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

DekaBank Deutsche Girozentrale lowered its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 4.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 110,373 shares of the real estate investment trust's stock after selling 5,664 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.09% of Sun Communities worth $14,902,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Farmers & Merchants Investments Inc. bought a new position in Sun Communities during the 1st quarter valued at $26,000. Quest Partners LLC boosted its stake in Sun Communities by 12,700.0% during 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 in the last quarter. 1620 Investment Advisors Inc. bought a new position in Sun Communities during the second quarter valued at about $62,000. Blue Trust Inc. grew its holdings in Sun Communities by 230.7% during the third quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust's stock worth $84,000 after acquiring an additional 436 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in Sun Communities in the first quarter worth about $83,000. Institutional investors own 99.59% of the company's stock.

Insider Activity at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of the company's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $131.43, for a total value of $394,290.00. Following the transaction, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.89% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SUI. Jefferies Financial Group initiated coverage on shares of Sun Communities in a research note on Thursday, October 17th. They issued a "buy" rating and a $160.00 price objective on the stock. Robert W. Baird lifted their price target on shares of Sun Communities from $144.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 3rd. StockNews.com downgraded Sun Communities from a "hold" rating to a "sell" rating in a research report on Friday, October 18th. Truist Financial lifted their target price on Sun Communities from $127.00 to $138.00 and gave the stock a "hold" rating in a report on Tuesday, August 13th. Finally, UBS Group raised Sun Communities to a "strong-buy" rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $143.91.

Sun Communities Stock Up 0.7 %

Sun Communities stock traded up $0.90 during trading hours on Wednesday, hitting $132.15. The company had a trading volume of 16,635 shares, compared to its average volume of 803,527. 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 debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market capitalization of $16.48 billion, a P/E ratio of 113.15, a price-to-earnings-growth ratio of 0.98 and a beta of 0.91. The firm's fifty day moving average is $135.82 and its 200-day moving average is $126.27.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities's dividend payout ratio (DPR) is presently 324.14%.

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.