Nisa Investment Advisors LLC Reduces Position in Sun Communities, Inc. (NYSE:SUI)

Nisa Investment Advisors LLC decreased its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 22.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,739 shares of the real estate investment trust's stock after selling 10,235 shares during the quarter. Nisa Investment Advisors LLC's holdings in Sun Communities were worth $4,732,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Sun Communities in the 1st quarter worth approximately $1,504,000. Norden Group LLC increased its position in Sun Communities by 67.5% during the first quarter. Norden Group LLC now owns 3,392 shares of the real estate investment trust's stock valued at $435,000 after acquiring an additional 1,367 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Sun Communities by 11.5% in the first quarter. Commonwealth Equity Services LLC now owns 9,277 shares of the real estate investment trust's stock valued at $1,193,000 after acquiring an additional 959 shares during the period. Van ECK Associates Corp raised its stake in shares of Sun Communities by 4.1% in the first quarter. Van ECK Associates Corp now owns 52,987 shares of the real estate investment trust's stock valued at $6,813,000 after acquiring an additional 2,082 shares during the period. Finally, Baillie Gifford & Co. lifted its holdings in shares of Sun Communities by 15.9% in the 1st quarter. Baillie Gifford & Co. now owns 112,033 shares of the real estate investment trust's stock worth $14,405,000 after acquiring an additional 15,333 shares during the last quarter. Institutional investors own 99.59% of the company's stock.

Insider Transactions at Sun Communities

In other news, CEO Baxter Underwood sold 3,000 shares of the firm's stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $131.43, for a total value of $394,290.00. Following the sale, the chief executive officer now directly owns 63,462 shares in the company, valued at approximately $8,340,810.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.89% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial increased their price objective on shares of Sun Communities from $127.00 to $138.00 and gave the stock a "hold" rating in a research report on Tuesday, August 13th. UBS Group raised Sun Communities to a "strong-buy" rating in a research note on Thursday, October 10th. Wells Fargo & Company upped their price objective on Sun Communities from $123.00 to $154.00 and gave the company an "equal weight" rating in a research report on Thursday, September 19th. StockNews.com lowered Sun Communities from a "hold" rating to a "sell" rating in a research note on Friday, October 18th. Finally, Evercore ISI boosted their target price on shares of Sun Communities from $149.00 to $150.00 and gave the company an "in-line" rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.91.

Sun Communities Stock Down 1.8 %

Shares of NYSE SUI traded down $2.37 during midday trading on Friday, reaching $130.31. 722,523 shares of the company's stock traded hands, compared to its average volume of 806,579. The company has a market cap of $16.25 billion, a price-to-earnings ratio of 151.53, a P/E/G ratio of 0.97 and a beta of 0.91. The stock's 50 day simple moving average is $135.78 and its 200-day simple moving average is $126.43. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.94 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.89%. Sun Communities's dividend payout ratio is presently 437.21%.

Sun Communities Company 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.