Stratos Wealth Partners LTD. Purchases 866 Shares of Sun Communities, Inc. (NYSE:SUI)

Stratos Wealth Partners LTD. lifted its position in shares of Sun Communities, Inc. (NYSE:SUI) by 46.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,712 shares of the real estate investment trust’s stock after purchasing an additional 866 shares during the period. Stratos Wealth Partners LTD.’s holdings in Sun Communities were worth $363,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. DNB Asset Management AS increased its stake in shares of Sun Communities by 5.6% during the fourth quarter. DNB Asset Management AS now owns 17,647 shares of the real estate investment trust’s stock worth $2,359,000 after purchasing an additional 932 shares during the period. Arizona State Retirement System grew its position in Sun Communities by 0.7% during the fourth quarter. Arizona State Retirement System now owns 34,195 shares of the real estate investment trust’s stock worth $4,570,000 after buying an additional 253 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its position in Sun Communities by 2,782.0% during the third quarter. Schonfeld Strategic Advisors LLC now owns 227,595 shares of the real estate investment trust’s stock worth $26,934,000 after buying an additional 219,698 shares in the last quarter. Schroder Investment Management Group grew its position in Sun Communities by 50.8% during the third quarter. Schroder Investment Management Group now owns 562,238 shares of the real estate investment trust’s stock worth $66,535,000 after buying an additional 189,510 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Sun Communities by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,013,843 shares of the real estate investment trust’s stock worth $119,978,000 after buying an additional 8,200 shares in the last quarter. Institutional investors own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Sun Communities in a research report on Tuesday, January 30th. They set a “hold” rating and a $129.00 price target on the stock. Compass Point raised their target price on Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a report on Wednesday, March 20th. BMO Capital Markets reduced their target price 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, Truist Financial reduced their target price on Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $141.17.

Sun Communities Trading Down 1.6 %

NYSE SUI opened at $120.68 on Monday. 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 twelve month low of $102.74 and a twelve month high of $141.52. The company has a market cap of $15.04 billion, a price-to-earnings ratio of 105.86, a price-to-earnings-growth ratio of 7.72 and a beta of 0.80. The business’s fifty day moving average is $128.50 and its 200 day moving average is $125.12.

Sun Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be issued a dividend of $0.94 per share. This is an increase from Sun Communities’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.76 annualized dividend and a dividend yield of 3.12%. Sun Communities’s dividend payout ratio (DPR) is 329.83%.

Insider Activity at Sun Communities

In related news, CEO Baxter Underwood sold 4,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 66,852 shares of the company’s stock, valued at approximately $8,789,700.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related 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 transaction of $65,565.00. Following the completion of the transaction, 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 SEC, which can be accessed through the SEC website. Also, CEO Baxter Underwood sold 4,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $131.48, for a total value of $525,920.00. Following the transaction, the chief executive officer now directly owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The disclosure for this sale can be found here. Insiders have sold a total of 7,000 shares of company stock valued at $912,460 in the last 90 days. 1.89% of the stock is owned by corporate insiders.

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.