Steph & Co. Purchases 1,092 Shares of Sun Communities, Inc. (NYSE:SUI)

Steph & Co. raised its position in Sun Communities, Inc. (NYSE:SUI) by 174.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,717 shares of the real estate investment trust’s stock after purchasing an additional 1,092 shares during the period. Steph & Co.’s holdings in Sun Communities were worth $221,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SUI. Sugarloaf Wealth Management LLC increased its position in shares of Sun Communities by 9.2% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 927 shares of the real estate investment trust’s stock worth $124,000 after acquiring an additional 78 shares in the last quarter. Yousif Capital Management LLC increased its position in shares of Sun Communities by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 6,236 shares of the real estate investment trust’s stock worth $833,000 after acquiring an additional 105 shares in the last quarter. US Bancorp DE increased its position in shares of Sun Communities by 0.5% during the fourth quarter. US Bancorp DE now owns 20,541 shares of the real estate investment trust’s stock worth $2,745,000 after acquiring an additional 107 shares in the last quarter. Prime Capital Investment Advisors LLC increased its position in shares of Sun Communities by 4.9% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 2,944 shares of the real estate investment trust’s stock worth $393,000 after acquiring an additional 138 shares in the last quarter. Finally, Centaurus Financial Inc. increased its position in shares of Sun Communities by 12.8% during the fourth quarter. Centaurus Financial Inc. now owns 1,274 shares of the real estate investment trust’s stock worth $170,000 after acquiring an additional 145 shares in the last quarter. Institutional investors own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SUI. Royal Bank of Canada decreased their target price on shares of Sun Communities from $142.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Truist Financial decreased their target price on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a research report on Monday, March 18th. JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a research report on Thursday, May 2nd. Compass Point raised their target price on shares of Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. Finally, Evercore ISI decreased their target price on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. One 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $136.27.

Insider Buying and Selling

In related news, Director Craig Leupold sold 2,500 shares of Sun Communities 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.89% of the stock is owned by corporate insiders.

Sun Communities Trading Up 2.1 %

NYSE:SUI traded up $2.43 during mid-day trading on Monday, hitting $119.95. 457,509 shares of the company’s stock were exchanged, compared to its average volume of 774,365. The company has a 50 day simple moving average of $117.64 and a 200-day simple moving average of $125.49. 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, Inc. has a fifty-two week low of $102.74 and a fifty-two week high of $141.52. The firm has a market capitalization of $14.95 billion, a P/E ratio of 101.31, a PEG ratio of 1.02 and a beta of 0.87.

Sun Communities Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.76 annualized dividend and a yield of 3.13%. Sun Communities’s dividend payout ratio is presently 324.14%.

Sun Communities Company Profile

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.