Andra AP fonden Acquires 6,800 Shares of Sun Communities, Inc. (NYSE:SUI)

Andra AP fonden lifted its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 35.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 26,000 shares of the real estate investment trust’s stock after buying an additional 6,800 shares during the quarter. Andra AP fonden’s holdings in Sun Communities were worth $3,129,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SUI. Farmers & Merchants Investments Inc. purchased a new stake in shares of Sun Communities during the first quarter valued at approximately $26,000. V Square Quantitative Management LLC purchased a new stake in Sun Communities during the 4th quarter valued at $32,000. Quest Partners LLC grew its holdings in Sun Communities by 12,700.0% in the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 381 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in Sun Communities in the 2nd quarter worth $62,000. Finally, Fidelis Capital Partners LLC purchased a new position in shares of Sun Communities in the first quarter valued at about $83,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Performance

Sun Communities stock opened at $144.62 on Friday. Sun Communities, Inc. has a twelve month low of $102.74 and a twelve month high of $144.82. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $18.03 billion, a P/E ratio of 124.67, a PEG ratio of 1.03 and a beta of 0.91. The stock’s 50 day moving average is $130.11 and its 200 day moving average is $124.77.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.94 per share. The ex-dividend date is Monday, September 30th. This represents a $3.76 annualized dividend and a dividend yield of 2.60%. Sun Communities’s payout ratio is presently 324.14%.

Insider Transactions at Sun Communities

In related news, CEO Baxter Underwood sold 3,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $131.43, for a total transaction of $394,290.00. Following the sale, the chief executive officer now directly owns 63,462 shares of the company’s stock, valued at approximately $8,340,810.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Royal Bank of Canada raised their target price on Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Robert W. Baird raised their price target on Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Truist Financial boosted their price objective on shares of Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research report on Tuesday, August 13th. Finally, Evercore ISI raised their target price on shares of Sun Communities from $143.00 to $144.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Sun Communities has an average rating of “Hold” and a consensus target price of $137.64.

Sun Communities 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.