AQR Capital Management LLC Sells 372 Shares of Sun Communities, Inc. (NYSE:SUI)

AQR Capital Management LLC lessened its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 3.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,244 shares of the real estate investment trust’s stock after selling 372 shares during the period. AQR Capital Management LLC’s holdings in Sun Communities were worth $1,111,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in 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 acquiring an additional 1,105,306 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Sun Communities by 3.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust’s stock valued at $354,986,000 after buying an additional 111,569 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Sun Communities by 24.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock valued at $264,253,000 after purchasing an additional 424,842 shares during the last quarter. Centersquare Investment Management LLC boosted its position in Sun Communities by 4.7% during the first quarter. Centersquare Investment Management LLC now owns 2,171,868 shares of the real estate investment trust’s stock worth $279,259,000 after purchasing an additional 96,529 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Sun Communities by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,784,547 shares of the real estate investment trust’s stock valued at $214,752,000 after purchasing an additional 10,592 shares during the period. 99.59% of the stock is owned by institutional investors.

Sun Communities Trading Up 0.7 %

Shares of Sun Communities stock opened at $129.78 on Friday. The business has a fifty day simple moving average of $134.96 and a two-hundred day simple moving average of $125.40. The company has a market capitalization of $16.18 billion, a price-to-earnings ratio of 150.90, a P/E/G ratio of 0.93 and a beta of 0.91. Sun Communities, Inc. has a 1 year low of $102.74 and a 1 year high of $147.83. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a yield of 2.90%. Sun Communities’s dividend payout ratio is currently 437.21%.

Insider Transactions at Sun Communities

In other 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 transaction of $394,290.00. Following the transaction, the chief executive officer now 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 document filed with the Securities & Exchange Commission, which is available through this link. 1.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SUI. Evercore ISI cut Sun Communities from an “outperform” rating to an “inline” rating and upped their price target for the stock from $144.00 to $149.00 in a research note on Monday, September 16th. Royal Bank of Canada increased their price objective on Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. StockNews.com upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a report on Thursday. Truist Financial lifted their price target on 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 boosted their price objective on Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.20.

Sun Communities 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.