Sun Communities, Inc. (NYSE:SUI) Shares Acquired by Spire Wealth Management

Spire Wealth Management raised its position in Sun Communities, Inc. (NYSE:SUIFree Report) by 102.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 465 shares of the real estate investment trust’s stock after purchasing an additional 235 shares during the period. Spire Wealth Management’s holdings in Sun Communities were worth $55,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SUI. Cohen & Steers Inc. lifted its stake in shares of Sun Communities by 40.8% during the 2nd quarter. Cohen & Steers Inc. now owns 12,664,321 shares of the real estate investment trust’s stock worth $1,652,024,000 after purchasing an additional 3,668,076 shares during the period. BlackRock Inc. grew its holdings in Sun Communities by 0.8% in the 2nd quarter. BlackRock Inc. now owns 11,025,713 shares of the real estate investment trust’s stock valued at $1,438,415,000 after buying an additional 89,404 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Sun Communities by 17.5% during the 1st quarter. JPMorgan Chase & Co. now owns 6,317,268 shares of the real estate investment trust’s stock valued at $889,975,000 after acquiring an additional 939,057 shares during the last quarter. State Street Corp lifted its holdings in shares of Sun Communities by 1.5% during the 1st quarter. State Street Corp now owns 5,879,907 shares of the real estate investment trust’s stock worth $833,364,000 after acquiring an additional 85,103 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Sun Communities by 1.9% in the third quarter. Principal Financial Group Inc. now owns 4,523,701 shares of the real estate investment trust’s stock worth $535,331,000 after acquiring an additional 84,767 shares during the last quarter. 94.79% of the stock is owned by institutional investors and hedge funds.

Sun Communities Trading Up 0.3 %

SUI opened at $125.92 on Tuesday. The firm has a market capitalization of $15.67 billion, a P/E ratio of 68.81, a P/E/G ratio of 6.77 and a beta of 0.80. The firm’s 50 day moving average is $130.46 and its 200-day moving average is $123.55. The company has a quick ratio of 2.65, a current ratio of 2.65 and a debt-to-equity ratio of 0.94. Sun Communities, Inc. has a 52-week low of $102.74 and a 52-week high of $159.26.

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were issued a $0.93 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.95%. Sun Communities’s dividend payout ratio is currently 203.28%.

Insider Buying and Selling at Sun Communities

In other news, CEO Baxter Underwood sold 2,000 shares of Sun Communities stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $128.99, for a total transaction of $257,980.00. Following the sale, the chief executive officer now directly owns 66,896 shares of the company’s stock, valued at $8,628,915.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. BMO Capital Markets dropped their price target on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, January 22nd. Evercore ISI lifted their target price on Sun Communities from $128.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, November 27th. Wells Fargo & Company dropped their price target on Sun Communities from $129.00 to $123.00 and set an “equal weight” rating for the company in a research note on Monday, November 13th. Truist Financial lowered Sun Communities from a “buy” rating to a “hold” rating and lifted their price objective for the company from $130.00 to $143.00 in a research note on Tuesday, January 16th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Sun Communities in a research report on Tuesday, January 30th. They set a “hold” rating and a $129.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Sun Communities presently has an average rating of “Hold” and a consensus price target of $141.00.

Read Our Latest Stock Analysis on SUI

Sun Communities 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 September 30, 2023, the Company owned, operated, or had an interest in a portfolio of 670 developed MH, RV and Marina properties comprising approximately 180,170 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.

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Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

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