Nisa Investment Advisors LLC Sells 2,814 Shares of Sun Communities, Inc. (NYSE:SUI)

Nisa Investment Advisors LLC lessened its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 9.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,495 shares of the real estate investment trust's stock after selling 2,814 shares during the period. Nisa Investment Advisors LLC's holdings in Sun Communities were worth $3,696,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SUI. Utah Retirement Systems increased its position in Sun Communities by 0.5% during the 4th quarter. Utah Retirement Systems now owns 20,503 shares of the real estate investment trust's stock worth $2,521,000 after purchasing an additional 100 shares in the last quarter. Cascade Investment Advisors Inc. increased its position in Sun Communities by 1.0% during the 1st quarter. Cascade Investment Advisors Inc. now owns 10,473 shares of the real estate investment trust's stock worth $1,347,000 after purchasing an additional 100 shares in the last quarter. Bessemer Group Inc. increased its position in Sun Communities by 11.6% in the 1st quarter. Bessemer Group Inc. now owns 1,153 shares of the real estate investment trust's stock valued at $149,000 after acquiring an additional 120 shares during the period. Quadrant Capital Group LLC increased its position in Sun Communities by 17.2% in the 4th quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock valued at $103,000 after acquiring an additional 123 shares during the period. Finally, Captrust Financial Advisors increased its position in Sun Communities by 3.7% in the 4th quarter. Captrust Financial Advisors now owns 3,627 shares of the real estate investment trust's stock valued at $446,000 after acquiring an additional 128 shares during the period. Institutional investors own 99.59% of the company's stock.

Insider Buying and Selling at Sun Communities

In other Sun Communities news, Director Jeff Blau acquired 3,665 shares of the company's stock in a transaction on Friday, May 23rd. The shares were purchased at an average cost of $117.99 per share, with a total value of $432,433.35. Following the completion of the purchase, the director owned 3,665 shares of the company's stock, valued at approximately $432,433.35. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.77% of the company's stock.

Wall Street Analysts Forecast Growth

SUI has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft set a $135.00 price target on shares of Sun Communities and gave the company a "hold" rating in a research report on Wednesday, June 25th. Colliers Securities initiated coverage on shares of Sun Communities in a research report on Friday, June 13th. They issued a "neutral" rating and a $130.00 price target for the company. Truist Financial set a $137.00 price target on shares of Sun Communities and gave the company a "buy" rating in a research report on Tuesday, June 3rd. Jefferies Financial Group initiated coverage on shares of Sun Communities in a research report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target for the company. Finally, Wall Street Zen cut shares of Sun Communities from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $138.08.

Sun Communities Stock Down 0.3%

NYSE SUI traded down $0.36 on Friday, hitting $125.60. 1,450,955 shares of the company were exchanged, compared to its average volume of 864,774. The company has a market cap of $16.03 billion, a PE ratio of 202.58, a PEG ratio of 8.56 and a beta of 0.86. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month high of $147.83. The stock has a fifty day moving average of $124.91 and a 200-day moving average of $125.74. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 1.01.

Sun Communities (NYSE:SUI - Get Free Report) last issued its earnings results on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.08. The business had revenue of $470.20 million for the quarter, compared to analyst estimates of $538.63 million. Sun Communities had a net margin of 2.85% and a return on equity of 1.41%. Sun Communities's revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.19 earnings per share. As a group, analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.31%. This is a positive change from Sun Communities's previous quarterly dividend of $0.94. The ex-dividend date is Monday, June 30th. Sun Communities's dividend payout ratio (DPR) is 670.97%.

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.