Sun Communities, Inc. (NYSE:SUI) Shares Sold by Presima Securities ULC

Presima Securities ULC cut its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 16.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,353 shares of the real estate investment trust's stock after selling 22,046 shares during the period. Sun Communities comprises approximately 3.3% of Presima Securities ULC's portfolio, making the stock its 14th largest position. Presima Securities ULC owned approximately 0.09% of Sun Communities worth $14,914,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SUI. Farmers & Merchants Investments Inc. purchased a new stake in Sun Communities in the first quarter valued at $26,000. V Square Quantitative Management LLC acquired a new position in Sun Communities in the fourth quarter valued at $32,000. Quest Partners LLC increased 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 purchasing an additional 381 shares during the period. 1620 Investment Advisors Inc. acquired a new position in Sun Communities in the second quarter valued at $62,000. Finally, Fidelis Capital Partners LLC acquired a new position in Sun Communities in the first quarter valued at $83,000. 99.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Baxter Underwood sold 3,000 shares of the company's 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 transaction, the chief executive officer now owns 63,462 shares of the company's stock, valued at approximately $8,340,810.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.89% of the stock is currently owned by company insiders.

Sun Communities Trading Up 1.1 %

Shares of SUI traded up $1.51 on Thursday, hitting $137.58. 1,292,239 shares of the stock traded hands, compared to its average volume of 800,406. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $17.15 billion, a P/E ratio of 118.61, a P/E/G ratio of 0.95 and a beta of 0.91. The stock's 50 day moving average is $135.04 and its two-hundred day moving average is $125.54. Sun Communities, Inc. has a 1 year low of $102.74 and a 1 year high of $147.83.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities's dividend payout ratio (DPR) is 324.14%.

Analyst Ratings Changes

A number of research firms have commented on SUI. UBS Group upgraded shares of Sun Communities to a "strong-buy" rating in a research note on Thursday, October 10th. Truist Financial boosted their price target on shares of Sun Communities from $127.00 to $138.00 and gave the stock a "hold" rating in a research note on Tuesday, August 13th. StockNews.com upgraded shares of Sun Communities from a "sell" rating to a "hold" rating in a research note on Thursday, October 10th. Evercore ISI lowered shares of Sun Communities from an "outperform" rating to an "inline" rating and boosted their price target for the stock from $144.00 to $149.00 in a research note on Monday, September 16th. Finally, Royal Bank of Canada boosted their price target on shares of Sun Communities from $131.00 to $137.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.82.

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.