Elo Mutual Pension Insurance Co Has $1.49 Million Stock Position in Sun Communities, Inc. (NYSE:SUI)

Elo Mutual Pension Insurance Co grew its position in Sun Communities, Inc. (NYSE:SUI) by 8.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,339 shares of the real estate investment trust’s stock after purchasing an additional 968 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Sun Communities were worth $1,485,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Farmers & Merchants Investments Inc. bought a new position in Sun Communities during the first quarter valued at approximately $26,000. V Square Quantitative Management LLC bought a new position in shares of Sun Communities during the 4th quarter valued at $32,000. Quest Partners LLC lifted its stake in shares of 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 valued at $46,000 after purchasing an additional 381 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in Sun Communities in the second quarter worth $62,000. Finally, Fidelis Capital Partners LLC acquired a new position in Sun Communities during the first quarter worth $83,000. 99.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SUI has been the subject of a number of analyst reports. Evercore ISI cut Sun Communities from an “outperform” rating to an “inline” rating and boosted their price target for the stock from $144.00 to $149.00 in a research report on Monday, September 16th. Wells Fargo & Company upped their target price on Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Thursday. Royal Bank of Canada lifted their price target on shares of Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Truist Financial lifted their target price on shares of Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Sun Communities currently has a consensus rating of “Hold” and an average price target of $140.91.

Insider Buying and Selling

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 63,462 shares in the company, valued at approximately $8,340,810.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.89% of the stock is owned by company insiders.

Sun Communities Price Performance

NYSE:SUI opened at $140.62 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market cap of $17.53 billion, a P/E ratio of 121.23, a PEG ratio of 1.07 and a beta of 0.91. The company has a fifty day moving average price of $133.07 and a 200 day moving average price of $125.29. Sun Communities, Inc. has a one year low of $102.74 and a one year high of $147.83.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Monday, September 30th. Sun Communities’s 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.