Allspring Global Investments Holdings LLC Sells 12,129 Shares of Sun Communities, Inc. (NYSE:SUI)

Allspring Global Investments Holdings LLC lowered its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 425,740 shares of the real estate investment trust's stock after selling 12,129 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.33% of Sun Communities worth $52,111,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of SUI. Assetmark Inc. grew its holdings in shares of Sun Communities by 2,111.1% in the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 190 shares during the last quarter. Brooklyn Investment Group purchased a new position in Sun Communities in the 3rd quarter worth about $41,000. CKW Financial Group increased its stake in Sun Communities by 45.0% in the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 135 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Sun Communities during the 3rd quarter worth about $60,000. Finally, Farther Finance Advisors LLC lifted its stake in Sun Communities by 89.1% during the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust's stock valued at $68,000 after buying an additional 236 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Evercore ISI boosted their price target on shares of Sun Communities from $149.00 to $150.00 and gave the company an "in-line" rating in a report on Monday, October 21st. Wells Fargo & Company lowered their price objective on shares of Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Wednesday, December 11th. Royal Bank of Canada reduced their target price on Sun Communities from $147.00 to $135.00 and set an "outperform" rating for the company in a report on Thursday, November 7th. Truist Financial upgraded Sun Communities from a "hold" rating to a "buy" rating in a report on Friday, January 17th. Finally, Baird R W lowered Sun Communities from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $134.55.

Sun Communities Stock Down 1.2 %

Shares of Sun Communities stock traded down $1.50 during trading on Monday, hitting $125.11. 636,495 shares of the stock traded hands, compared to its average volume of 795,743. The stock has a market cap of $15.94 billion, a P/E ratio of 67.27 and a beta of 0.90. The company has a fifty day moving average price of $124.27 and a two-hundred day moving average price of $129.67. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid 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 dividend payout ratio (DPR) is presently 202.15%.

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.