APG Asset Management US Inc. Has $53.92 Million Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

APG Asset Management US Inc. boosted its stake in Sun Communities, Inc. (NYSE:SUI) by 5.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 453,979 shares of the real estate investment trust’s stock after purchasing an additional 25,000 shares during the quarter. APG Asset Management US Inc. owned about 0.36% of Sun Communities worth $53,915,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Farmers & Merchants Investments Inc. acquired a new stake in Sun Communities in the first quarter worth $26,000. V Square Quantitative Management LLC acquired a new stake in Sun Communities in the fourth quarter worth $32,000. Quest Partners LLC acquired a new stake in Sun Communities in the fourth quarter worth $51,000. 1620 Investment Advisors Inc. acquired a new stake in Sun Communities in the second quarter worth $62,000. Finally, Fidelis Capital Partners LLC bought a new position in shares of Sun Communities in the first quarter valued at $83,000. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SUI. Robert W. Baird raised their price objective on shares of Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. StockNews.com lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. 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 note on Thursday, September 19th. Evercore ISI lowered shares of Sun Communities from an “outperform” rating to an “inline” rating and raised their price target for the company from $144.00 to $149.00 in a research report on Monday, September 16th. Finally, Truist Financial raised their price target on shares of Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $140.91.

Sun Communities Stock Performance

Shares of SUI stock opened at $137.41 on Thursday. The firm has a market cap of $17.13 billion, a price-to-earnings ratio of 118.46, a P/E/G ratio of 1.03 and a beta of 0.91. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.42 and a current ratio of 1.42. Sun Communities, Inc. has a 52 week low of $102.74 and a 52 week high of $147.83. The firm’s 50-day simple moving average is $133.80 and its two-hundred day simple moving average is $125.39.

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 given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Monday, September 30th. Sun Communities’s dividend payout ratio is 324.14%.

Insiders Place Their Bets

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of Sun Communities stock in a transaction dated Monday, August 5th. The shares were 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 $8,340,810.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.