1,034 Shares in Sun Communities, Inc. (NYSE:SUI) Acquired by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC purchased a new position in Sun Communities, Inc. (NYSE:SUI) in the second quarter, Holdings Channel reports. The fund purchased 1,034 shares of the real estate investment trust’s stock, valued at approximately $124,000.

A number of other institutional investors also recently added to or reduced their stakes in SUI. Norges Bank purchased a new stake in shares of Sun Communities during the 4th quarter worth approximately $576,397,000. Price T Rowe Associates Inc. MD lifted its position in shares of Sun Communities by 50.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust’s stock worth $424,677,000 after buying an additional 1,105,306 shares during the last quarter. PGGM Investments lifted its position in shares of Sun Communities by 159.9% during the 2nd quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust’s stock worth $150,033,000 after buying an additional 767,126 shares during the last quarter. Heitman Real Estate Securities LLC purchased a new stake in shares of Sun Communities during the 4th quarter worth approximately $17,776,000. Finally, National Bank of Canada FI lifted its position in shares of Sun Communities by 499.9% during the 1st quarter. National Bank of Canada FI now owns 157,977 shares of the real estate investment trust’s stock worth $18,562,000 after buying an additional 131,641 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Performance

Shares of SUI opened at $147.59 on Friday. 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 stock has a market capitalization of $18.39 billion, a P/E ratio of 127.23, a P/E/G ratio of 1.04 and a beta of 0.91. The company’s fifty day moving average is $130.69 and its two-hundred day moving average is $124.89. Sun Communities, Inc. has a 1 year low of $102.74 and a 1 year high of $147.83.

Sun Communities Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.55%. Sun Communities’s dividend payout ratio is currently 324.14%.

Insider Buying and Selling at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of the business’s stock in a transaction on 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 approximately $8,340,810.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.89% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Royal Bank of Canada upped 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. Evercore ISI upped their price target on shares of Sun Communities from $143.00 to $144.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Finally, Truist Financial upped their price target 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. One research 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’s stock. Based on data from MarketBeat, the company currently 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.