1,654 Shares in Sun Communities, Inc. (NYSE:SUI) Purchased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC acquired a new stake in shares of Sun Communities, Inc. (NYSE:SUI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,654 shares of the real estate investment trust’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SUI. Norges Bank purchased a new stake in shares of Sun Communities during the fourth quarter valued at approximately $576,397,000. JPMorgan Chase & Co. raised its stake in shares of Sun Communities by 18.8% in the third quarter. JPMorgan Chase & Co. now owns 6,567,246 shares of the real estate investment trust’s stock worth $777,168,000 after purchasing an additional 1,040,076 shares during the last quarter. Resolution Capital Ltd bought a new position in shares of Sun Communities during the third quarter valued at $104,406,000. Russell Investments Group Ltd. boosted its position in shares of Sun Communities by 75.3% during the fourth 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 buying an additional 570,329 shares during the last quarter. Finally, Rush Island Management LP purchased a new stake in shares of Sun Communities during the third quarter valued at $65,134,000. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Price Performance

NYSE SUI opened at $117.52 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.08. Sun Communities, Inc. has a 12 month low of $102.74 and a 12 month high of $141.52. The stock has a market cap of $14.65 billion, a price-to-earnings ratio of 101.31, a PEG ratio of 1.02 and a beta of 0.87. The company’s 50 day moving average is $117.64 and its two-hundred day moving average is $125.52.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Friday, June 28th. Sun Communities’s dividend payout ratio (DPR) is 324.14%.

Insider Buying and Selling

In other Sun Communities news, Director Craig Leupold sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $128.39, for a total transaction of $320,975.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SUI. Evercore ISI dropped their price target on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Truist Financial cut their target price on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a research report on Monday, March 18th. Compass Point raised their price target on Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. 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. Finally, Royal Bank of Canada lowered their target price on Sun Communities from $142.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sun Communities presently has a consensus rating of “Hold” and a consensus target price of $136.27.

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.