Bristlecone Advisors LLC Acquires 3,565 Shares of Sun Communities, Inc. (NYSE:SUI)

Bristlecone Advisors LLC increased its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 64.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 9,120 shares of the real estate investment trust’s stock after purchasing an additional 3,565 shares during the period. Bristlecone Advisors LLC’s holdings in Sun Communities were worth $1,121,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of SUI. FMR LLC boosted its holdings in shares of Sun Communities by 37.6% during the third quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock worth $707,329,000 after acquiring an additional 1,430,630 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Sun Communities by 1,061.4% during the third 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 acquiring an additional 1,209,522 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Sun Communities by 0.3% during the third 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 acquiring an additional 3,254 shares during the period. Westfield Capital Management Co. LP boosted its holdings in shares of Sun Communities by 58.8% during the third quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock worth $129,728,000 after acquiring an additional 355,427 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of 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 acquiring an additional 108,054 shares during the period. Institutional investors own 99.59% of the company’s stock.

Analyst Upgrades and Downgrades

SUI has been the subject of a number of research analyst reports. StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Wells Fargo & Company reduced their price objective on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. UBS Group downgraded shares of Sun Communities from a “buy” rating to a “neutral” rating and dropped their price target for the company from $155.00 to $134.00 in a research report on Thursday, November 14th. Baird R W downgraded shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $145.00 to $126.00 in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Sun Communities presently has an average rating of “Hold” and a consensus price target of $134.55.

Sun Communities Stock Up 0.3 %

Shares of SUI opened at $125.50 on Tuesday. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83. The company has a market cap of $15.99 billion, a P/E ratio of 67.47 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a 50 day simple moving average of $124.35 and a two-hundred day simple moving average of $129.66.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 annualized dividend and a dividend yield of 3.00%. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

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.