Insider Selling: Sun Communities, Inc. (NYSE:SUI) CEO Sells $525,920.00 in Stock

Sun Communities, Inc. (NYSE:SUI) CEO Baxter Underwood sold 4,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $131.48, for a total transaction of $525,920.00. Following the completion of the sale, the chief executive officer now directly owns 66,852 shares in the company, valued at approximately $8,789,700.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Sun Communities Trading Up 0.9 %

Shares of NYSE SUI opened at $126.31 on Thursday. Sun Communities, Inc. has a 1 year low of $102.74 and a 1 year high of $143.99. The stock has a market cap of $15.71 billion, a P/E ratio of 110.80, a price-to-earnings-growth ratio of 8.02 and a beta of 0.81. The firm has a 50-day moving average of $129.01 and a 200 day moving average of $124.99. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.66 and a quick ratio of 1.66.

Sun Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be given a dividend of $0.94 per share. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. This represents a $3.76 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Wednesday, March 27th. Sun Communities’s dividend payout ratio (DPR) is 326.32%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SUI. JMP Securities reissued a “market outperform” rating and issued a $150.00 price target on shares of Sun Communities in a report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Sun Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $129.00 target price on the stock. Barclays cut their target price on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. BMO Capital Markets cut their target price on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, January 22nd. Finally, Truist Financial cut their target price on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a research note on Monday, March 18th. One research 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 presently has an average rating of “Hold” and an average target price of $141.17.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. MetLife Investment Management LLC purchased a new position in Sun Communities in the first quarter worth about $401,000. Yousif Capital Management LLC raised its holdings in Sun Communities by 12.2% in the first quarter. Yousif Capital Management LLC now owns 6,798 shares of the real estate investment trust’s stock worth $1,192,000 after buying an additional 739 shares during the last quarter. Raymond James Trust N.A. raised its holdings in Sun Communities by 21.1% in the first quarter. Raymond James Trust N.A. now owns 1,190 shares of the real estate investment trust’s stock worth $208,000 after buying an additional 207 shares during the last quarter. Prudential PLC purchased a new position in Sun Communities in the first quarter worth about $385,000. Finally, Cetera Investment Advisers raised its holdings in Sun Communities by 1.9% in the first quarter. Cetera Investment Advisers now owns 3,453 shares of the real estate investment trust’s stock worth $605,000 after buying an additional 64 shares during the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Company Profile

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.