Sun Communities, Inc. (NYSE:SUI) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its position in Sun Communities, Inc. (NYSE:SUIFree Report) by 10.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,060 shares of the real estate investment trust’s stock after selling 1,183 shares during the quarter. Franklin Resources Inc.’s holdings in Sun Communities were worth $1,345,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in shares of Sun Communities during the fourth quarter worth about $51,000. Spire Wealth Management lifted its stake in shares of Sun Communities by 102.2% during the third 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 in the last quarter. GAMMA Investing LLC acquired a new position in shares of Sun Communities during the fourth quarter worth about $80,000. Tobam lifted its stake in shares of Sun Communities by 64.0% during the fourth quarter. Tobam now owns 743 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 290 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC lifted its stake in shares of Sun Communities by 33.9% during the third quarter. Sugarloaf Wealth Management LLC now owns 849 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 215 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Compass Point lifted their target price on 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 target price 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. 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 research report on Wednesday, May 1st. JMP Securities reaffirmed a “market outperform” rating and set a $150.00 target price on shares of Sun Communities in a research report on Thursday, May 2nd. Finally, Truist Financial dropped their target price on Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $136.27.

Check Out Our Latest Stock Report on SUI

Insider Activity

In other news, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 66,852 shares in the company, valued at $8,789,700.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 66,852 shares in the company, valued at $8,789,700.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Craig Leupold sold 2,500 shares of the business’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. Corporate insiders own 1.89% of the company’s stock.

Sun Communities Stock Up 0.1 %

NYSE:SUI opened at $118.50 on Thursday. The firm has a market capitalization of $14.77 billion, a PE ratio of 102.16, a price-to-earnings-growth ratio of 1.03 and a beta of 0.87. The stock has a 50 day moving average of $119.71 and a 200-day moving average of $126.45. Sun Communities, Inc. has a 52 week low of $102.74 and a 52 week high of $141.52. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.08.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, June 28th. Sun Communities’s dividend payout ratio (DPR) is presently 324.14%.

Sun Communities Profile

(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.

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

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