Whittier Trust Co. Buys 5,648 Shares of Sun Communities, Inc. (NYSE:SUI)

Whittier Trust Co. increased its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 211,431 shares of the real estate investment trust's stock after purchasing an additional 5,648 shares during the period. Whittier Trust Co. owned 0.17% of Sun Communities worth $28,574,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SUI. Farmers & Merchants Investments Inc. purchased a new stake in shares of Sun Communities in the 1st quarter worth about $26,000. Quest Partners LLC grew its holdings 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 worth $46,000 after purchasing an additional 381 shares during the period. 1620 Investment Advisors Inc. bought a new position in shares of Sun Communities during the second quarter valued at approximately $62,000. Fidelis Capital Partners LLC purchased a new position in shares of Sun Communities during the first quarter valued at approximately $83,000. Finally, Blue Trust Inc. boosted its position in shares of Sun Communities by 230.7% in the 3rd 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 in the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Baxter Underwood sold 3,000 shares of the company's stock in a transaction dated 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 owns 63,462 shares of the company's stock, valued at $8,340,810.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.89% of the company's stock.

Wall Street Analysts Forecast Growth

SUI has been the subject of a number of recent research reports. Royal Bank of Canada lifted their price objective on Sun Communities from $131.00 to $137.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Truist Financial lifted their price target on Sun Communities from $127.00 to $138.00 and gave the stock a "hold" rating in a research report on Tuesday, August 13th. Evercore ISI increased their price objective on shares of Sun Communities from $149.00 to $150.00 and gave the company an "in-line" rating in a research report on Monday. UBS Group raised shares of Sun Communities to a "strong-buy" rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group started coverage on shares of Sun Communities in a report on Thursday. They set a "buy" rating and a $160.00 price target on the stock. One research 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 has a consensus rating of "Moderate Buy" and an average target price of $143.91.

Sun Communities Stock Performance

SUI traded down $2.22 during mid-day trading on Monday, reaching $133.97. 733,223 shares of the company traded hands, compared to its average volume of 800,679. The stock has a market capitalization of $16.70 billion, a P/E ratio of 115.49, a P/E/G ratio of 1.00 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 quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09. The company's fifty day moving average price is $135.39 and its 200-day moving average price is $125.82.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.94 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.81%. Sun Communities's payout ratio is 324.14%.

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.