Swedbank AB Has $21.94 Million Stake in Sun Communities, Inc. (NYSE:SUI)

Swedbank AB raised its holdings in Sun Communities, Inc. (NYSE:SUI) by 52.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 162,368 shares of the real estate investment trust’s stock after acquiring an additional 56,132 shares during the period. Swedbank AB owned about 0.13% of Sun Communities worth $21,944,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. acquired a new position in Sun Communities in the first quarter valued at about $26,000. V Square Quantitative Management LLC bought a new stake in Sun Communities in the 4th quarter valued at $32,000. Quest Partners LLC boosted its stake 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 purchasing an additional 381 shares during the period. 1620 Investment Advisors Inc. acquired a new position in Sun Communities in the 2nd quarter worth $62,000. Finally, Fidelis Capital Partners LLC acquired a new position in Sun Communities in the 1st quarter worth $83,000. 99.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sun Communities

In other Sun Communities 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 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Robert W. Baird upped their target price on shares of Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company upped their target price on shares of Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. UBS Group raised shares of Sun Communities to a “strong-buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada upped their target price 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. Finally, StockNews.com raised shares of Sun Communities from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Sun Communities presently has an average rating of “Moderate Buy” and an average price target of $142.20.

Sun Communities Stock Up 1.8 %

Shares of SUI stock opened at $136.07 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. The firm’s 50-day moving average is $135.04 and its 200-day moving average is $125.54. The stock has a market cap of $16.96 billion, a price-to-earnings ratio of 117.30, a PEG ratio of 0.94 and a beta of 0.91. Sun Communities, Inc. has a 52-week low of $102.74 and a 52-week high of $147.83.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.94 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.76%. Sun Communities’s dividend payout ratio is currently 324.14%.

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.