Orion Portfolio Solutions LLC Sells 1,216 Shares of Sun Communities, Inc. (NYSE:SUI)

Orion Portfolio Solutions LLC trimmed its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 11.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,076 shares of the real estate investment trust’s stock after selling 1,216 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Sun Communities were worth $1,116,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Legacy Trust purchased a new stake in shares of Sun Communities during the 4th quarter valued at $625,000. Aurora Investment Managers LLC. grew its position in Sun Communities by 9.7% during the fourth quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock valued at $3,380,000 after buying an additional 2,435 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Sun Communities by 16.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust’s stock worth $95,885,000 after buying an additional 108,054 shares during the last quarter. VCI Wealth Management LLC purchased a new stake in Sun Communities during the fourth quarter worth about $1,312,000. Finally, Vert Asset Management LLC raised its position in Sun Communities by 9.9% in the fourth quarter. Vert Asset Management LLC now owns 56,083 shares of the real estate investment trust’s stock worth $6,897,000 after acquiring an additional 5,060 shares during the period. 99.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SUI. Royal Bank of Canada restated an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Jefferies Financial Group lowered their target price on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Wells Fargo & Company cut their price target on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Finally, Truist Financial boosted their price objective on Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $136.60.

Sun Communities Trading Down 4.3 %

Shares of SUI opened at $124.43 on Friday. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83. The stock has a market cap of $15.88 billion, a PE ratio of 66.90 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The business’s 50-day moving average price is $129.04 and its 200-day moving average price is $128.63.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. On average, equities analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Monday, March 31st. Sun Communities’s payout ratio is 508.11%.

About Sun Communities

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.