Van ECK Associates Corp Purchases 1,507 Shares of Sun Communities, Inc. (NYSE:SUI)

Van ECK Associates Corp boosted its stake in Sun Communities, Inc. (NYSE:SUIFree Report) by 3.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 44,485 shares of the real estate investment trust’s stock after buying an additional 1,507 shares during the quarter. Van ECK Associates Corp’s holdings in Sun Communities were worth $5,264,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. MetLife Investment Management LLC bought a new position in shares of Sun Communities during the first quarter valued at approximately $401,000. Yousif Capital Management LLC increased its stake in shares of Sun Communities by 12.2% during the first quarter. Yousif Capital Management LLC now owns 6,798 shares of the real estate investment trust’s stock valued at $1,192,000 after purchasing an additional 739 shares in the last quarter. Raymond James Trust N.A. increased its stake in shares of Sun Communities by 21.1% during the first quarter. Raymond James Trust N.A. now owns 1,190 shares of the real estate investment trust’s stock valued at $208,000 after purchasing an additional 207 shares in the last quarter. Prudential PLC bought a new position in shares of Sun Communities during the first quarter valued at approximately $385,000. Finally, Cetera Investment Advisers increased its stake in shares of Sun Communities by 1.9% during the first quarter. Cetera Investment Advisers now owns 3,453 shares of the real estate investment trust’s stock valued at $605,000 after purchasing an additional 64 shares in the last quarter. 94.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SUI. Compass Point decreased their target price on shares of Sun Communities from $125.00 to $116.00 and set a “neutral” rating for the company in a research note on Friday, October 27th. BMO Capital Markets decreased their target price on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, January 22nd. Evercore ISI raised their price target on shares of Sun Communities from $128.00 to $132.00 and gave the company an “outperform” rating in a research report on Monday, November 27th. 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 price target for the company. Finally, Wells Fargo & Company reduced their price target on shares of Sun Communities from $129.00 to $123.00 and set an “equal weight” rating for the company in a research report on Monday, November 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $141.00.

View Our Latest Report on Sun Communities

Insider Buying and Selling

In other news, CEO Baxter Underwood sold 2,000 shares of Sun Communities stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $128.99, for a total transaction of $257,980.00. Following the transaction, the chief executive officer now owns 66,896 shares in the company, valued at approximately $8,628,915.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.06% of the stock is currently owned by corporate insiders.

Sun Communities Trading Up 0.5 %

Shares of SUI stock opened at $125.50 on Monday. Sun Communities, Inc. has a 12-month low of $102.74 and a 12-month high of $159.26. The company has a current ratio of 2.65, a quick ratio of 2.65 and a debt-to-equity ratio of 0.94. The firm’s 50 day moving average is $130.60 and its 200 day moving average is $123.59. The stock has a market capitalization of $15.62 billion, a P/E ratio of 68.58, a P/E/G ratio of 6.77 and a beta of 0.80.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.96%. The ex-dividend date was Thursday, December 28th. Sun Communities’s dividend payout ratio is currently 203.28%.

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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