Vanderbilt University Purchases New Position in Sun Communities, Inc. (NYSE:SUI)

Vanderbilt University acquired a new position in Sun Communities, Inc. (NYSE:SUI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,125 shares of the real estate investment trust’s stock, valued at approximately $1,122,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. boosted its holdings in Sun Communities by 2,111.1% during the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 190 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Sun Communities during the 3rd quarter worth about $41,000. CKW Financial Group grew its position in shares of Sun Communities by 45.0% during the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 135 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Sun Communities during the 3rd quarter valued at about $60,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Sun Communities by 89.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 236 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Performance

Shares of SUI stock opened at $126.30 on Thursday. Sun Communities, Inc. has a one year low of $110.98 and a one year 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 firm’s 50 day moving average price is $124.48 and its 200-day moving average price is $129.63. The firm has a market cap of $16.09 billion, a P/E ratio of 67.90 and a beta of 0.90.

Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business had revenue of $939.90 million for the quarter, compared to analyst estimates of $980.41 million. During the same quarter last year, the company earned $2.57 earnings per share. Sun Communities’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, equities research analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid 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 2.98%. Sun Communities’s payout ratio is currently 202.15%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SUI. Royal Bank of Canada cut their price objective on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Robert W. Baird cut shares of Sun Communities from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $145.00 to $126.00 in a research report on Thursday, November 7th. 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 shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Finally, Bank of America downgraded Sun Communities from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $147.00 to $114.00 in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Sun Communities has an average rating of “Hold” and a consensus price target of $134.55.

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.