Livforsakringsbolaget Skandia Omsesidigt Purchases 600 Shares of Sun Communities, Inc. (NYSE:SUI)

Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Sun Communities, Inc. (NYSE:SUI) by 600.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 700 shares of the real estate investment trust’s stock after acquiring an additional 600 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Sun Communities were worth $95,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SUI. Price T Rowe Associates Inc. MD increased its holdings in shares of Sun Communities by 50.3% during the first 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 in the last quarter. PGGM Investments grew its holdings in Sun Communities by 159.9% during the second 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 in the last quarter. Daiwa Securities Group Inc. grew its holdings in Sun Communities by 24.0% during the second quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock worth $264,253,000 after buying an additional 424,842 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Sun Communities by 199.1% during the second quarter. Hsbc Holdings PLC now owns 358,284 shares of the real estate investment trust’s stock worth $42,754,000 after buying an additional 238,498 shares in the last quarter. Finally, National Bank of Canada FI grew its holdings in Sun Communities by 499.9% during the first 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 in the last quarter. Institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Performance

Shares of SUI opened at $133.73 on Wednesday. The stock’s 50-day simple moving average is $134.89 and its 200 day simple moving average is $125.47. The stock has a market capitalization of $16.67 billion, a price-to-earnings ratio of 115.28, a price-to-earnings-growth ratio of 0.94 and a beta of 0.91. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.42 and a current ratio of 1.42. Sun Communities, Inc. has a 52-week low of $102.74 and a 52-week high of $147.83.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.94 per share. The ex-dividend date was Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.81%. Sun Communities’s dividend payout ratio (DPR) is presently 324.14%.

Insider Transactions at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of Sun Communities stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $131.43, for a total transaction of $394,290.00. Following the completion of the sale, the chief executive officer now directly owns 63,462 shares in the company, valued at $8,340,810.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.89% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wells Fargo & Company upped their price target on Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a report on Thursday, September 19th. StockNews.com upgraded Sun Communities from a “sell” rating to a “hold” rating in a report on Thursday, October 10th. Truist Financial upped their price target on Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Royal Bank of Canada boosted their price objective on Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Evercore ISI cut Sun Communities from an “outperform” rating to an “inline” rating and boosted their price objective for the stock from $144.00 to $149.00 in a research report on Monday, September 16th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.20.

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.