Handelsbanken Fonder AB Has $4.48 Million Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Handelsbanken Fonder AB boosted its stake in Sun Communities, Inc. (NYSE:SUI) by 12.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 33,116 shares of the real estate investment trust’s stock after buying an additional 3,600 shares during the period. Handelsbanken Fonder AB’s holdings in Sun Communities were worth $4,476,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. bought a new position in Sun Communities during the first quarter worth about $26,000. V Square Quantitative Management LLC acquired a new stake in Sun Communities during the fourth quarter worth approximately $32,000. Quest Partners LLC increased its stake in Sun Communities by 12,700.0% during the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 381 shares during the period. 1620 Investment Advisors Inc. acquired a new position in Sun Communities in the second quarter valued at about $62,000. Finally, Fidelis Capital Partners LLC acquired a new position in Sun Communities in the first quarter valued at about $83,000. 99.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on SUI. Robert W. Baird raised their target price 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. 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, September 19th. Royal Bank of Canada boosted their price target on Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Truist Financial raised their price objective on Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Finally, StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $142.20.

Sun Communities Stock Down 2.0 %

Shares of SUI opened at $125.08 on Wednesday. The company has a market capitalization of $15.59 billion, a PE ratio of 107.83, a PEG ratio of 0.97 and a beta of 0.91. The stock’s 50-day moving average price is $135.09 and its two-hundred day moving average price is $125.39. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. Sun Communities, Inc. has a 12 month low of $102.74 and a 12 month high of $147.83.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Monday, September 30th. Sun Communities’s payout ratio is presently 324.14%.

Insider Buying and Selling at Sun Communities

In other news, CEO Baxter Underwood sold 3,000 shares of the business’s stock in a transaction that occurred on 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 approximately $8,340,810.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.89% of the company’s stock.

Sun Communities 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.