Metis Global Partners LLC Grows Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Metis Global Partners LLC grew its position in shares of Sun Communities, Inc. (NYSE:SUI) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,289 shares of the real estate investment trust’s stock after acquiring an additional 602 shares during the period. Metis Global Partners LLC’s holdings in Sun Communities were worth $1,375,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SUI. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Sun Communities by 5.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 673,215 shares of the real estate investment trust’s stock valued at $89,975,000 after acquiring an additional 33,795 shares in the last quarter. Strs Ohio increased its stake in shares of Sun Communities by 8.6% in the 4th quarter. Strs Ohio now owns 301,096 shares of the real estate investment trust’s stock worth $40,241,000 after acquiring an additional 23,792 shares in the last quarter. abrdn plc lifted its position in Sun Communities by 33.8% during the 4th quarter. abrdn plc now owns 76,538 shares of the real estate investment trust’s stock valued at $10,229,000 after acquiring an additional 19,314 shares during the period. Natixis Advisors L.P. boosted its stake in Sun Communities by 50.9% during the fourth quarter. Natixis Advisors L.P. now owns 211,615 shares of the real estate investment trust’s stock worth $28,281,000 after acquiring an additional 71,379 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Sun Communities by 75.3% in the fourth quarter. Russell Investments Group Ltd. now owns 1,327,781 shares of the real estate investment trust’s stock worth $177,638,000 after purchasing an additional 570,329 shares during the period. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $131.48, for a total transaction of $525,920.00. Following the completion of the sale, the chief executive officer now directly owns 66,852 shares in the company, valued at approximately $8,789,700.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction of $525,920.00. Following the completion of the sale, the chief executive officer now owns 66,852 shares of the company’s stock, valued at approximately $8,789,700.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Craig Leupold sold 2,500 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $128.39, for a total value of $320,975.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,000 shares of company stock valued at $912,460. 1.89% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on SUI shares. Deutsche Bank Aktiengesellschaft initiated coverage on Sun Communities in a research report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 price target on the stock. Evercore ISI cut their target price on Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Compass Point lifted their price target on Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Barclays dropped their price target on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $138.92.

Sun Communities Trading Up 0.2 %

Shares of SUI stock opened at $116.72 on Thursday. The stock has a market capitalization of $14.55 billion, a P/E ratio of 100.62, a P/E/G ratio of 1.05 and a beta of 0.83. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.08. The firm’s 50 day moving average is $124.65 and its 200 day moving average is $125.82. Sun Communities, Inc. has a 12-month low of $102.74 and a 12-month high of $141.52.

Sun Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s dividend payout ratio is 324.14%.

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.