Forsta AP Fonden Purchases 4,200 Shares of Sun Communities, Inc. (NYSE:SUI)

Forsta AP Fonden grew its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 29.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,600 shares of the real estate investment trust's stock after buying an additional 4,200 shares during the quarter. Forsta AP Fonden's holdings in Sun Communities were worth $2,514,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of SUI. Price T Rowe Associates Inc. MD grew 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 buying an additional 1,105,306 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Sun Communities by 3.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust's stock valued at $354,986,000 after acquiring an additional 111,569 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Sun Communities by 24.0% during the second quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust's stock worth $264,253,000 after purchasing an additional 424,842 shares during the last quarter. Centersquare Investment Management LLC grew its position in shares of Sun Communities by 4.7% in the first 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 purchasing an additional 96,529 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Sun Communities by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,784,547 shares of the real estate investment trust's stock valued at $214,752,000 after purchasing an additional 10,592 shares during the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sun Communities

In related news, CEO Baxter Underwood sold 3,000 shares of the business's 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 in the company, valued at $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 is available at this link. Corporate insiders own 1.89% of the company's stock.

Sun Communities Stock Down 0.2 %

SUI traded down $0.21 during trading on Thursday, reaching $132.68. 818,875 shares of the stock traded hands, compared to its average volume of 806,897. The stock's 50-day simple moving average is $135.83 and its two-hundred day simple moving average is $126.32. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42. Sun Communities, Inc. has a fifty-two week low of $108.87 and a fifty-two week high of $147.83. The stock has a market cap of $16.54 billion, a price-to-earnings ratio of 114.56, a price-to-earnings-growth ratio of 0.98 and a beta of 0.91.

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities's dividend payout ratio (DPR) is 324.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Sun Communities from $123.00 to $154.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 19th. Evercore ISI lifted their target price on Sun Communities from $149.00 to $150.00 and gave the company an "in-line" rating in a report on Monday, October 21st. Robert W. Baird upped their price target on Sun Communities from $144.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 3rd. Truist Financial lifted their price objective on Sun Communities from $127.00 to $138.00 and gave the company a "hold" rating in a research note on Tuesday, August 13th. Finally, StockNews.com cut Sun Communities from a "hold" rating to a "sell" rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sun Communities has a consensus rating of "Moderate Buy" and an average price target of $143.91.

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.