Sun Communities, Inc. (NYSE:SUI) Shares Sold by Signaturefd LLC

Signaturefd LLC lessened its stake in Sun Communities, Inc. (NYSE:SUI) by 35.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,853 shares of the real estate investment trust’s stock after selling 1,024 shares during the quarter. Signaturefd LLC’s holdings in Sun Communities were worth $248,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings 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 buying an additional 1,040,076 shares in the last quarter. Principal Financial Group Inc. increased its stake in Sun Communities by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 4,523,701 shares of the real estate investment trust’s stock valued at $535,331,000 after purchasing an additional 84,767 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Sun Communities by 1.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,597,775 shares of the real estate investment trust’s stock worth $347,193,000 after purchasing an additional 31,831 shares during the last quarter. FMR LLC boosted its position in Sun Communities by 10.9% during the third quarter. FMR LLC now owns 2,406,644 shares of the real estate investment trust’s stock worth $284,802,000 after purchasing an additional 236,771 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Sun Communities by 0.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,312,909 shares of the real estate investment trust’s stock valued at $273,710,000 after purchasing an additional 16,368 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Insider Activity at Sun Communities

In other Sun Communities news, Director Craig Leupold sold 2,500 shares of the business’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 transaction of $320,975.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Clunet R. Lewis sold 500 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total transaction of $65,565.00. Following 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 link. Also, Director Craig Leupold sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $128.39, for a total value of $320,975.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,000 shares of company stock worth $912,460. Company insiders own 1.89% of the company’s stock.

Sun Communities Stock Up 0.1 %

Shares of NYSE SUI opened at $119.08 on Friday. The stock has a market capitalization of $14.84 billion, a PE ratio of 104.46, a P/E/G ratio of 1.06 and a beta of 0.80. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.05. The firm has a fifty day moving average of $127.11 and a 200-day moving average of $125.17. Sun Communities, Inc. has a 52-week low of $102.74 and a 52-week high of $141.52.

Sun Communities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s dividend payout ratio is 329.83%.

Analyst Ratings Changes

Several research analysts have recently issued reports on SUI shares. Deutsche Bank Aktiengesellschaft started coverage on Sun Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $129.00 price target for the company. Truist Financial reduced their price target on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a report on Monday, March 18th. Barclays dropped their price objective 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. JMP Securities restated a “market outperform” rating and set a $150.00 target price on shares of Sun Communities in a research report on Tuesday. Finally, Compass Point boosted their price target on Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $141.17.

Sun Communities Company 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.