9,000 Shares in Sun Communities, Inc. (NYSE:SUI) Purchased by MBB Public Markets I LLC

MBB Public Markets I LLC acquired a new position in shares of Sun Communities, Inc. (NYSE:SUI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,000 shares of the real estate investment trust’s stock, valued at approximately $1,083,000.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wells Fargo & Company increased their target price on shares of Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a report on Thursday, September 19th. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Robert W. Baird increased 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. Royal Bank of Canada increased their target price on shares of Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Evercore ISI cut shares of Sun Communities from an “outperform” rating to an “inline” rating and increased their target price for the stock from $144.00 to $149.00 in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $140.91.

Sun Communities Stock Performance

Sun Communities stock opened at $135.15 on Tuesday. The business has a 50 day moving average of $134.35 and a 200-day moving average of $125.38. Sun Communities, Inc. has a 1 year low of $102.74 and a 1 year high of $147.83. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market capitalization of $16.84 billion, a P/E ratio of 116.51, a P/E/G ratio of 1.02 and a beta of 0.91.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Monday, September 30th. Sun Communities’s dividend payout ratio is presently 324.14%.

Insider Buying and Selling at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 63,462 shares of the company’s stock, valued at approximately $8,340,810.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.