1,610 Shares in Sun Communities, Inc. (NYSE:SUI) Purchased by Bfsg LLC

Bfsg LLC acquired a new stake in shares of Sun Communities, Inc. (NYSE:SUI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,610 shares of the real estate investment trust’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Sugarloaf Wealth Management LLC increased its stake in Sun Communities by 9.2% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 927 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 78 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in Sun Communities by 2.6% during the third quarter. Avior Wealth Management LLC now owns 3,727 shares of the real estate investment trust’s stock valued at $441,000 after purchasing an additional 96 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in Sun Communities by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 6,236 shares of the real estate investment trust’s stock valued at $833,000 after purchasing an additional 105 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Sun Communities by 1.9% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 6,002 shares of the real estate investment trust’s stock valued at $710,000 after purchasing an additional 112 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in Sun Communities by 120.2% during the third quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 125 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Price Performance

SUI stock traded down $1.27 during midday trading on Thursday, reaching $119.03. The stock had a trading volume of 63,626 shares, compared to its average volume of 792,201. The company’s fifty day simple moving average is $127.51 and its 200 day simple moving average is $125.20. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.05. The company has a market cap of $14.84 billion, a price-to-earnings ratio of 105.53, a price-to-earnings-growth ratio of 7.68 and a beta of 0.80. Sun Communities, Inc. has a 52-week low of $102.74 and a 52-week high of $141.52.

Sun Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.76 dividend on an annualized basis and a yield of 3.16%. This is a positive change from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s dividend payout ratio (DPR) is presently 329.83%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SUI. Truist Financial lowered their price target on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a report on Monday, March 18th. JMP Securities reaffirmed a “market outperform” rating and set a $150.00 price objective on shares of Sun Communities in a research note on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Sun Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $129.00 price objective for the company. Compass Point lifted their price objective on shares of Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Finally, BMO Capital Markets lowered their target price on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $141.17.

Insiders Place Their Bets

In other Sun Communities news, Director Clunet R. Lewis sold 500 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total value of $65,565.00. Following the completion of the sale, the director now directly owns 28,400 shares of the company’s stock, valued at approximately $3,724,092. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Craig Leupold sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $128.39, for a total transaction of $320,975.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Clunet R. Lewis sold 500 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total value of $65,565.00. Following the sale, the director now directly owns 28,400 shares of the company’s stock, valued at $3,724,092. The disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock valued at $912,460 in the last three months. 1.89% of the stock is currently owned by insiders.

Sun Communities Company 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.