Tokio Marine Asset Management Co. Ltd. Buys 152 Shares of Sun Communities, Inc. (NYSE:SUI)

Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,093 shares of the real estate investment trust’s stock after acquiring an additional 152 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Sun Communities were worth $547,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of 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 valued at $89,975,000 after purchasing an additional 33,795 shares during the last quarter. Strs Ohio boosted its stake in shares of Sun Communities by 8.6% in the 4th quarter. Strs Ohio now owns 301,096 shares of the real estate investment trust’s stock valued at $40,241,000 after purchasing an additional 23,792 shares during the last quarter. abrdn plc raised its position in shares of Sun Communities by 33.8% in the 4th quarter. abrdn plc now owns 76,538 shares of the real estate investment trust’s stock valued at $10,229,000 after acquiring an additional 19,314 shares during the period. Stratos Wealth Partners LTD. raised its position in shares of 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 valued at $219,000 after acquiring an additional 155 shares during the period. Finally, DNB Asset Management AS raised its position in shares of 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 valued at $2,359,000 after acquiring an additional 932 shares during the period. Institutional investors own 99.59% of the company’s stock.

Insiders Place Their Bets

In other Sun Communities news, Director Clunet R. Lewis sold 500 shares of Sun Communities stock in a transaction 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 document filed with the SEC, which is available at the SEC website. In other news, Director Clunet R. Lewis sold 500 shares of Sun Communities stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total transaction of $65,565.00. Following the completion of the sale, the director now owns 28,400 shares of the company’s stock, valued at $3,724,092. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Baxter Underwood sold 4,000 shares of Sun Communities stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $131.48, for a total value of $525,920.00. Following the sale, the chief executive officer now directly owns 66,852 shares of the company’s stock, valued at approximately $8,789,700.96. The disclosure for this sale can be found here. Insiders sold a total of 7,000 shares of company stock valued at $912,460 over the last ninety days. 1.89% of the stock is currently owned by company insiders.

Sun Communities Price Performance

NYSE SUI opened at $119.08 on Friday. Sun Communities, Inc. has a 12-month low of $102.74 and a 12-month high of $141.52. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.05. The firm’s 50 day moving average is $127.11 and its 200-day moving average is $125.26. The company has a market capitalization of $14.84 billion, a PE ratio of 104.46, a price-to-earnings-growth ratio of 1.07 and a beta of 0.80.

Sun Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 3.16%. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. The ex-dividend date was Wednesday, March 27th. Sun Communities’s payout ratio is 329.83%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Sun Communities in a research report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 price target on the stock. BMO Capital Markets dropped 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. Compass Point raised their target price on shares of Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Barclays dropped their target price on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Finally, JMP Securities restated a “market outperform” rating and set a $150.00 target price on shares of Sun Communities in a report on Tuesday, April 23rd. 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.