Harvest Portfolios Group Inc. Acquires 4,639 Shares of Sun Communities, Inc. (NYSE:SUI)

Harvest Portfolios Group Inc. grew its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 16.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 32,806 shares of the real estate investment trust's stock after acquiring an additional 4,639 shares during the period. Harvest Portfolios Group Inc.'s holdings in Sun Communities were worth $4,434,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SUI. Quest Partners LLC raised its stake in Sun Communities by 12,700.0% during the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust's stock worth $46,000 after buying an additional 381 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in Sun Communities during the second quarter worth $62,000. Farther Finance Advisors LLC grew its holdings in Sun Communities by 89.1% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust's stock worth $68,000 after purchasing an additional 236 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Sun Communities in the first quarter worth $83,000. Finally, Blue Trust Inc. grew its holdings in Sun Communities by 230.7% in the third quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust's stock worth $84,000 after purchasing an additional 436 shares during the period. Institutional investors own 99.59% of the company's stock.

Sun Communities Trading Down 1.0 %

NYSE SUI traded down $1.39 during trading on Wednesday, hitting $131.83. The company had a trading volume of 1,407,896 shares, compared to its average volume of 807,051. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83. The company has a market cap of $16.44 billion, a price-to-earnings ratio of 154.88, a price-to-earnings-growth ratio of 0.95 and a beta of 0.91. The company's fifty day moving average is $135.73 and its 200-day moving average is $126.74.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.94 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.85%. Sun Communities's dividend payout ratio (DPR) is presently 437.21%.

Analyst Upgrades and Downgrades

SUI has been the subject of a number of research reports. StockNews.com cut shares of Sun Communities from a "hold" rating to a "sell" rating in a report on Friday, October 18th. Truist Financial raised their price target on shares of Sun Communities from $127.00 to $138.00 and gave the stock a "hold" rating in a report on Tuesday, August 13th. UBS Group upgraded shares of Sun Communities to a "strong-buy" rating in a report on Thursday, October 10th. Jefferies Financial Group initiated coverage on shares of Sun Communities in a report on Thursday, October 17th. They set a "buy" rating and a $160.00 price objective for the company. Finally, Robert W. Baird lifted 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Sun Communities presently has an average rating of "Moderate Buy" and an average target price of $143.91.

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.