Asset Management One Co. Ltd. Has $32.42 Million Stock Position in Sun Communities, Inc. (NYSE:SUI)

Asset Management One Co. Ltd. lowered its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 239,920 shares of the real estate investment trust's stock after selling 11,036 shares during the period. Asset Management One Co. Ltd. owned approximately 0.19% of Sun Communities worth $32,420,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cetera Investment Advisers boosted its holdings in Sun Communities by 1.9% during the first quarter. Cetera Investment Advisers now owns 3,453 shares of the real estate investment trust's stock worth $605,000 after buying an additional 64 shares during the last quarter. Vestcor Inc lifted its holdings in shares of Sun Communities by 2.3% during the 4th quarter. Vestcor Inc now owns 2,926 shares of the real estate investment trust's stock valued at $418,000 after purchasing an additional 65 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Sun Communities by 0.3% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 26,611 shares of the real estate investment trust's stock valued at $3,749,000 after purchasing an additional 77 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its holdings in shares of Sun Communities by 9.2% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 927 shares of the real estate investment trust's stock valued at $124,000 after purchasing an additional 78 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its holdings in shares of Sun Communities by 2.6% during the 3rd quarter. Avior Wealth Management LLC now owns 3,727 shares of the real estate investment trust's stock valued at $441,000 after purchasing an additional 96 shares in the last quarter. Institutional investors own 99.59% of the company's stock.

Sun Communities Stock Up 0.0 %

Shares of NYSE:SUI traded up $0.02 during trading on Friday, hitting $122.93. 402,294 shares of the company were exchanged, compared to its average volume of 851,702. The stock has a market cap of $15.32 billion, a price-to-earnings ratio of 107.83, a P/E/G ratio of 7.83 and a beta of 0.80. Sun Communities, Inc. has a fifty-two week low of $102.74 and a fifty-two week high of $143.99. The firm has a fifty day moving average price of $128.74 and a two-hundred day moving average price of $125.04. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.05.

Sun Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be given a dividend of $0.94 per share. This is a positive change from Sun Communities's previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.76 annualized dividend and a dividend yield of 3.06%. Sun Communities's payout ratio is 329.83%.

Wall Street Analysts Forecast Growth

SUI has been the topic of several recent analyst reports. Compass Point lifted their price objective on Sun Communities from $116.00 to $125.00 and gave the company a "neutral" rating in a report on Thursday, March 21st. Truist Financial cut their price objective on Sun Communities from $143.00 to $136.00 and set a "hold" rating on the stock in a report on Monday, March 18th. BMO Capital Markets cut their price objective on Sun Communities from $143.00 to $140.00 and set an "outperform" rating on the stock in a report on Monday, January 22nd. Barclays cut their price objective on Sun Communities from $157.00 to $155.00 and set an "overweight" rating on the stock in a report on Friday, January 26th. Finally, JMP Securities restated a "market outperform" rating and issued a $150.00 target price on shares of Sun Communities in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Sun Communities currently has an average rating of "Hold" and an average target price of $141.17.

Insiders Place Their Bets

In other Sun Communities news, Director Craig Leupold sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $128.39, for a total transaction of $320,975.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Clunet R. Lewis sold 500 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total transaction of $65,565.00. Following the transaction, the director now directly owns 28,400 shares of the company's stock, valued at approximately $3,724,092. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Craig Leupold sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $128.39, for a total value of $320,975.00. The disclosure for this sale can be found here. Insiders have sold 7,000 shares of company stock valued at $912,460 in the last 90 days. 2.06% of the stock is currently owned by insiders.

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.