Tredje AP fonden Decreases Stake in Sun Communities, Inc. (NYSE:SUI)

Tredje AP fonden lessened its position in shares of Sun Communities, Inc. (NYSE:SUI) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,707 shares of the real estate investment trust’s stock after selling 306 shares during the quarter. Tredje AP fonden’s holdings in Sun Communities were worth $2,372,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. purchased a new position in Sun Communities during the first quarter valued at approximately $26,000. V Square Quantitative Management LLC purchased a new position in shares of Sun Communities during the 4th quarter valued at approximately $32,000. Quest Partners LLC boosted its holdings in Sun Communities by 12,700.0% during the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 381 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Sun Communities during the second quarter valued at $62,000. Finally, Fidelis Capital Partners LLC purchased a new position in Sun Communities in the first quarter valued at $83,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Insider Activity at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $131.43, for a total transaction of $394,290.00. Following the transaction, the chief executive officer now owns 63,462 shares of the company’s stock, valued at $8,340,810.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.89% of the company’s stock.

Sun Communities Stock Performance

SUI opened at $144.63 on Friday. Sun Communities, Inc. has a twelve month low of $102.74 and a twelve month high of $147.83. The firm has a market capitalization of $18.03 billion, a PE ratio of 124.68, a PEG ratio of 1.07 and a beta of 0.91. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. The firm’s 50-day moving average price is $132.73 and its 200 day moving average price is $125.23.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.94 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.60%. Sun Communities’s dividend payout ratio (DPR) is presently 324.14%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Evercore ISI lowered shares of Sun Communities from an “outperform” rating to an “inline” rating and increased their target price for the stock from $144.00 to $149.00 in a research note on Monday. Robert W. Baird raised their price objective on Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Wells Fargo & Company upped their target price on Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Thursday. Truist Financial increased their target price on Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada boosted their price target on shares of Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $140.91.

About Sun Communities

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.