Mutual of America Capital Management LLC Has $1.42 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

Mutual of America Capital Management LLC increased its position in shares of Sun Communities, Inc. (NYSE:SUI) by 260.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,658 shares of the real estate investment trust’s stock after buying an additional 7,701 shares during the period. Mutual of America Capital Management LLC’s holdings in Sun Communities were worth $1,424,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Square LLC raised its position in shares of Sun Communities by 5.2% in the 4th quarter. Capital Square LLC now owns 15,159 shares of the real estate investment trust’s stock worth $2,026,000 after acquiring an additional 756 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in Sun Communities during the fourth quarter worth approximately $12,924,000. Tobam increased its holdings 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 purchasing an additional 290 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new position in Sun Communities in the fourth quarter valued at approximately $321,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Sun Communities by 7.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 472,897 shares of the real estate investment trust’s stock valued at $63,203,000 after buying an additional 34,248 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on SUI. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Sun Communities in a research report on Tuesday, January 30th. They set a “hold” rating and a $129.00 price objective for the company. JMP Securities restated a “market outperform” rating and issued a $150.00 price target on shares of Sun Communities in a report on Wednesday, March 20th. BMO Capital Markets decreased their price target on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, January 22nd. Barclays cut 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 report on Friday, January 26th. Finally, Truist Financial decreased their target price on Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $141.17.

Insider Transactions at Sun Communities

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 transaction, the director now owns 28,400 shares of the company’s stock, valued at $3,724,092. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Sun Communities news, CEO Baxter Underwood sold 4,000 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $131.48, for a total value of $525,920.00. Following the completion of the sale, the chief executive officer now owns 66,852 shares in the company, valued at approximately $8,789,700.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 transaction, the director now directly owns 28,400 shares in the company, valued at approximately $3,724,092. The disclosure for this sale can be found here. Insiders sold a total of 7,000 shares of company stock valued at $912,460 over the last ninety days. 1.89% of the stock is currently owned by insiders.

Sun Communities Trading Down 0.2 %

NYSE:SUI opened at $117.69 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.66 and a quick ratio of 1.66. Sun Communities, Inc. has a one year low of $102.74 and a one year high of $141.52. The company has a market cap of $14.67 billion, a PE ratio of 103.24, a PEG ratio of 7.53 and a beta of 0.80. The firm has a 50-day moving average of $127.89 and a 200-day moving average of $125.20.

Sun Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.94 per share. 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%. The ex-dividend date was Wednesday, March 27th. Sun Communities’s payout ratio is currently 329.83%.

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.