Tributary Capital Management LLC Sells 100 Shares of Sun Communities, Inc. (NYSE:SUI)

Tributary Capital Management LLC cut its position in shares of Sun Communities, Inc. (NYSE:SUIFree Report) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,785 shares of the real estate investment trust’s stock after selling 100 shares during the quarter. Tributary Capital Management LLC’s holdings in Sun Communities were worth $506,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SUI. Whittier Trust Co. of Nevada Inc. grew its position in Sun Communities by 2.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 82,534 shares of the real estate investment trust’s stock worth $11,030,000 after acquiring an additional 1,935 shares during the last quarter. Whittier Trust Co. grew its position in Sun Communities by 4.0% during the 4th quarter. Whittier Trust Co. now owns 189,536 shares of the real estate investment trust’s stock worth $25,331,000 after acquiring an additional 7,245 shares during the last quarter. Handelsinvest Investeringsforvaltning bought a new position in Sun Communities during the 4th quarter worth approximately $628,000. Raymond James Trust N.A. bought a new position in Sun Communities during the 4th quarter worth approximately $203,000. Finally, Legacy Wealth Asset Management LLC bought a new position in Sun Communities during the 4th quarter worth approximately $304,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SUI. BMO Capital Markets reduced their price target on Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, January 22nd. Barclays cut their price objective on Sun Communities from $157.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. Deutsche Bank Aktiengesellschaft began coverage on Sun Communities in a research report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 price objective on the stock. Evercore ISI lifted their price objective on Sun Communities from $128.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, November 27th. Finally, Compass Point lifted their price objective on Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $141.17.

Get Our Latest Analysis on Sun Communities

Sun Communities Stock Down 2.4 %

Shares of NYSE:SUI opened at $128.59 on Monday. The stock has a fifty day simple moving average of $129.44 and a two-hundred day simple moving average of $124.88. The stock has a market capitalization of $16.00 billion, a price-to-earnings ratio of 112.80, a PEG ratio of 8.20 and a beta of 0.81. Sun Communities, Inc. has a 12-month low of $102.74 and a 12-month high of $143.99. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.05.

Sun Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.76 annualized dividend and a dividend yield of 2.92%. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s payout ratio is currently 326.32%.

Insider Transactions at Sun Communities

In other news, Director Clunet R. Lewis sold 500 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total value of $65,565.00. Following the completion of the transaction, the director now owns 28,400 shares in the company, valued at $3,724,092. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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 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.

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

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