Mutual of America Capital Management LLC Grows Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Mutual of America Capital Management LLC grew its holdings in Sun Communities, Inc. (NYSE:SUI) by 5.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,213 shares of the real estate investment trust’s stock after acquiring an additional 555 shares during the period. Mutual of America Capital Management LLC’s holdings in Sun Communities were worth $1,442,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SUI. Farmers & Merchants Investments Inc. purchased a new stake in shares of Sun Communities in the 1st quarter valued at $26,000. V Square Quantitative Management LLC purchased a new stake in Sun Communities during the fourth quarter worth $32,000. CKW Financial Group purchased a new stake in Sun Communities during the first quarter worth $38,000. Quest Partners LLC purchased a new stake in Sun Communities during the fourth quarter worth $51,000. Finally, GAMMA Investing LLC purchased a new stake in Sun Communities during the fourth quarter worth $80,000. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Trading Up 1.0 %

NYSE SUI opened at $123.50 on Monday. Sun Communities, Inc. has a one year low of $102.74 and a one year high of $141.52. The firm has a 50 day simple moving average of $118.07 and a 200-day simple moving average of $124.12. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.78 and a current ratio of 1.78. The firm has a market cap of $15.39 billion, a price-to-earnings ratio of 106.47, a PEG ratio of 0.91 and a beta of 0.88.

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.76 dividend on an annualized basis and a yield of 3.04%. Sun Communities’s dividend payout ratio is currently 324.14%.

Analysts Set New Price Targets

A number of analysts recently issued reports on SUI shares. JMP Securities reissued a “market outperform” rating and set a $150.00 price target on shares of Sun Communities in a report on Thursday, May 2nd. Truist Financial reduced their target price on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a research report on Monday, March 18th. Royal Bank of Canada reduced their target price on shares of Sun Communities from $142.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Compass Point raised their price objective on shares of Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Finally, Evercore ISI dropped their price target on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $134.40.

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.