Vontobel Holding Ltd. Sells 188 Shares of Sun Communities, Inc. (NYSE:SUI)

Vontobel Holding Ltd. lessened its position in Sun Communities, Inc. (NYSE:SUI) by 6.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,875 shares of the real estate investment trust’s stock after selling 188 shares during the period. Vontobel Holding Ltd.’s holdings in Sun Communities were worth $384,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Sun Communities by 5.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 673,215 shares of the real estate investment trust’s stock worth $89,975,000 after acquiring an additional 33,795 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in Sun Communities by 9.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,846 shares of the real estate investment trust’s stock worth $219,000 after acquiring an additional 155 shares during the last quarter. DNB Asset Management AS grew its holdings in Sun Communities by 5.6% in the 4th quarter. DNB Asset Management AS now owns 17,647 shares of the real estate investment trust’s stock worth $2,359,000 after acquiring an additional 932 shares during the last quarter. Arizona State Retirement System grew its holdings in Sun Communities by 0.7% in the 4th quarter. Arizona State Retirement System now owns 34,195 shares of the real estate investment trust’s stock worth $4,570,000 after acquiring an additional 253 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Sun Communities by 27.8% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 118,845 shares of the real estate investment trust’s stock valued at $15,886,000 after purchasing an additional 25,850 shares in the last quarter. Institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Up 1.5 %

Shares of Sun Communities stock opened at $120.08 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a market capitalization of $14.97 billion, a PE ratio of 105.33, a price-to-earnings-growth ratio of 7.57 and a beta of 0.80. Sun Communities, Inc. has a 52-week low of $102.74 and a 52-week high of $141.52. The company has a 50-day simple moving average of $127.64 and a two-hundred day simple moving average of $125.24.

Sun Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a yield of 3.13%. Sun Communities’s payout ratio is 329.83%.

Insiders Place Their Bets

In other Sun Communities news, Director Craig Leupold sold 2,500 shares of Sun Communities stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $128.39, for a total value of $320,975.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Clunet R. Lewis sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total transaction of $65,565.00. Following the completion of the transaction, the director now directly owns 28,400 shares of the company’s stock, valued at $3,724,092. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig Leupold sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total transaction of $320,975.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,000 shares of company stock valued at $912,460. Insiders own 1.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SUI shares. 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. Compass Point lifted their target price on shares of Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. 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. Deutsche Bank Aktiengesellschaft started 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Sun Communities has a consensus rating of “Hold” and a consensus price target of $141.17.

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.