Cwm LLC Has $213,000 Stake in Sun Communities, Inc. (NYSE:SUI)

Cwm LLC boosted its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 60.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,590 shares of the real estate investment trust’s stock after buying an additional 598 shares during the quarter. Cwm LLC’s holdings in Sun Communities were worth $213,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SUI. Lindbrook Capital LLC lifted its stake in shares of Sun Communities by 120.2% in the third quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 125 shares during the period. Spire Wealth Management raised its holdings 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 last quarter. Tobam lifted its position in shares of Sun Communities by 64.0% in the 4th quarter. Tobam now owns 743 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 290 shares during the period. Sugarloaf Wealth Management LLC boosted its stake in shares of Sun Communities by 33.9% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 849 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 215 shares during the last quarter. Finally, Raymond James Trust N.A. acquired a new stake in shares of Sun Communities during the fourth quarter worth $203,000. Institutional investors own 99.59% of the company’s stock.

Sun Communities Trading Up 0.6 %

NYSE SUI opened at $117.30 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.05. Sun Communities, Inc. has a 52 week low of $102.74 and a 52 week high of $141.52. The business has a 50 day moving average price of $125.54 and a 200-day moving average price of $125.60. The company has a market cap of $14.62 billion, a price-to-earnings ratio of 101.12, a P/E/G ratio of 1.04 and a beta of 0.83.

Sun Communities Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Wednesday, March 27th. This is a positive change from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s payout ratio is 324.14%.

Insiders Place Their Bets

In other news, Director Clunet R. Lewis sold 500 shares of Sun Communities stock in a transaction dated 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 directly owns 28,400 shares in the company, valued at $3,724,092. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Baxter Underwood sold 4,000 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $131.48, for a total transaction of $525,920.00. Following the completion of the sale, the chief executive officer now owns 66,852 shares in the company, valued at $8,789,700.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Clunet R. Lewis sold 500 shares of the firm’s stock in a transaction on 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 owns 28,400 shares in the company, valued at $3,724,092. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,000 shares of company stock worth $912,460. Insiders own 1.89% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. JMP Securities restated a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a report on Thursday. Barclays cut their target price on Sun Communities from $157.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. Royal Bank of Canada lowered their target price on Sun Communities from $142.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft began coverage on Sun Communities in a report on Tuesday, January 30th. They set a “hold” rating and a $129.00 price target on the stock. Finally, Compass Point raised their price objective on shares of Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $138.92.

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.