Sun Communities, Inc. (NYSE:SUI) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 673,215 shares of the real estate investment trust’s stock after buying an additional 33,795 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Sun Communities were worth $89,975,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SUI. MetLife Investment Management LLC acquired a new stake in shares of Sun Communities during the first quarter worth about $401,000. Yousif Capital Management LLC boosted its stake in shares of Sun Communities by 12.2% during the first quarter. Yousif Capital Management LLC now owns 6,798 shares of the real estate investment trust’s stock worth $1,192,000 after buying an additional 739 shares during the period. Raymond James Trust N.A. boosted its stake in shares of Sun Communities by 21.1% during the first quarter. Raymond James Trust N.A. now owns 1,190 shares of the real estate investment trust’s stock worth $208,000 after buying an additional 207 shares during the period. Prudential PLC acquired a new stake in shares of Sun Communities during the first quarter worth about $385,000. Finally, Cetera Investment Advisers boosted its stake in shares of Sun Communities by 1.9% during the first quarter. Cetera Investment Advisers now owns 3,453 shares of the real estate investment trust’s stock worth $605,000 after buying an additional 64 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Trading Down 0.1 %

Shares of Sun Communities stock opened at $118.38 on Thursday. Sun Communities, Inc. has a 12-month low of $102.74 and a 12-month high of $141.52. 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 stock has a market cap of $14.75 billion, a PE ratio of 103.84, a price-to-earnings-growth ratio of 7.58 and a beta of 0.80. The company has a 50-day moving average of $128.19 and a two-hundred day moving average of $125.09.

Sun Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.18%. This is a boost 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 329.83%.

Insider Buying and Selling

In related 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 completion of the transaction, the chief executive officer now directly owns 66,852 shares in the company, valued at approximately $8,789,700.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Clunet R. Lewis sold 500 shares of Sun Communities stock in a transaction that occurred 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 in the company, valued at approximately $3,724,092. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 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 disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock worth $912,460 in the last ninety days. Insiders own 1.89% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Truist Financial cut their price target on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a report on Monday, March 18th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Sun Communities in a report on Tuesday, January 30th. They set a “hold” rating and a $129.00 price target for the company. Barclays cut their price target on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, January 26th. Compass Point increased their price target 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. Finally, BMO Capital Markets cut their price target on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $141.17.

Sun Communities 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.