Sun Communities, Inc. (NYSE:SUI) Stock Position Lowered by SG Americas Securities LLC

SG Americas Securities LLC lowered its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 68.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,051 shares of the real estate investment trust's stock after selling 32,377 shares during the quarter. SG Americas Securities LLC's holdings in Sun Communities were worth $2,034,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. purchased a new stake in shares of Sun Communities in the 1st quarter valued at $26,000. V Square Quantitative Management LLC purchased a new position in shares of Sun Communities during the fourth quarter worth about $32,000. Quest Partners LLC lifted its stake in Sun Communities by 12,700.0% in the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust's stock valued at $46,000 after buying an additional 381 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Sun Communities during the 2nd quarter worth $62,000. Finally, Fidelis Capital Partners LLC acquired a new position in Sun Communities in the 1st quarter valued at about $83,000. Hedge funds and other institutional investors own 99.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SUI. Robert W. Baird raised their price objective on shares of Sun Communities from $144.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, September 3rd. Evercore ISI cut shares of Sun Communities from an "outperform" rating to an "inline" rating and raised their price objective for the stock from $144.00 to $149.00 in a research note on Monday, September 16th. Truist Financial upped their target price 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. Wells Fargo & Company lifted their price objective on Sun Communities from $123.00 to $154.00 and gave the company an "equal weight" rating in a research report on Thursday, September 19th. Finally, StockNews.com cut shares of Sun Communities from a "hold" rating to a "sell" rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $142.20.

Sun Communities Stock Down 2.0 %

SUI stock traded down $2.58 during midday trading on Tuesday, hitting $125.02. 350,746 shares of the company's stock were exchanged, compared to its average volume of 785,589. Sun Communities, Inc. has a 12-month low of $102.74 and a 12-month high of $147.83. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $15.58 billion, a price-to-earnings ratio of 109.98, a price-to-earnings-growth ratio of 0.97 and a beta of 0.91. The firm has a 50 day moving average price of $135.05 and a 200-day moving average price of $125.42.

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Monday, September 30th. Sun Communities's payout ratio is currently 324.14%.

Insider Buying and Selling

In other news, CEO Baxter Underwood sold 3,000 shares of the business's stock in a transaction 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 transaction, the chief executive officer now owns 63,462 shares of the company's stock, valued at approximately $8,340,810.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.89% of the stock is currently owned by company insiders.

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.