Sun Communities, Inc. (NYSE:SUI) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. trimmed its position in shares of Sun Communities, Inc. (NYSE:SUIFree Report) by 25.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,200 shares of the real estate investment trust’s stock after selling 20,600 shares during the period. 1832 Asset Management L.P.’s holdings in Sun Communities were worth $8,179,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Evoke Wealth LLC bought a new stake in shares of Sun Communities during the 4th quarter worth about $5,594,000. Clearbridge Investments LLC raised its position in shares of Sun Communities by 12.3% during the 4th quarter. Clearbridge Investments LLC now owns 304,180 shares of the real estate investment trust’s stock worth $40,654,000 after buying an additional 33,382 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Sun Communities by 5.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 673,215 shares of the real estate investment trust’s stock worth $89,975,000 after buying an additional 33,795 shares in the last quarter. Strs Ohio raised its position in shares of Sun Communities by 8.6% during the 4th quarter. Strs Ohio now owns 301,096 shares of the real estate investment trust’s stock worth $40,241,000 after buying an additional 23,792 shares in the last quarter. Finally, abrdn plc raised its position in shares of Sun Communities by 33.8% during the 4th quarter. abrdn plc now owns 76,538 shares of the real estate investment trust’s stock worth $10,229,000 after buying an additional 19,314 shares in the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Sun Communities

In related news, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. 1.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SUI. Evercore ISI dropped their price target on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Royal Bank of Canada dropped their target price on shares of Sun Communities from $142.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Truist Financial dropped their target price 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. JMP Securities reiterated a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a report on Thursday, May 2nd. Finally, Compass Point boosted their target price on shares of Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a 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 given a buy rating to the company. According to MarketBeat.com, Sun Communities has a consensus rating of “Hold” and a consensus price target of $136.27.

Get Our Latest Stock Report on SUI

Sun Communities Stock Performance

Sun Communities stock opened at $115.48 on Friday. The firm’s 50 day simple moving average is $119.25 and its 200-day simple moving average is $126.34. The company has a market cap of $14.39 billion, a P/E ratio of 99.55, a price-to-earnings-growth ratio of 1.05 and a beta of 0.87. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.78 and a quick ratio of 1.78. Sun Communities, Inc. has a fifty-two week low of $102.74 and a fifty-two week high of $141.52.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Friday, June 28th. Sun Communities’s payout ratio 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.

Further Reading

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

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