Liberty Mutual Group Asset Management Inc. Has $4.01 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

Liberty Mutual Group Asset Management Inc. grew its position in shares of Sun Communities, Inc. (NYSE:SUI) by 5.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,293 shares of the real estate investment trust’s stock after acquiring an additional 1,665 shares during the quarter. Sun Communities comprises 0.6% of Liberty Mutual Group Asset Management Inc.’s holdings, making the stock its 19th largest holding. Liberty Mutual Group Asset Management Inc.’s holdings in Sun Communities were worth $4,006,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farmers & Merchants Investments Inc. bought a new stake in Sun Communities during the first quarter worth $26,000. V Square Quantitative Management LLC bought a new stake in shares of Sun Communities in the 4th quarter worth $32,000. Quest Partners LLC purchased a new stake in shares of Sun Communities in the fourth quarter valued at about $51,000. 1620 Investment Advisors Inc. bought a new position in shares of Sun Communities during the second quarter valued at about $62,000. Finally, Fidelis Capital Partners LLC purchased a new position in Sun Communities during the first quarter worth about $83,000. Institutional investors own 99.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SUI shares. Evercore ISI lowered shares of Sun Communities from an “outperform” rating to an “inline” rating and increased their price objective for the company from $144.00 to $149.00 in a research note on Monday, September 16th. Royal Bank of Canada lifted their price target on shares of Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Robert W. Baird upped their price objective on shares of Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. 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 research note on Tuesday, August 13th. Finally, Wells Fargo & Company upped their price target on shares of Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $140.91.

Insider Activity at Sun Communities

In other news, CEO Baxter Underwood sold 3,000 shares of the company’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 completion of the sale, the chief executive officer now 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 available through the SEC website. 1.89% of the stock is owned by insiders.

Sun Communities Stock Performance

NYSE:SUI opened at $135.56 on Friday. The stock has a market cap of $16.90 billion, a P/E ratio of 116.86, a PEG ratio of 1.02 and a beta of 0.91. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09. The business’s 50-day moving average price is $133.80 and its two-hundred day moving average price is $125.39. Sun Communities, Inc. has a twelve month low of $102.74 and a twelve month 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 given 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 2.77%. Sun Communities’s dividend payout ratio (DPR) is presently 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.