Sun Communities, Inc. (NYSE:SUI) Director Craig Leupold Sells 2,500 Shares

Sun Communities, Inc. (NYSE:SUI) Director Craig Leupold sold 2,500 shares of Sun Communities stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $128.39, for a total value of $320,975.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Sun Communities Trading Up 1.8 %

SUI stock opened at $128.58 on Monday. Sun Communities, Inc. has a 52 week low of $102.74 and a 52 week high of $143.99. The company has a market capitalization of $16.00 billion, a PE ratio of 112.79, a price-to-earnings-growth ratio of 8.20 and a beta of 0.81. The company’s 50-day simple moving average is $128.99 and its 200 day simple moving average is $125.08. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.66 and a current ratio of 1.66.

Sun Communities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.94 per share. The ex-dividend date is Wednesday, March 27th. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a dividend yield of 2.92%. Sun Communities’s dividend payout ratio (DPR) is currently 329.83%.

Institutional Investors Weigh In On Sun Communities

Several institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Sun Communities during the 4th quarter valued at $576,397,000. Cohen & Steers Inc. lifted its position in Sun Communities by 40.8% during the second quarter. Cohen & Steers Inc. now owns 12,664,321 shares of the real estate investment trust’s stock worth $1,652,024,000 after purchasing an additional 3,668,076 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Sun Communities by 257.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,197,498 shares of the real estate investment trust’s stock worth $293,697,000 after buying an additional 1,582,871 shares in the last quarter. PGGM Investments bought a new position in Sun Communities in the 3rd quarter valued at about $130,082,000. Finally, JPMorgan Chase & Co. raised its position in shares of Sun Communities by 18.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,567,246 shares of the real estate investment trust’s stock valued at $777,168,000 after buying an additional 1,040,076 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on SUI. BMO Capital Markets dropped their price objective on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, January 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Sun Communities in a research report on Tuesday, January 30th. They set a “hold” rating and a $129.00 price target on the stock. Barclays lowered their price target 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. JMP Securities reiterated a “market outperform” rating and set a $150.00 target price on shares of Sun Communities in a research note on Wednesday, March 20th. Finally, Truist Financial dropped 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $141.17.

About Sun Communities

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.