DekaBank Deutsche Girozentrale Has $14.90 Million Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

DekaBank Deutsche Girozentrale lowered its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 4.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,373 shares of the real estate investment trust's stock after selling 5,664 shares during the period. DekaBank Deutsche Girozentrale owned 0.09% of Sun Communities worth $14,902,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in SUI. Price T Rowe Associates Inc. MD increased its holdings in shares of Sun Communities by 50.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust's stock worth $424,677,000 after purchasing an additional 1,105,306 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Sun Communities by 3.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust's stock worth $354,986,000 after acquiring an additional 111,569 shares during the period. Daiwa Securities Group Inc. raised its holdings in Sun Communities by 24.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust's stock valued at $264,253,000 after acquiring an additional 424,842 shares in the last quarter. Centersquare Investment Management LLC lifted its position 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 valued at $279,259,000 after acquiring an additional 96,529 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Sun Communities by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,784,547 shares of the real estate investment trust's stock worth $214,752,000 after purchasing an additional 10,592 shares in the last quarter. Institutional investors own 99.59% of the company's stock.

Sun Communities Trading Up 1.2 %

NYSE:SUI traded up $1.64 during mid-day trading on Wednesday, hitting $132.89. 712,204 shares of the company's stock were exchanged, compared to its average volume of 806,840. Sun Communities, Inc. has a fifty-two week low of $108.87 and a fifty-two week 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 firm has a market capitalization of $16.57 billion, a P/E ratio of 113.15, a PEG ratio of 0.98 and a beta of 0.91. The company has a 50 day simple moving average of $135.82 and a 200-day simple moving average of $126.27.

Sun Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.94 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.76 annualized dividend and a dividend yield of 2.83%. Sun Communities's dividend payout ratio is 324.14%.

Insider Buying and Selling

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of Sun Communities stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $131.43, for a total transaction of $394,290.00. Following the transaction, the chief executive officer now directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SUI has been the topic of a number of analyst reports. StockNews.com downgraded shares of Sun Communities from a "hold" rating to a "sell" rating in a research note on Friday, October 18th. 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 research note on Tuesday, August 13th. UBS Group raised Sun Communities to a "strong-buy" rating in a report on Thursday, October 10th. Robert W. Baird boosted their price target on Sun Communities from $144.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada raised 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $143.91.

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.