Sun Communities, Inc. (NYSE:SUI) Shares Bought by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 10,803.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 16,573 shares of the real estate investment trust’s stock after purchasing an additional 16,421 shares during the quarter. International Assets Investment Management LLC’s holdings in Sun Communities were worth $2,215,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC acquired a new stake in Sun Communities during the 2nd quarter worth about $27,000. Lindbrook Capital LLC grew its position in Sun Communities by 120.2% during the 3rd quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 125 shares during the period. Spire Wealth Management grew its position in Sun Communities by 102.2% during the 3rd quarter. Spire Wealth Management now owns 465 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 235 shares during the period. First Manhattan Co. acquired a new stake in Sun Communities during the 1st quarter worth about $131,000. Finally, Sugarloaf Wealth Management LLC grew its position in Sun Communities by 33.9% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 849 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 215 shares during the period. 99.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BMO Capital Markets cut their price target on Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, January 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Sun Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $129.00 target price on the stock. JMP Securities reissued a “market outperform” rating and set a $150.00 target price on shares of Sun Communities in a research note on Wednesday, March 20th. Truist Financial lowered their target price on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a research note on Monday, March 18th. Finally, Barclays lowered their target price 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 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 currently has an average rating of “Hold” and a consensus target price of $141.17.

Sun Communities Trading Down 0.2 %

Shares of Sun Communities stock opened at $117.69 on Friday. The firm has a market capitalization of $14.67 billion, a PE ratio of 103.24, a P/E/G ratio of 7.57 and a beta of 0.80. Sun Communities, Inc. has a twelve month low of $102.74 and a twelve month high of $141.52. The firm’s 50-day moving average price is $127.89 and its 200 day moving average price is $125.05. 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 paid a $0.94 dividend. The ex-dividend date was Wednesday, March 27th. This is a positive change from Sun Communities’s previous quarterly dividend of $0.93. This represents a $3.76 dividend on an annualized basis and a yield of 3.19%. Sun Communities’s dividend payout ratio (DPR) is currently 329.83%.

Insider Activity at Sun Communities

In related news, Director Clunet R. Lewis sold 500 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total value of $65,565.00. Following 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 Securities & Exchange Commission, which is available at this link. 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 shares were 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 can be accessed through the SEC website. Also, Director Clunet R. Lewis sold 500 shares of the firm’s 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 $3,724,092. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,000 shares of company stock valued at $912,460. 1.89% of the stock is owned by corporate insiders.

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.