Sun Communities, Inc. (NYSE:SUI) Shares Acquired by Choreo LLC

Choreo LLC raised its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 20.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,766 shares of the real estate investment trust’s stock after acquiring an additional 804 shares during the period. Choreo LLC’s holdings in Sun Communities were worth $641,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lindbrook Capital LLC lifted its stake in Sun Communities by 120.2% during the 3rd quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 125 shares during the period. Spire Wealth Management lifted its stake in Sun Communities by 102.2% during the 3rd quarter. Spire Wealth Management now owns 465 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 235 shares during the period. GAMMA Investing LLC acquired a new position in shares of Sun Communities in the 4th quarter valued at $80,000. Tobam lifted its stake in shares of Sun Communities by 64.0% in the 4th quarter. Tobam now owns 743 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 290 shares during the period. Finally, Sugarloaf Wealth Management LLC lifted its stake in shares of Sun Communities by 33.9% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 849 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 215 shares during the period. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sun Communities

In related news, Director Clunet R. Lewis sold 500 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sun Communities news, Director Clunet R. Lewis sold 500 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total value of $65,565.00. Following the transaction, the director now 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 is available at this link. Also, Director Craig Leupold sold 2,500 shares of the company’s stock in a transaction dated 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 quarter, insiders sold 7,000 shares of company stock valued at $912,460. 1.89% of the stock is owned by company insiders.

Sun Communities Trading Up 1.3 %

Shares of SUI opened at $112.74 on Thursday. 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, Inc. has a 12-month low of $102.74 and a 12-month high of $141.52. The firm has a 50-day moving average price of $126.11 and a 200 day moving average price of $125.43. The firm has a market capitalization of $14.05 billion, a P/E ratio of 97.19, a P/E/G ratio of 1.00 and a beta of 0.83.

Sun Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.94 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.34%. This is a positive change from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s dividend payout ratio is currently 324.14%.

Analyst Ratings Changes

Several research firms recently issued reports on SUI. Evercore ISI decreased their target price on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday. BMO Capital Markets decreased their target price on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, January 22nd. Royal Bank of Canada cut their price target on shares of Sun Communities from $142.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on shares of Sun Communities in a report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 price target for the company. Finally, Barclays cut their price target 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $138.92.

Sun Communities 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.