V Square Quantitative Management LLC Invests $32,000 in Sun Communities, Inc. (NYSE:SUI)

V Square Quantitative Management LLC purchased a new position in shares of Sun Communities, Inc. (NYSE:SUI) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 240 shares of the real estate investment trust’s stock, valued at approximately $32,000.

Several other hedge funds also recently modified their holdings of SUI. Norges Bank bought a new stake in shares of Sun Communities during the 4th quarter worth $576,397,000. JPMorgan Chase & Co. boosted its holdings in shares of Sun Communities by 18.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,567,246 shares of the real estate investment trust’s stock worth $777,168,000 after buying an additional 1,040,076 shares during the period. Resolution Capital Ltd bought a new stake in shares of Sun Communities during the 3rd quarter worth $104,406,000. Russell Investments Group Ltd. boosted its holdings in shares of Sun Communities by 75.3% during the 4th quarter. Russell Investments Group Ltd. now owns 1,327,781 shares of the real estate investment trust’s stock worth $177,638,000 after buying an additional 570,329 shares during the period. Finally, Rush Island Management LP bought a new stake in shares of Sun Communities during the 3rd quarter worth $65,134,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Price Performance

NYSE:SUI opened at $116.03 on Wednesday. The firm has a market cap of $14.46 billion, a PE ratio of 100.03, a price-to-earnings-growth ratio of 1.03 and a beta of 0.87. Sun Communities, Inc. has a 12 month low of $102.74 and a 12 month high of $141.52. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.08. The company’s 50-day moving average price is $118.00 and its two-hundred day moving average price is $125.81.

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.76 dividend on an annualized basis and a yield of 3.24%. Sun Communities’s dividend payout ratio (DPR) is presently 324.14%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Evercore ISI reduced their price target on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Compass Point increased their price target on shares of Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Royal Bank of Canada reduced their price target on shares of Sun Communities from $142.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. JMP Securities reissued a “market outperform” rating and issued a $150.00 price target on shares of Sun Communities in a report on Thursday, May 2nd. Finally, Truist Financial reduced their price target on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $136.27.

Insider Buying and Selling at Sun Communities

In other Sun Communities news, Director Craig Leupold sold 2,500 shares of the business’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Sun Communities news, Director Craig Leupold sold 2,500 shares of the business’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $8,789,700.96. The disclosure for this sale can be found here. Company insiders own 1.89% of the company’s stock.

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.