State of Alaska Department of Revenue Has $9.37 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

State of Alaska Department of Revenue reduced its position in Sun Communities, Inc. (NYSE:SUIFree Report) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,089 shares of the real estate investment trust’s stock after selling 195 shares during the period. State of Alaska Department of Revenue’s holdings in Sun Communities were worth $9,365,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Cohen & Steers Inc. increased its position in Sun Communities by 40.8% in the 2nd quarter. Cohen & Steers Inc. now owns 12,664,321 shares of the real estate investment trust’s stock worth $1,652,024,000 after purchasing an additional 3,668,076 shares during the last quarter. BlackRock Inc. increased its position in Sun Communities by 0.8% in the 2nd quarter. BlackRock Inc. now owns 11,025,713 shares of the real estate investment trust’s stock worth $1,438,415,000 after purchasing an additional 89,404 shares during the last quarter. JPMorgan Chase & Co. increased its position in Sun Communities by 18.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,567,246 shares of the real estate investment trust’s stock worth $777,168,000 after purchasing an additional 1,040,076 shares during the last quarter. State Street Corp increased its position in Sun Communities by 1.5% in the 1st quarter. State Street Corp now owns 5,879,907 shares of the real estate investment trust’s stock worth $833,364,000 after purchasing an additional 85,103 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Sun Communities by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 4,523,701 shares of the real estate investment trust’s stock worth $535,331,000 after purchasing an additional 84,767 shares during the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sun Communities

In other Sun Communities news, Director Craig Leupold sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $128.39, for a total value of $320,975.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Baxter Underwood sold 4,000 shares of Sun Communities stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $131.48, for a total transaction of $525,920.00. Following the sale, the chief executive officer now owns 66,852 shares of the company’s stock, valued at approximately $8,789,700.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig Leupold sold 2,500 shares of Sun Communities stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $128.39, for a total value of $320,975.00. The disclosure for this sale can be found here. Insiders have sold 7,000 shares of company stock valued at $912,460 in the last 90 days. 2.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SUI has been the subject of several recent analyst reports. JMP Securities reiterated a “market outperform” rating and set a $150.00 price target on shares of Sun Communities in a research note on Wednesday, March 20th. Compass Point increased their price objective on Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Truist Financial lowered their price objective on Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a report on Monday, March 18th. BMO Capital Markets lowered their price objective on Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Sun Communities in a report on Tuesday, January 30th. They set a “hold” rating and a $129.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Sun Communities has a consensus rating of “Hold” and an average price target of $141.17.

Read Our Latest Research Report on Sun Communities

Sun Communities Stock Performance

SUI opened at $128.58 on Friday. The firm has a market capitalization of $16.00 billion, a P/E ratio of 112.79, a price-to-earnings-growth ratio of 8.20 and a beta of 0.81. The stock’s 50 day moving average price is $128.99 and its two-hundred day moving average price is $125.06. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.05. Sun Communities, Inc. has a 12-month low of $102.74 and a 12-month high of $143.99.

Sun Communities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.76 dividend on an annualized basis and a yield of 2.92%. This is a positive change from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s dividend payout ratio (DPR) is 329.83%.

Sun Communities Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

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