Sun Communities, Inc. (NYSE:SUI) Shares Bought by Blue Trust Inc.

Blue Trust Inc. raised its position in shares of Sun Communities, Inc. (NYSE:SUI) by 230.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 625 shares of the real estate investment trust’s stock after acquiring an additional 436 shares during the quarter. Blue Trust Inc.’s holdings in Sun Communities were worth $84,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farmers & Merchants Investments Inc. acquired a new position in Sun Communities in the 1st quarter valued at $26,000. Quest Partners LLC lifted its stake in shares of 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 buying an additional 381 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Sun Communities in the second quarter worth about $62,000. Fidelis Capital Partners LLC acquired a new position in Sun Communities during the first quarter worth about $83,000. Finally, Crewe Advisors LLC purchased a new stake in Sun Communities during the 1st quarter valued at about $90,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Price Performance

Shares of SUI opened at $131.25 on Wednesday. The firm has a 50-day simple moving average of $135.82 and a two-hundred day simple moving average of $126.27. The stock has a market cap of $16.36 billion, a PE ratio of 113.15, a P/E/G ratio of 0.98 and a beta of 0.91. Sun Communities, Inc. has a 1-year low of $107.31 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.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.94 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.86%. Sun Communities’s dividend payout ratio (DPR) is presently 324.14%.

Insider Buying and Selling at Sun Communities

In other news, CEO Baxter Underwood sold 3,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $131.43, for a total transaction of $394,290.00. Following the completion of the transaction, the chief executive officer now directly owns 63,462 shares in the company, valued at $8,340,810.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.89% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. UBS Group raised shares of Sun Communities to a “strong-buy” rating in a research note on Thursday, October 10th. Evercore ISI boosted their price objective on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Royal Bank of Canada raised their target price on Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Finally, 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 research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sun Communities presently has an average rating of “Moderate Buy” and a consensus price target of $143.91.

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.