Xponance Inc. Sells 112 Shares of Sun Communities, Inc. (NYSE:SUI)

Xponance Inc. lessened its holdings in Sun Communities, Inc. (NYSE:SUI) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,265 shares of the real estate investment trust’s stock after selling 112 shares during the quarter. Xponance Inc.’s holdings in Sun Communities were worth $971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. PGGM Investments purchased a new position in shares of Sun Communities in the 3rd quarter worth about $130,082,000. JPMorgan Chase & Co. boosted its stake in Sun Communities by 18.8% in the third quarter. JPMorgan Chase & Co. now owns 6,567,246 shares of the real estate investment trust’s stock valued at $777,168,000 after acquiring an additional 1,040,076 shares during the last quarter. Resolution Capital Ltd bought a new position in shares of Sun Communities during the 3rd quarter valued at approximately $104,406,000. Rush Island Management LP purchased a new stake in shares of Sun Communities during the 3rd quarter worth approximately $65,134,000. Finally, Ceredex Value Advisors LLC bought a new stake in shares of Sun Communities in the 4th quarter worth approximately $37,775,000. 99.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Craig Leupold sold 2,500 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $128.39, for a total value of $320,975.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Baxter Underwood sold 4,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction of $525,920.00. Following 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 filing with the SEC, which is accessible through this link. Also, Director Craig Leupold sold 2,500 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $128.39, for a total transaction of $320,975.00. The disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock worth $912,460 in the last three months. Corporate insiders own 1.89% of the company’s stock.

Sun Communities Price Performance

SUI stock opened at $118.92 on Friday. The firm has a 50 day moving average of $127.32 and a 200-day moving average of $125.16. The firm has a market capitalization of $14.82 billion, a P/E ratio of 104.32, a price-to-earnings-growth ratio of 1.08 and a beta of 0.80. 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.

Sun Communities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 3.16%. This is an increase from Sun Communities’s previous quarterly dividend of $0.93. The ex-dividend date was Wednesday, March 27th. Sun Communities’s dividend payout ratio (DPR) is presently 329.83%.

Analysts Set New Price Targets

Several equities analysts have weighed in on SUI shares. JMP Securities reissued a “market outperform” rating and set a $150.00 price objective on shares of Sun Communities in a report on Tuesday. BMO Capital Markets cut their price target on Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, January 22nd. Truist Financial decreased their price objective on Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a report on Monday, March 18th. Compass Point upped their price objective on shares of Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Finally, Barclays reduced their target price on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. One 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’s stock. According to MarketBeat.com, Sun Communities 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.