Dimensional Fund Advisors LP Purchases 10,592 Shares of Sun Communities, Inc. (NYSE:SUI)

Dimensional Fund Advisors LP grew its position in shares of Sun Communities, Inc. (NYSE:SUI) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,784,547 shares of the real estate investment trust’s stock after buying an additional 10,592 shares during the period. Dimensional Fund Advisors LP’s holdings in Sun Communities were worth $214,752,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bristlecone Advisors LLC grew its stake in shares of Sun Communities by 2.4% in the second quarter. Bristlecone Advisors LLC now owns 3,655 shares of the real estate investment trust’s stock valued at $440,000 after acquiring an additional 85 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Sun Communities by 0.3% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,808 shares of the real estate investment trust’s stock valued at $3,833,000 after purchasing an additional 100 shares during the period. US Bancorp DE grew its position in shares of Sun Communities by 0.5% during the 4th quarter. US Bancorp DE now owns 20,541 shares of the real estate investment trust’s stock worth $2,745,000 after purchasing an additional 107 shares in the last quarter. ZWJ Investment Counsel Inc. increased its holdings in shares of Sun Communities by 5.9% during the first quarter. ZWJ Investment Counsel Inc. now owns 2,017 shares of the real estate investment trust’s stock worth $259,000 after purchasing an additional 112 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Sun Communities by 2.8% in the second quarter. Fifth Third Bancorp now owns 5,179 shares of the real estate investment trust’s stock valued at $623,000 after buying an additional 142 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Price Performance

Shares of NYSE:SUI opened at $143.08 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.42 and a current ratio of 1.42. Sun Communities, Inc. has a 52 week low of $102.74 and a 52 week high of $147.83. The firm has a market cap of $17.83 billion, a PE ratio of 123.34, a price-to-earnings-growth ratio of 1.06 and a beta of 0.91. The firm’s fifty day moving average is $132.28 and its 200-day moving average is $125.10.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.63%. The ex-dividend date is Monday, September 30th. Sun Communities’s payout ratio is presently 324.14%.

Insider Buying and Selling at Sun Communities

In related news, CEO Baxter Underwood sold 3,000 shares of Sun Communities stock in a transaction that occurred on 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 directly owns 63,462 shares of the company’s stock, valued at $8,340,810.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Truist Financial raised their price objective on Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Robert W. Baird boosted their price target on Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Evercore ISI cut shares of Sun Communities from an “outperform” rating to an “inline” rating and upped their price objective for the stock from $144.00 to $149.00 in a research report on Monday. Royal Bank of Canada raised their target price on shares of Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $138.09.

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.