Gamco Investors INC. ET AL Cuts Holdings in Sun Communities, Inc. (NYSE:SUI)

Gamco Investors INC. ET AL trimmed its holdings in Sun Communities, Inc. (NYSE:SUIFree Report) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,100 shares of the real estate investment trust’s stock after selling 500 shares during the period. Gamco Investors INC. ET AL’s holdings in Sun Communities were worth $2,024,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Lindbrook Capital LLC grew its stake in Sun Communities by 120.2% during the third quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 125 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Sun Communities in the 2nd quarter valued at $27,000. Spire Wealth Management raised its position in Sun Communities by 102.2% in the third quarter. Spire Wealth Management now owns 465 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 235 shares during the period. Covestor Ltd boosted its position in shares of Sun Communities by 25.8% in the second quarter. Covestor Ltd now owns 503 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 103 shares during the period. Finally, First Manhattan CO. LLC. grew its stake in shares of Sun Communities by 12.7% in the first quarter. First Manhattan CO. LLC. now owns 890 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 94.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Truist Financial cut shares of Sun Communities from a “buy” rating to a “hold” rating and boosted their target price for the stock from $130.00 to $143.00 in a research report on Tuesday, January 16th. Barclays reduced their price target on Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, January 26th. Compass Point dropped their price objective on Sun Communities from $125.00 to $116.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. Wells Fargo & Company reduced their target price 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. Finally, 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 note on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $141.00.

Get Our Latest Research Report on SUI

Sun Communities Trading Up 0.5 %

NYSE SUI opened at $125.52 on Friday. The firm has a market capitalization of $15.62 billion, a PE ratio of 68.59, a price-to-earnings-growth ratio of 6.74 and a beta of 0.80. Sun Communities, Inc. has a one year low of $102.74 and a one year high of $159.26. The company has a 50-day simple moving average of $130.60 and a 200-day simple moving average of $123.82. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.65 and a current ratio of 2.65.

Sun Communities Announces Dividend

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

Insider Transactions at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 2,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $128.99, for a total value of $257,980.00. Following the sale, the chief executive officer now directly owns 66,896 shares in the company, valued at $8,628,915.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.06% of the company’s stock.

About Sun Communities

(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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