Sun Communities, Inc. (NYSE:SUI) Shares Purchased by Creative Planning

Creative Planning raised its holdings in Sun Communities, Inc. (NYSE:SUI) by 56.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,491 shares of the real estate investment trust’s stock after buying an additional 3,439 shares during the period. Creative Planning’s holdings in Sun Communities were worth $1,283,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SUI. Price T Rowe Associates Inc. MD raised its position in shares of Sun Communities by 50.3% during the 1st 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 acquiring an additional 1,105,306 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Sun Communities by 3.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust’s stock worth $354,986,000 after purchasing an additional 111,569 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Sun Communities by 24.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock worth $264,253,000 after buying an additional 424,842 shares during the last quarter. Centersquare Investment Management LLC boosted its holdings in shares of Sun Communities by 4.7% in the 1st quarter. Centersquare Investment Management LLC now owns 2,171,868 shares of the real estate investment trust’s stock valued at $279,259,000 after buying an additional 96,529 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Sun Communities by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,784,547 shares of the real estate investment trust’s stock valued at $214,752,000 after buying an additional 10,592 shares during the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on SUI. Royal Bank of Canada upped their price objective on shares of Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Robert W. Baird raised their price target on Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company boosted their price objective on Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th. Evercore ISI raised their target price on shares of Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Finally, StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.91.

Insider Transactions at Sun Communities

In related news, CEO Baxter Underwood sold 3,000 shares of the company’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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.89% of the company’s stock.

Sun Communities Trading Up 1.2 %

Shares of Sun Communities stock opened at $132.89 on Thursday. The firm has a market cap of $16.57 billion, a price-to-earnings ratio of 114.56, a price-to-earnings-growth ratio of 0.98 and a beta of 0.91. Sun Communities, Inc. has a 52-week low of $108.87 and a 52-week high of $147.83. The company’s 50-day simple moving average is $135.83 and its 200-day simple moving average is $126.32. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.83%. The ex-dividend date was Monday, September 30th. Sun Communities’s payout ratio is 324.14%.

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.