stock opened at $149.44 on Wednesday. The stock has a fifty day simple moving average of $143.20 and a 200 day simple moving average of $147.24. Sun Communities, Inc. has a 12-month low of $117.63 and a 12-month high of $199.09. The company has a market capitalization of $18.51 billion, a P/E ratio of 72.90, a price-to-earnings-growth ratio of 2.30 and a beta of 0.64. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.83.
Sun Communities (NYSE:SUI – Get Rating) last announced its quarterly earnings data on Monday, October 24th. The real estate investment trust reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.05). Sun Communities had a net margin of 8.81% and a return on equity of 3.34%. During the same period in the prior year, the company posted $2.11 earnings per share. On average, sell-side analysts anticipate that Sun Communities, Inc. will post 7.28 earnings per share for the current fiscal year.
Sun Communities Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th were paid a dividend of $0.88 per share. The ex-dividend date was Thursday, December 29th. This represents a $3.52 annualized dividend and a dividend yield of 2.36%. Sun Communities’s payout ratio is 171.71%.
Wall Street Analyst Weigh In
A number of research firms recently commented on SUI. Truist Financial lifted their price objective on Sun Communities from $147.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, November 30th. Evercore ISI cut their price objective on Sun Communities to $156.00 in a research note on Thursday, October 13th. StockNews.com initiated coverage on Sun Communities in a research note on Wednesday, October 12th. They issued a “sell” rating on the stock. JMP Securities dropped their price target on Sun Communities from $200.00 to $160.00 and set a “market outperform” rating on the stock in a research note on Monday, October 17th. Finally, Royal Bank of Canada dropped their price target on Sun Communities from $174.00 to $164.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.86.
Sun Communities Profile
Sun Communities, Inc is a REIT that, as of March 31, 2022, owned, operated, or had an interest in a portfolio of 603 developed MH, RV and marina properties comprising nearly 159,300 developed sites and over 45,700 wet slips and dry storage spaces in 39 states, Canada, Puerto Rico and the UK.
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