DekaBank Deutsche Girozentrale Raises Stock Position in Sun Communities, Inc. (NYSE:SUI)

DekaBank Deutsche Girozentrale grew its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 27.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 118,845 shares of the real estate investment trust's stock after acquiring an additional 25,850 shares during the period. DekaBank Deutsche Girozentrale owned about 0.10% of Sun Communities worth $15,886,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Stratos Wealth Partners LTD. boosted its holdings in Sun Communities by 9.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,846 shares of the real estate investment trust's stock worth $219,000 after buying an additional 155 shares during the period. DNB Asset Management AS boosted its holdings in Sun Communities by 5.6% in the 4th quarter. DNB Asset Management AS now owns 17,647 shares of the real estate investment trust's stock valued at $2,359,000 after purchasing an additional 932 shares during the period. Schonfeld Strategic Advisors LLC grew its position in shares of Sun Communities by 2,782.0% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 227,595 shares of the real estate investment trust's stock valued at $26,934,000 after purchasing an additional 219,698 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Sun Communities by 50.8% during the 3rd quarter. Schroder Investment Management Group now owns 562,238 shares of the real estate investment trust's stock valued at $66,535,000 after purchasing an additional 189,510 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Sun Communities by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,013,843 shares of the real estate investment trust's stock valued at $119,978,000 after purchasing an additional 8,200 shares in the last quarter. 99.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

SUI has been the subject of a number of recent analyst reports. Compass Point boosted their price target on shares of Sun Communities from $116.00 to $125.00 and gave the company a "neutral" rating in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Sun Communities in a research report on Tuesday, January 30th. They set a "hold" rating and a $129.00 price target for the company. Barclays reduced their price target on shares of Sun Communities from $157.00 to $155.00 and set an "overweight" rating for the company in a research report on Friday, January 26th. JMP Securities restated a "market outperform" rating and set a $150.00 price target on shares of Sun Communities in a research report on Wednesday, March 20th. Finally, Truist Financial dropped their price objective on shares of Sun Communities from $143.00 to $136.00 and set a "hold" rating for the company in a report on Monday, March 18th. One investment 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, the stock presently has an average rating of "Hold" and a consensus price target of $141.17.

Sun Communities Trading Up 1.7 %

Sun Communities stock traded up $2.12 during mid-day trading on Tuesday, hitting $128.20. The company's stock had a trading volume of 563,974 shares, compared to its average volume of 843,517. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market cap of $15.98 billion, a price-to-earnings ratio of 110.60, a price-to-earnings-growth ratio of 7.84 and a beta of 0.80. The business has a 50 day moving average price of $128.72 and a 200-day moving average price of $125.05. Sun Communities, Inc. has a 12 month low of $102.74 and a 12 month high of $143.99.

Sun Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from Sun Communities's previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a yield of 2.93%. Sun Communities's payout ratio is currently 329.83%.

Insiders Place Their Bets

In other Sun Communities news, Director Craig Leupold sold 2,500 shares of the business's stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total value of $320,975.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Sun Communities news, CEO Baxter Underwood sold 4,000 shares of the business's stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $131.48, for a total value of $525,920.00. Following the transaction, the chief executive officer now owns 66,852 shares in the company, valued at $8,789,700.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Craig Leupold sold 2,500 shares of the business's stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $128.39, for a total transaction of $320,975.00. The disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock valued at $912,460 over the last three months. Insiders own 2.06% of the company's stock.

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.