Sun Communities, Inc. (NYSE:SUI) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its position in shares of Sun Communities, Inc. (NYSE:SUIFree Report) by 20.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 137,488 shares of the real estate investment trust’s stock after purchasing an additional 23,315 shares during the period. BNP Paribas Financial Markets owned about 0.11% of Sun Communities worth $17,678,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SUI. Norges Bank acquired a new position in Sun Communities in the 4th quarter valued at about $576,397,000. Russell Investments Group Ltd. boosted its holdings in Sun Communities by 75.3% in the 4th quarter. Russell Investments Group Ltd. now owns 1,327,781 shares of the real estate investment trust’s stock valued at $177,638,000 after purchasing an additional 570,329 shares in the last quarter. Waterfront Capital Partners LLC purchased a new stake in Sun Communities in the 4th quarter valued at approximately $42,762,000. Ceredex Value Advisors LLC purchased a new stake in Sun Communities in the 4th quarter valued at approximately $37,775,000. Finally, Deutsche Bank AG boosted its holdings in Sun Communities by 158.6% in the 3rd quarter. Deutsche Bank AG now owns 409,195 shares of the real estate investment trust’s stock valued at $48,424,000 after purchasing an additional 250,952 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Price Performance

SUI stock opened at $117.38 on Tuesday. 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. The stock’s 50 day moving average price is $117.58 and its 200 day moving average price is $124.49. The firm has a market cap of $14.63 billion, a P/E ratio of 101.19, a PEG ratio of 1.05 and a beta of 0.88.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.76 annualized dividend and a yield of 3.20%. Sun Communities’s dividend payout ratio (DPR) is presently 324.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lowered their price objective on Sun Communities from $142.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Evercore ISI decreased their price target on Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Truist Financial decreased their price target on Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a research note on Monday, March 18th. Compass Point boosted their price target on Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Finally, JMP Securities reissued a “market outperform” rating and set a $150.00 price target on shares of Sun Communities in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $136.27.

View Our Latest Report on Sun Communities

Sun Communities Company 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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