Natixis Advisors L.P. Grows Stake in Sun Communities, Inc. (NYSE:SUI)

Natixis Advisors L.P. raised its holdings in Sun Communities, Inc. (NYSE:SUI) by 50.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 211,615 shares of the real estate investment trust’s stock after buying an additional 71,379 shares during the quarter. Natixis Advisors L.P. owned about 0.17% of Sun Communities worth $28,281,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SUI. Lindbrook Capital LLC boosted its holdings in Sun Communities by 120.2% in the third quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 125 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Sun Communities by 102.2% during the 3rd quarter. Spire Wealth Management now owns 465 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 235 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Sun Communities during the fourth quarter valued at about $80,000. Tobam raised its stake in Sun Communities by 64.0% in the fourth quarter. Tobam now owns 743 shares of the real estate investment trust’s stock worth $99,000 after buying an additional 290 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC raised its stake in Sun Communities by 33.9% in the third quarter. Sugarloaf Wealth Management LLC now owns 849 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 215 shares in the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Trading Up 0.6 %

Shares of NYSE SUI opened at $117.30 on Friday. The company has a market cap of $14.62 billion, a PE ratio of 101.12, a P/E/G ratio of 1.05 and a beta of 0.83. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.66 and a current ratio of 1.66. The firm’s 50 day moving average price is $125.54 and its 200-day moving average price is $125.60. Sun Communities, Inc. has a 52-week low of $102.74 and a 52-week high of $141.52.

Sun Communities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 3.21%. This is an increase from Sun Communities’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Wednesday, March 27th. Sun Communities’s dividend payout ratio (DPR) is currently 324.14%.

Insiders Place Their Bets

In other news, Director Craig Leupold sold 2,500 shares of the company’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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Craig Leupold sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total transaction of $320,975.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Baxter Underwood sold 4,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $8,789,700.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,000 shares of company stock valued at $912,460. Corporate insiders own 1.89% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on SUI shares. Compass Point upped their target price on Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Royal Bank of Canada decreased their price objective on Sun Communities from $142.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday. BMO Capital Markets dropped their target price on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, January 22nd. Truist Financial decreased their price target on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a research note on Monday, March 18th. Finally, Barclays dropped their price objective 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $138.92.

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.