Sun Communities, Inc. (NYSE:SUI) Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC lowered its position in shares of Sun Communities, Inc. (NYSE:SUI) by 5.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 467,506 shares of the real estate investment trust’s stock after selling 26,268 shares during the period. Sun Communities makes up approximately 1.6% of Anchor Capital Advisors LLC’s portfolio, making the stock its 16th largest position. Anchor Capital Advisors LLC owned about 0.38% of Sun Communities worth $62,482,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sugarloaf Wealth Management LLC boosted its position in shares of 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 worth $124,000 after purchasing an additional 78 shares during the period. Yousif Capital Management LLC boosted its position in shares of Sun Communities by 1.7% during the 4th quarter. Yousif Capital Management LLC now owns 6,236 shares of the real estate investment trust’s stock worth $833,000 after purchasing an additional 105 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of Sun Communities by 1.9% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 6,002 shares of the real estate investment trust’s stock worth $710,000 after purchasing an additional 112 shares during the period. Lindbrook Capital LLC boosted its position in Sun Communities by 120.2% in the 3rd quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 125 shares during the period. Finally, CIBC Asset Management Inc boosted its position in Sun Communities by 3.1% in the 3rd quarter. CIBC Asset Management Inc now owns 4,306 shares of the real estate investment trust’s stock valued at $510,000 after buying an additional 130 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Insider Activity at Sun Communities

In other news, CEO Baxter Underwood sold 4,000 shares of Sun Communities stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total value of $525,920.00. Following the transaction, the chief executive officer now owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction of $525,920.00. Following the transaction, the chief executive officer now owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Craig Leupold sold 2,500 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $128.39, for a total transaction of $320,975.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,000 shares of company stock valued at $912,460. 1.89% of the stock is currently owned by corporate insiders.

Sun Communities Trading Up 1.0 %

Shares of SUI traded up $1.23 during midday trading on Monday, hitting $120.31. The stock had a trading volume of 809,357 shares, compared to its average volume of 792,017. Sun Communities, Inc. has a fifty-two week low of $102.74 and a fifty-two week high of $141.52. The business has a 50-day simple moving average of $127.11 and a two-hundred day simple moving average of $125.37. The firm has a market cap of $15.00 billion, a P/E ratio of 104.46, a price-to-earnings-growth ratio of 1.07 and a beta of 0.80. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.05.

Sun Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.94 per share. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Wednesday, March 27th. Sun Communities’s dividend payout ratio (DPR) is currently 329.83%.

Analysts Set New Price Targets

SUI has been the subject of several recent analyst reports. Truist Financial decreased their price objective on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a research report on Monday, March 18th. BMO Capital Markets dropped their price objective on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, January 22nd. 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 target on the stock. Barclays dropped their price target on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Finally, Compass Point boosted their price objective on shares of Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $141.17.

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.