Sun Communities, Inc. (NYSE:SUI) Position Boosted by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. raised its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 15.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 762 shares of the real estate investment trust’s stock after acquiring an additional 102 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Sun Communities were worth $92,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com raised Sun Communities from a “sell” rating to a “hold” rating in a research note on Thursday. Truist Financial raised their target price on Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. 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 research report on Friday, August 2nd. Wells Fargo & Company raised their price objective on shares of Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. Finally, Robert W. Baird boosted their target price on shares of Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Sun Communities presently has an average rating of “Moderate Buy” and an average target price of $142.20.

Insiders Place Their Bets

In other news, CEO Baxter Underwood sold 3,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $131.43, for a total transaction of $394,290.00. Following the transaction, the chief executive officer now directly owns 63,462 shares in the company, valued at $8,340,810.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.89% of the company’s stock.

Sun Communities Stock Up 0.7 %

Shares of Sun Communities stock opened at $129.78 on Friday. 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 1 year low of $102.74 and a 1 year high of $147.83. The stock has a 50-day moving average price of $134.96 and a 200 day moving average price of $125.40. The company has a market cap of $16.18 billion, a P/E ratio of 150.90, a P/E/G ratio of 0.93 and a beta of 0.91.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders 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 annualized dividend and a yield of 2.90%. Sun Communities’s dividend payout ratio is presently 437.21%.

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.