Hsbc Holdings PLC Grows Stake in Sun Communities, Inc. (NYSE:SUI)

Hsbc Holdings PLC increased its holdings in shares of Sun Communities, Inc. (NYSE:SUIFree Report) by 17.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 116,456 shares of the real estate investment trust’s stock after purchasing an additional 17,361 shares during the quarter. Hsbc Holdings PLC owned approximately 0.09% of Sun Communities worth $15,571,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in Sun Communities during the 4th quarter worth approximately $51,000. Spire Wealth Management boosted its holdings in shares of Sun Communities by 102.2% in the third quarter. Spire Wealth Management now owns 465 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 235 shares during the period. GAMMA Investing LLC purchased a new position in shares of Sun Communities during the fourth quarter worth approximately $80,000. Tobam increased its holdings 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 valued at $99,000 after acquiring an additional 290 shares during the period. Finally, Sugarloaf Wealth Management LLC raised its position in 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. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on SUI shares. 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. Royal Bank of Canada dropped their price target on Sun Communities from $142.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. JMP Securities reaffirmed a “market outperform” rating and set a $150.00 price objective on shares of Sun Communities in a research report on Thursday, May 2nd. Evercore ISI dropped their target price on Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Finally, Truist Financial decreased their price target on Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $136.27.

Read Our Latest Stock Report on SUI

Sun Communities Stock Up 0.1 %

Shares of NYSE:SUI opened at $117.99 on Friday. The stock has a 50-day simple moving average of $120.18 and a 200-day simple moving average of $126.55. The stock has a market capitalization of $14.71 billion, a P/E ratio of 101.72, a PEG ratio of 1.04 and a beta of 0.83. Sun Communities, Inc. has a 1 year low of $102.74 and a 1 year high of $141.52. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.78 and a current ratio of 1.78.

Insider Buying and Selling at Sun Communities

In other news, Director Clunet R. Lewis sold 500 shares of the 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 completion of the sale, the director now owns 28,400 shares of the company’s stock, valued at $3,724,092. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 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 disclosure for this sale can be found here. Insiders have sold a total of 7,000 shares of company stock valued at $912,460 over the last ninety days. Corporate insiders own 1.89% of the company’s stock.

About Sun Communities

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

Receive News & Ratings for Sun Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Communities and related companies with MarketBeat.com's FREE daily email newsletter.