Choreo LLC Boosts Holdings in Sun Communities, Inc. (NYSE:SUI)

Choreo LLC increased its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 37.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,741 shares of the real estate investment trust’s stock after purchasing an additional 1,553 shares during the period. Choreo LLC’s holdings in Sun Communities were worth $705,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. FMR LLC boosted its position in shares of Sun Communities by 37.6% during the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock worth $707,329,000 after purchasing an additional 1,430,630 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Sun Communities by 1,061.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust’s stock worth $178,868,000 after purchasing an additional 1,209,522 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Sun Communities by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,075,541 shares of the real estate investment trust’s stock worth $145,359,000 after purchasing an additional 3,254 shares during the period. Westfield Capital Management Co. LP boosted its position in shares of Sun Communities by 58.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock worth $129,728,000 after purchasing an additional 355,427 shares during the period. Finally, Adelante Capital Management LLC boosted its position in shares of Sun Communities by 168.7% during the 3rd quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust’s stock worth $75,566,000 after purchasing an additional 351,017 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Price Performance

Shares of SUI opened at $125.50 on Tuesday. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83. The firm’s fifty day simple moving average is $124.35 and its 200-day simple moving average is $129.66. The firm has a market capitalization of $15.99 billion, a price-to-earnings ratio of 67.47 and a beta of 0.90. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities Announces Dividend

The company also recently disclosed 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 3.00%. Sun Communities’s payout ratio is 202.15%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Royal Bank of Canada reduced their target price on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Robert W. Baird lowered shares of Sun Communities from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $145.00 to $126.00 in a report on Thursday, November 7th. BMO Capital Markets reduced their target price on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Finally, StockNews.com lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Sun Communities has a consensus rating of “Hold” and a consensus target price 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.