Public Employees Retirement Association of Colorado Has $1.52 Million Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Public Employees Retirement Association of Colorado decreased its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,598 shares of the real estate investment trust’s stock after selling 568 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Sun Communities were worth $1,516,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Intech Investment Management LLC grew its stake in Sun Communities by 30.5% during the 2nd quarter. Intech Investment Management LLC now owns 8,819 shares of the real estate investment trust’s stock valued at $1,061,000 after acquiring an additional 2,062 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Sun Communities during the second quarter worth approximately $345,000. Hsbc Holdings PLC grew its position in Sun Communities by 199.1% during 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. Elo Mutual Pension Insurance Co increased its stake in Sun Communities by 8.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 12,339 shares of the real estate investment trust’s stock valued at $1,485,000 after buying an additional 968 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Sun Communities by 1.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,034 shares of the real estate investment trust’s stock worth $846,000 after buying an additional 115 shares in the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Sun Communities Stock Performance

NYSE:SUI opened at $140.26 on Tuesday. The firm has a market capitalization of $17.48 billion, a PE ratio of 120.91, a PEG ratio of 1.07 and a beta of 0.91. Sun Communities, Inc. has a 1 year low of $102.74 and a 1 year high of $147.83. 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 fifty day simple moving average is $133.38 and its 200 day simple moving average is $125.26.

Sun Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.94 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.68%. Sun Communities’s payout ratio is presently 324.14%.

Wall Street Analyst Weigh In

Several research firms have recently commented on SUI. Robert W. Baird boosted their price target on shares of Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. 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 report on Thursday, September 19th. Evercore ISI lowered Sun Communities from an “outperform” rating to an “inline” rating and lifted their price target for the company from $144.00 to $149.00 in a report on Monday, September 16th. Finally, Royal Bank of Canada increased their price objective on 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. Based on data from MarketBeat.com, Sun Communities has an average rating of “Hold” and an average price target 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.