Sun Communities, Inc. (NYSE:SUI) Stock Holdings Lifted by Keybank National Association OH

Keybank National Association OH increased its stake in shares of Sun Communities, Inc. (NYSE:SUIFree Report) by 11.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,732 shares of the real estate investment trust’s stock after acquiring an additional 384 shares during the quarter. Keybank National Association OH’s holdings in Sun Communities were worth $442,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SUI. Cohen & Steers Inc. increased its position in Sun Communities by 40.8% during the second quarter. Cohen & Steers Inc. now owns 12,664,321 shares of the real estate investment trust’s stock worth $1,652,024,000 after acquiring an additional 3,668,076 shares during the period. Norges Bank bought a new position in Sun Communities during the fourth quarter worth $315,323,000. JPMorgan Chase & Co. increased its position in Sun Communities by 17.5% during the first quarter. JPMorgan Chase & Co. now owns 6,317,268 shares of the real estate investment trust’s stock worth $889,975,000 after acquiring an additional 939,057 shares during the period. Invesco Ltd. increased its position in Sun Communities by 72.4% during the first quarter. Invesco Ltd. now owns 1,916,668 shares of the real estate investment trust’s stock worth $335,973,000 after acquiring an additional 805,125 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in Sun Communities by 45.6% during the second quarter. Daiwa Securities Group Inc. now owns 2,456,346 shares of the real estate investment trust’s stock worth $320,455,000 after acquiring an additional 769,749 shares during the period. Institutional investors own 94.79% of the company’s stock.

Sun Communities Stock Down 0.4 %

Shares of NYSE SUI opened at $124.47 on Thursday. The firm’s 50-day simple moving average is $130.83 and its 200 day simple moving average is $123.92. The company has a market cap of $15.49 billion, a price-to-earnings ratio of 68.02, a price-to-earnings-growth ratio of 6.74 and a beta of 0.80. 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 12-month low of $102.74 and a 12-month high of $162.45.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $3.72 annualized dividend and a yield of 2.99%. Sun Communities’s dividend payout ratio (DPR) is 203.28%.

Insider Buying and Selling

In related news, CEO Baxter Underwood sold 2,000 shares of the company’s stock in a transaction dated 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 SEC, which can be accessed through this link. 2.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SUI has been the topic of several analyst reports. JMP Securities reissued a “market outperform” rating and issued a $150.00 price target on shares of Sun Communities in a report on Wednesday, December 20th. Compass Point lowered their price target on shares of Sun Communities from $125.00 to $116.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. Evercore ISI boosted their price target on shares of Sun Communities from $128.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, November 27th. Truist Financial lowered shares of Sun Communities from a “buy” rating to a “hold” rating and boosted their price target for the company from $130.00 to $143.00 in a report on Tuesday, January 16th. Finally, BMO Capital Markets lowered their target price on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $141.00.

Get Our Latest Report on Sun Communities

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 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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