Creative Planning Sells 293 Shares of Sun Communities, Inc. (NYSE:SUI)

Creative Planning decreased its position in Sun Communities, Inc. (NYSE:SUI) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,052 shares of the real estate investment trust’s stock after selling 293 shares during the quarter. Creative Planning’s holdings in Sun Communities were worth $728,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in SUI. Farmers & Merchants Investments Inc. acquired a new stake in Sun Communities in the 1st quarter worth approximately $26,000. V Square Quantitative Management LLC acquired a new stake in Sun Communities in the 4th quarter worth approximately $32,000. Quest Partners LLC lifted its holdings in Sun Communities by 12,700.0% in the 2nd 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 last quarter. 1620 Investment Advisors Inc. acquired a new stake in Sun Communities in the 2nd quarter worth approximately $62,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Sun Communities in the 1st quarter worth approximately $83,000. Institutional investors own 99.59% of the company’s stock.

Insider Buying and Selling at Sun Communities

In other Sun Communities 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 value of $394,290.00. Following the sale, the chief executive officer now directly owns 63,462 shares in the company, 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 hyperlink. Company insiders own 1.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SUI shares. StockNews.com upgraded Sun Communities from a “sell” rating to a “hold” rating in a report on Thursday. Wells Fargo & Company boosted their target price on Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a report on Thursday, September 19th. Truist Financial upped their price target on Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Evercore ISI lowered Sun Communities from an “outperform” rating to an “inline” rating and upped their price target for the stock from $144.00 to $149.00 in a report on Monday, September 16th. Finally, UBS Group upgraded Sun Communities to a “strong-buy” rating in a report on Thursday. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.20.

Sun Communities Stock Performance

Shares of NYSE SUI opened at $129.80 on Friday. The business has a fifty day simple moving average of $134.84 and a 200 day simple moving average of $125.43. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $16.18 billion, a price-to-earnings ratio of 150.93, a PEG ratio of 0.93 and a beta of 0.91. Sun Communities, Inc. has a one year low of $102.74 and a one year high of $147.83.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.90%. Sun Communities’s payout ratio is 437.21%.

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.