Poplar Forest Capital LLC Decreases Position in Sun Communities, Inc. (NYSE:SUI)

Poplar Forest Capital LLC decreased its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 22.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,026 shares of the real estate investment trust’s stock after selling 27,040 shares during the quarter. Sun Communities makes up approximately 1.7% of Poplar Forest Capital LLC’s portfolio, making the stock its 27th biggest position. Poplar Forest Capital LLC owned approximately 0.08% of Sun Communities worth $12,843,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Quest Partners LLC increased its position in Sun Communities by 12,700.0% during the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 381 shares during the period. Farther Finance Advisors LLC increased its position in Sun Communities by 89.1% during the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock worth $68,000 after buying an additional 236 shares during the period. 1620 Investment Advisors Inc. acquired a new position in Sun Communities during the second quarter worth approximately $62,000. Blue Trust Inc. increased its position in Sun Communities by 230.7% during the third quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $84,000 after buying an additional 436 shares during the period. Finally, Crewe Advisors LLC acquired a new position in Sun Communities during the first quarter worth approximately $90,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on SUI. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Evercore ISI boosted their target price on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a report on Monday, October 21st. UBS Group raised Sun Communities to a “strong-buy” rating in a report on Thursday, October 10th. Wells Fargo & Company boosted their target price on Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. Finally, Royal Bank of Canada boosted their target price on Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $142.18.

Sun Communities Stock Down 1.0 %

SUI opened at $131.83 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.42 and a current ratio of 1.42. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83. The business’s fifty day moving average is $135.71 and its two-hundred day moving average is $126.78. The company has a market cap of $16.44 billion, a price-to-earnings ratio of 153.29, a PEG ratio of 0.95 and a beta of 0.91.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.85%. Sun Communities’s dividend payout ratio (DPR) is presently 437.21%.

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.