Sei Investments Co. Lowers Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Sei Investments Co. lowered its position in shares of Sun Communities, Inc. (NYSE:SUI) by 8.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 614,405 shares of the real estate investment trust’s stock after selling 59,697 shares during the period. Sei Investments Co. owned 0.49% of Sun Communities worth $73,938,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in Sun Communities by 50.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust’s stock worth $424,677,000 after buying an additional 1,105,306 shares in the last quarter. PGGM Investments grew its holdings in shares of Sun Communities by 159.9% during the second quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust’s stock worth $150,033,000 after purchasing an additional 767,126 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Sun Communities by 24.0% in the second quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock worth $264,253,000 after purchasing an additional 424,842 shares during the last quarter. Hsbc Holdings PLC raised its stake in Sun Communities by 199.1% in the second quarter. Hsbc Holdings PLC now owns 358,284 shares of the real estate investment trust’s stock valued at $42,754,000 after purchasing an additional 238,498 shares in the last quarter. Finally, Heitman Real Estate Securities LLC purchased a new stake in Sun Communities in the fourth quarter valued at approximately $17,776,000. Institutional investors own 99.59% of the company’s stock.

Analyst Ratings Changes

SUI has been the topic of a number of research analyst reports. StockNews.com lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Robert W. Baird upped their target price on shares of Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company raised their price target on Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research report on Thursday. Evercore ISI cut Sun Communities from an “outperform” rating to an “inline” rating and upped their price objective for the stock from $144.00 to $149.00 in a report on Monday, September 16th. Finally, Royal Bank of Canada raised their price objective on Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Sun Communities has a consensus rating of “Hold” and a consensus price target of $140.91.

Insider Buying and Selling at Sun Communities

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

Sun Communities Price Performance

Shares of Sun Communities stock opened at $140.68 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42. Sun Communities, Inc. has a one year low of $102.74 and a one year high of $147.83. The business’s 50 day simple moving average is $133.07 and its two-hundred day simple moving average is $125.25. The stock has a market capitalization of $17.54 billion, a P/E ratio of 121.28, a price-to-earnings-growth ratio of 1.07 and a beta of 0.91.

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.94 per share. The ex-dividend date is Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a yield of 2.67%. Sun Communities’s dividend payout ratio is currently 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.