Cwm LLC Has $224,000 Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Cwm LLC lessened its holdings in Sun Communities, Inc. (NYSE:SUI) by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,656 shares of the real estate investment trust’s stock after selling 84 shares during the period. Cwm LLC’s holdings in Sun Communities were worth $224,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. acquired a new position in Sun Communities in the first quarter worth about $26,000. Quest Partners LLC raised its position in Sun Communities by 12,700.0% in 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 in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Sun Communities in the second quarter worth about $62,000. Fidelis Capital Partners LLC acquired a new position in Sun Communities in the first quarter worth about $83,000. Finally, Crewe Advisors LLC acquired a new position in Sun Communities in the first quarter worth about $90,000. Institutional investors and hedge funds 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 firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $131.43, for a total value of $394,290.00. Following the transaction, the chief executive officer now directly owns 63,462 shares of the company’s stock, valued at approximately $8,340,810.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.89% of the company’s stock.

Sun Communities Price Performance

SUI opened at $135.33 on Wednesday. Sun Communities, Inc. has a one year low of $102.74 and a one year high of $147.83. The stock has a market capitalization of $16.87 billion, a P/E ratio of 116.66, a price-to-earnings-growth ratio of 1.00 and a beta of 0.91. 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’s 50 day simple moving average is $135.49 and its 200-day simple moving average is $125.90.

Sun Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.94 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a yield of 2.78%. Sun Communities’s payout ratio is presently 324.14%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SUI shares. Truist Financial raised their price objective on shares of Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Wells Fargo & Company raised their price objective 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. UBS Group raised shares of Sun Communities to a “strong-buy” rating in a report on Thursday, October 10th. Royal Bank of Canada raised their price objective 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, Robert W. Baird raised their price objective 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Sun Communities currently has a consensus rating of “Moderate Buy” and an average price target of $143.91.

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.