Sun Communities, Inc. (NYSE:SUI) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 9.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,376 shares of the real estate investment trust’s stock after selling 901 shares during the period. Commonwealth Equity Services LLC’s holdings in Sun Communities were worth $1,008,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in shares of Sun Communities by 50.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust’s stock valued at $424,677,000 after purchasing an additional 1,105,306 shares during the last quarter. PGGM Investments boosted its stake in shares of Sun Communities by 159.9% in the second quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust’s stock valued at $150,033,000 after buying an additional 767,126 shares in the last quarter. Heitman Real Estate Securities LLC purchased a new stake in shares of Sun Communities in the fourth quarter valued at approximately $17,776,000. National Bank of Canada FI boosted its stake in shares of Sun Communities by 499.9% in the first quarter. National Bank of Canada FI now owns 157,977 shares of the real estate investment trust’s stock valued at $18,562,000 after buying an additional 131,641 shares in the last quarter. Finally, Easterly Investment Partners LLC purchased a new stake in shares of Sun Communities in the first quarter valued at approximately $16,488,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

SUI has been the topic of a number of research analyst reports. Truist Financial boosted their target price on Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. Royal Bank of Canada boosted their price target on Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Robert W. Baird upped their target price on Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Finally, Evercore ISI lowered Sun Communities from an “outperform” rating to an “inline” rating and upped their target price for the company from $144.00 to $149.00 in a research note on Monday. One research 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $138.09.

Insider Transactions at Sun Communities

In related 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 completion of the transaction, the chief executive officer now owns 63,462 shares of the company’s stock, valued at $8,340,810.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.89% of the company’s stock.

Sun Communities Stock Performance

Shares of NYSE:SUI opened at $144.73 on Wednesday. The firm has a market capitalization of $18.04 billion, a PE ratio of 124.76, a P/E/G ratio of 1.06 and a beta of 0.91. 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 business has a 50-day moving average of $131.79 and a two-hundred day moving average of $124.97. Sun Communities, Inc. has a 12 month low of $102.74 and a 12 month high of $147.83.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Monday, September 30th. Sun Communities’s payout ratio is 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.