Federated Hermes Inc. Has $1.38 Million Position in Sun Communities, Inc. (NYSE:SUI)

Federated Hermes Inc. raised its stake in Sun Communities, Inc. (NYSE:SUI) by 17.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,304 shares of the real estate investment trust’s stock after buying an additional 1,513 shares during the quarter. Federated Hermes Inc.’s holdings in Sun Communities were worth $1,377,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Sun Communities by 5.3% in the fourth 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. Strs Ohio increased its position in Sun Communities by 8.6% in the 4th quarter. Strs Ohio now owns 301,096 shares of the real estate investment trust’s stock worth $40,241,000 after purchasing an additional 23,792 shares during the last quarter. Stratos Wealth Partners LTD. increased its position 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 purchasing an additional 155 shares during the last quarter. DNB Asset Management AS raised its stake in shares of Sun Communities by 5.6% during 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 purchasing an additional 932 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Sun Communities by 0.7% during the 4th quarter. Arizona State Retirement System now owns 34,195 shares of the real estate investment trust’s stock valued at $4,570,000 after buying an additional 253 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Trading Up 1.0 %

Shares of Sun Communities stock opened at $120.22 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a market capitalization of $14.98 billion, a PE ratio of 105.46, a price-to-earnings-growth ratio of 1.07 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’s fifty day moving average price is $126.91 and its two-hundred day moving average price is $125.47.

Sun Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 3.13%. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Wednesday, March 27th. Sun Communities’s dividend payout ratio is currently 329.82%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SUI. Deutsche Bank Aktiengesellschaft started coverage on shares of Sun Communities in a research report on Tuesday, January 30th. They set a “hold” rating and a $129.00 price objective on the stock. BMO Capital Markets cut their price target 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. Barclays decreased their price objective on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, January 26th. Truist Financial lowered 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 report on Monday, March 18th. Finally, Compass Point boosted their price target on Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Sun Communities currently has a consensus rating of “Hold” and an average price target of $141.17.

Insider Transactions at Sun Communities

In related news, Director Craig Leupold sold 2,500 shares of the firm’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 value of $320,975.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Craig Leupold sold 2,500 shares of the firm’s 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 document filed with the SEC, which is available at the SEC website. Also, Director Clunet R. Lewis sold 500 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 28,400 shares of the company’s stock, valued at $3,724,092. The disclosure for this sale can be found here. Insiders have sold 7,000 shares of company stock valued at $912,460 in the last three months. 1.89% of the stock is owned by corporate insiders.

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.