Sun Communities, Inc. (NYSE:SUI) Shares Purchased by Choreo LLC

Choreo LLC increased its position in shares of Sun Communities, Inc. (NYSE:SUI) by 75.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,328 shares of the real estate investment trust’s stock after purchasing an additional 3,586 shares during the period. Choreo LLC’s holdings in Sun Communities were worth $989,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. acquired a new stake in shares of Sun Communities during the 1st quarter worth approximately $26,000. V Square Quantitative Management LLC acquired a new stake in Sun Communities during the fourth quarter worth $32,000. Quest Partners LLC raised its position in Sun Communities by 12,700.0% in the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 381 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of Sun Communities during the 2nd quarter worth about $62,000. Finally, Fidelis Capital Partners LLC purchased a new stake in Sun Communities in the 1st quarter valued at about $83,000. 99.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Baxter Underwood sold 3,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $131.43, for a total value of $394,290.00. Following the transaction, the chief executive officer now owns 63,462 shares in the company, valued at approximately $8,340,810.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.89% of the stock is owned by company insiders.

Sun Communities Price Performance

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

Sun Communities Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.