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Sun Communities, Inc. (NYSE:SUI) Shares Bought by Charles Schwab Investment Management Inc.

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Charles Schwab Investment Management Inc. increased its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,140,855 shares of the real estate investment trust's stock after purchasing an additional 17,415 shares during the period. Charles Schwab Investment Management Inc. owned 0.89% of Sun Communities worth $146,760,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Sun Communities by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 17,947,285 shares of the real estate investment trust's stock worth $2,308,739,000 after buying an additional 403,923 shares during the last quarter. Cohen & Steers Inc. raised its position in Sun Communities by 30.3% during the 4th quarter. Cohen & Steers Inc. now owns 16,373,446 shares of the real estate investment trust's stock worth $2,013,414,000 after buying an additional 3,811,528 shares during the last quarter. Dodge & Cox raised its position in Sun Communities by 61.1% during the 4th quarter. Dodge & Cox now owns 9,606,018 shares of the real estate investment trust's stock worth $1,181,252,000 after buying an additional 3,644,853 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Sun Communities by 19.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,549,540 shares of the real estate investment trust's stock worth $682,429,000 after buying an additional 911,857 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Sun Communities by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,829,816 shares of the real estate investment trust's stock worth $225,012,000 after buying an additional 49,404 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company's stock.

Insider Buying and Selling

In other news, Director Jeff Blau purchased 3,665 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were bought at an average cost of $117.99 per share, with a total value of $432,433.35. Following the purchase, the director directly owned 3,665 shares of the company's stock, valued at approximately $432,433.35. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.77% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on SUI. JMP Securities restated a "market outperform" rating and set a $140.00 price objective on shares of Sun Communities in a research report on Tuesday, May 20th. Barclays began coverage on shares of Sun Communities in a research report on Thursday, May 29th. They set an "overweight" rating and a $141.00 price objective for the company. Truist Financial upped their price objective on shares of Sun Communities from $137.00 to $141.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Morgan Stanley assumed coverage on shares of Sun Communities in a research report on Tuesday, July 15th. They set an "equal weight" rating and a $135.00 price objective for the company. Finally, Bank of America increased their price target on shares of Sun Communities from $124.00 to $132.00 and gave the company an "underperform" rating in a report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Sun Communities currently has a consensus rating of "Hold" and an average price target of $138.43.

View Our Latest Analysis on Sun Communities

Sun Communities Price Performance

NYSE SUI traded down $0.96 during trading hours on Thursday, reaching $127.04. The company's stock had a trading volume of 604,787 shares, compared to its average volume of 878,673. The stock has a market cap of $15.90 billion, a PE ratio of 12.43, a PEG ratio of 6.50 and a beta of 0.83. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $147.83. The company's 50-day moving average is $125.35 and its two-hundred day moving average is $125.77. The company has a debt-to-equity ratio of 0.55, a quick ratio of 7.08 and a current ratio of 7.08.

Sun Communities (NYSE:SUI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, beating analysts' consensus estimates of $1.67 by $0.09. The firm had revenue of $623.50 million for the quarter, compared to analysts' expectations of $614.79 million. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. During the same period in the prior year, the company earned $1.86 EPS. Analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, June 30th. This is a positive change from Sun Communities's previous quarterly dividend of $0.94. Sun Communities's dividend payout ratio is currently 40.70%.

Sun Communities Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

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