Sumitomo Mitsui Trust Group Inc. raised its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 16.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 779,744 shares of the real estate investment trust's stock after buying an additional 108,054 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.61% of Sun Communities worth $95,885,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of SUI. Northwestern Mutual Wealth Management Co. increased its stake in shares of Sun Communities by 15.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust's stock worth $92,000 after purchasing an additional 102 shares during the period. Sanctuary Advisors LLC acquired a new stake in Sun Communities during the second quarter worth approximately $346,000. GAMMA Investing LLC grew its position in Sun Communities by 30.2% during the third quarter. GAMMA Investing LLC now owns 827 shares of the real estate investment trust's stock worth $112,000 after buying an additional 192 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in Sun Communities by 600.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 700 shares of the real estate investment trust's stock worth $95,000 after buying an additional 600 shares in the last quarter. Finally, Inspire Investing LLC grew its position in Sun Communities by 9.0% during the third quarter. Inspire Investing LLC now owns 14,624 shares of the real estate investment trust's stock worth $1,976,000 after buying an additional 1,208 shares in the last quarter. Institutional investors own 99.59% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the company. Evercore ISI increased their price target on Sun Communities from $149.00 to $150.00 and gave the stock an "in-line" rating in a research report on Monday, October 21st. Bank of America lowered Sun Communities from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $147.00 to $114.00 in a research note on Tuesday, November 12th. StockNews.com lowered Sun Communities from a "hold" rating to a "sell" rating in a research note on Wednesday, November 20th. Wells Fargo & Company decreased their price target on Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Wednesday, December 11th. Finally, BMO Capital Markets decreased their price target on Sun Communities from $145.00 to $138.00 and set an "outperform" rating on the stock in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $134.55.
Get Our Latest Research Report on SUI
Sun Communities Trading Down 1.0 %
Shares of NYSE:SUI traded down $1.20 during midday trading on Wednesday, reaching $125.02. The company's stock had a trading volume of 525,743 shares, compared to its average volume of 790,094. The firm has a market capitalization of $15.93 billion, a price-to-earnings ratio of 67.22 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a 50 day moving average price of $124.30 and a two-hundred day moving average price of $129.69. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83.
Sun Communities Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities's payout ratio is 202.15%.
Sun Communities Company Profile
(
Free Report)
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.
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