Centaurus Financial Inc. Has $170,000 Holdings in Sun Communities, Inc. (NYSE:SUI)

Centaurus Financial Inc. raised its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 12.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,274 shares of the real estate investment trust’s stock after purchasing an additional 145 shares during the quarter. Centaurus Financial Inc.’s holdings in Sun Communities were worth $170,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SUI. Norges Bank acquired a new stake in Sun Communities during the 4th quarter valued at $576,397,000. JPMorgan Chase & Co. lifted its holdings in Sun Communities by 18.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,567,246 shares of the real estate investment trust’s stock valued at $777,168,000 after purchasing an additional 1,040,076 shares during the last quarter. Resolution Capital Ltd acquired a new stake in Sun Communities during the 3rd quarter valued at $104,406,000. Russell Investments Group Ltd. lifted its holdings in Sun Communities by 75.3% during the 4th quarter. Russell Investments Group Ltd. now owns 1,327,781 shares of the real estate investment trust’s stock valued at $177,638,000 after purchasing an additional 570,329 shares during the last quarter. Finally, Rush Island Management LP acquired a new stake in Sun Communities during the 3rd quarter valued at $65,134,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Insider Buying and Selling at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 4,000 shares of Sun Communities stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $131.48, for a total value of $525,920.00. Following the transaction, the chief executive officer now owns 66,852 shares in the company, valued at $8,789,700.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Sun Communities news, Director Craig Leupold sold 2,500 shares of Sun Communities stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $128.39, for a total value of $320,975.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Baxter Underwood sold 4,000 shares of Sun Communities stock in a transaction dated Friday, March 22nd. The shares were 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 in the company, valued at $8,789,700.96. The disclosure for this sale can be found here. Company insiders own 1.89% of the company’s stock.

Wall Street Analyst Weigh In

SUI has been the topic of several recent research reports. Compass Point increased their price objective on Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Royal Bank of Canada lowered their price objective on Sun Communities from $142.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Evercore ISI lowered their price objective on Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Truist Financial lowered their price objective on 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, JMP Securities reiterated a “market outperform” rating and set a $150.00 price objective on shares of Sun Communities in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $136.27.

Sun Communities Stock Up 0.1 %

Shares of NYSE SUI opened at $116.03 on Wednesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.78 and a current ratio of 1.78. Sun Communities, Inc. has a 52 week low of $102.74 and a 52 week high of $141.52. The stock has a market capitalization of $14.46 billion, a P/E ratio of 100.03, a PEG ratio of 1.03 and a beta of 0.87. The stock’s fifty day moving average is $118.00 and its 200 day moving average is $125.81.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Friday, June 28th. Sun Communities’s dividend payout ratio is presently 324.14%.

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.