American Century Companies Inc. Acquires 238,677 Shares of Sun Communities, Inc. (NYSE:SUI)

American Century Companies Inc. increased its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 587.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 279,277 shares of the real estate investment trust’s stock after acquiring an additional 238,677 shares during the quarter. American Century Companies Inc.’s holdings in Sun Communities were worth $34,343,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SUI. Whittier Trust Co. of Nevada Inc. raised its position in shares of Sun Communities by 6.2% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 94,759 shares of the real estate investment trust’s stock valued at $11,652,000 after purchasing an additional 5,498 shares during the period. Whittier Trust Co. grew its stake in Sun Communities by 2.2% in the 4th quarter. Whittier Trust Co. now owns 216,139 shares of the real estate investment trust’s stock valued at $26,578,000 after buying an additional 4,708 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Sun Communities by 86.0% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,122 shares of the real estate investment trust’s stock valued at $4,934,000 after acquiring an additional 18,547 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Sun Communities by 278.3% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 21,278 shares of the real estate investment trust’s stock valued at $2,617,000 after acquiring an additional 15,653 shares during the period. Finally, Xponance Inc. lifted its position in Sun Communities by 14.1% during the fourth quarter. Xponance Inc. now owns 12,383 shares of the real estate investment trust’s stock worth $1,523,000 after acquiring an additional 1,530 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

Sun Communities Trading Up 1.5 %

Shares of Sun Communities stock opened at $130.04 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83. The company has a market capitalization of $16.59 billion, a price-to-earnings ratio of 69.91 and a beta of 0.90. The firm’s 50-day moving average price is $128.88 and its two-hundred day moving average price is $129.19.

Sun Communities (NYSE:SUI) last issued its quarterly 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. The company had revenue of $745.90 million during the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. On average, analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.94 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.76 annualized dividend and a dividend yield of 2.89%. Sun Communities’s payout ratio is 508.11%.

Analyst Upgrades and Downgrades

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

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.