Van ECK Associates Corp Sells 242 Shares of Sun Communities, Inc. (NYSE:SUI)

Van ECK Associates Corp decreased its holdings in Sun Communities, Inc. (NYSE:SUI) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,662 shares of the real estate investment trust’s stock after selling 242 shares during the period. Van ECK Associates Corp’s holdings in Sun Communities were worth $6,968,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in SUI. Assetmark Inc. increased its stake in Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Sun Communities in the third quarter valued at $41,000. CKW Financial Group grew its holdings in Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 135 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Sun Communities during the third quarter worth $60,000. Finally, Farther Finance Advisors LLC grew its position in shares of Sun Communities by 89.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after acquiring an additional 236 shares during the period. 99.59% of the stock is owned by institutional investors.

Sun Communities Trading Down 1.2 %

Shares of SUI opened at $125.11 on Tuesday. The stock has a market cap of $15.94 billion, a PE ratio of 67.27 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. The stock’s 50-day moving average is $124.27 and its two-hundred day moving average is $129.67.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a yield of 3.01%. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Baird R W lowered shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Royal Bank of Canada cut their price target on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Truist Financial upgraded Sun Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Finally, Robert W. Baird lowered shares of Sun Communities from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $145.00 to $126.00 in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $134.55.

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.