Vontobel Holding Ltd. Cuts Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Vontobel Holding Ltd. decreased its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 6.1% during the fourth quarter, HoldingsChannel reports. The firm owned 2,875 shares of the real estate investment trust’s stock after selling 188 shares during the period. Vontobel Holding Ltd.’s holdings in Sun Communities were worth $384,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. increased its position in Sun Communities by 5.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 673,215 shares of the real estate investment trust’s stock valued at $89,975,000 after purchasing an additional 33,795 shares during the period. Stratos Wealth Partners LTD. grew its position in shares of Sun Communities by 9.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,846 shares of the real estate investment trust’s stock worth $219,000 after buying an additional 155 shares during the last quarter. DNB Asset Management AS grew its position in shares of Sun Communities by 5.6% in the 4th quarter. DNB Asset Management AS now owns 17,647 shares of the real estate investment trust’s stock worth $2,359,000 after buying an additional 932 shares during the last quarter. Arizona State Retirement System grew its position in shares of Sun Communities by 0.7% in the 4th 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 during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Sun Communities by 27.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 118,845 shares of the real estate investment trust’s stock worth $15,886,000 after buying an additional 25,850 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Up 1.5 %

NYSE:SUI opened at $120.08 on Wednesday. The company has a market cap of $14.97 billion, a PE ratio of 105.33, 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 company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.05. The company’s 50 day moving average is $127.64 and its two-hundred day moving average is $125.24.

Sun Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 3.13%. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. The ex-dividend date was Wednesday, March 27th. Sun Communities’s payout ratio is presently 329.83%.

Insider Buying and Selling at Sun Communities

In other Sun Communities news, Director Clunet R. Lewis sold 500 shares of Sun Communities stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total transaction of $65,565.00. Following the completion of the sale, the director now directly owns 28,400 shares in the company, valued at approximately $3,724,092. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Sun Communities news, Director Craig Leupold sold 2,500 shares of Sun Communities stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total transaction of $320,975.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Clunet R. Lewis sold 500 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were 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 owns 28,400 shares of the company’s stock, valued at $3,724,092. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,000 shares of company stock worth $912,460. Company insiders own 1.89% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SUI. JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 price objective on shares of Sun Communities in a research report on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on shares of Sun Communities in a research report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 price objective on the stock. BMO Capital Markets cut their price objective on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, January 22nd. Truist Financial cut their price objective on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a research report on Monday, March 18th. Finally, 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. One investment 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, Sun Communities presently has an average rating of “Hold” and a consensus 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.