Bristlecone Advisors LLC Has $1.12 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

Bristlecone Advisors LLC lifted its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 64.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 9,120 shares of the real estate investment trust’s stock after purchasing an additional 3,565 shares during the quarter. Bristlecone Advisors LLC’s holdings in Sun Communities were worth $1,121,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Assetmark Inc. grew its stake in shares of Sun Communities by 2,111.1% in the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 190 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Sun Communities in the third quarter worth $41,000. CKW Financial Group grew its stake in shares of Sun Communities by 45.0% in the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 135 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Sun Communities in the third quarter worth $60,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Sun Communities by 89.1% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock worth $68,000 after purchasing an additional 236 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. BMO Capital Markets reduced their price objective on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Truist Financial raised shares of Sun Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Baird R W cut shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Evercore ISI boosted their price objective on shares of Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Finally, StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $134.55.

Sun Communities Price Performance

SUI stock opened at $125.50 on Tuesday. The stock has a market capitalization of $15.99 billion, a PE ratio of 67.47 and a beta of 0.90. The company’s 50-day moving average is $124.35 and its 200-day moving average is $129.66. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.00%. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

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.