Sun Communities, Inc. (NYSE:SUI) Shares Sold by Axa S.A.

AXA S.A. trimmed its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 37.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 187,413 shares of the real estate investment trust's stock after selling 109,907 shares during the period. AXA S.A. owned 0.15% of Sun Communities worth $22,553,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SUI. Centersquare Investment Management LLC boosted its stake in shares of Sun Communities by 4.7% during the 1st 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. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Sun Communities by 8.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 143,209 shares of the real estate investment trust's stock valued at $18,414,000 after buying an additional 11,195 shares in the last quarter. APG Asset Management US Inc. lifted its holdings in Sun Communities by 10.0% during the 4th quarter. APG Asset Management US Inc. now owns 428,979 shares of the real estate investment trust's stock valued at $57,333,000 after buying an additional 39,028 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in Sun Communities during the 2nd quarter valued at about $13,164,000. Finally, SG Americas Securities LLC lifted its holdings in Sun Communities by 145.0% during the 1st quarter. SG Americas Securities LLC now owns 20,576 shares of the real estate investment trust's stock valued at $2,646,000 after buying an additional 12,177 shares in the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Stock Performance

NYSE:SUI traded up $0.36 during trading hours on Friday, hitting $135.98. 1,389,655 shares of the company were exchanged, compared to its average volume of 782,182. The stock has a market capitalization of $16.95 billion, a price-to-earnings ratio of 117.64, a PEG ratio of 1.02 and a beta of 0.91. Sun Communities, Inc. has a 52-week low of $102.74 and a 52-week 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. The company's 50 day moving average price is $133.99 and its 200-day moving average price is $125.46.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.77%. The ex-dividend date is Monday, September 30th. Sun Communities's dividend payout ratio is presently 324.14%.

Insiders Place Their Bets

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 sale, the chief executive officer now directly owns 63,462 shares of the company's stock, valued at approximately $8,340,810.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.89% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SUI shares. Truist Financial lifted their price objective on shares of Sun Communities from $127.00 to $138.00 and gave the company a "hold" rating in a report on Tuesday, August 13th. Evercore ISI lowered shares of Sun Communities from an "outperform" rating to an "inline" rating and lifted their price objective for the company from $144.00 to $149.00 in a report on Monday, September 16th. Wells Fargo & Company lifted their price objective on shares of Sun Communities from $123.00 to $154.00 and gave the company an "equal weight" rating in a report on Thursday, September 19th. Robert W. Baird boosted their price target 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. Finally, Royal Bank of Canada boosted their price target on shares of Sun Communities from $131.00 to $137.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Sun Communities currently has an average rating of "Hold" and a consensus target price of $140.91.

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.