Strs Ohio Buys 23,792 Shares of Sun Communities, Inc. (NYSE:SUI)

Strs Ohio boosted its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 301,096 shares of the real estate investment trust's stock after buying an additional 23,792 shares during the quarter. Strs Ohio owned approximately 0.24% of Sun Communities worth $40,241,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SUI. Lindbrook Capital LLC grew its position in shares of Sun Communities by 120.2% in the third quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 125 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Sun Communities in the second quarter valued at about $27,000. Spire Wealth Management increased its position in Sun Communities by 102.2% during the third quarter. Spire Wealth Management now owns 465 shares of the real estate investment trust's stock worth $55,000 after acquiring an additional 235 shares during the period. Tobam raised its stake in Sun Communities by 64.0% in the 4th quarter. Tobam now owns 743 shares of the real estate investment trust's stock worth $99,000 after purchasing an additional 290 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC boosted its holdings in Sun Communities by 33.9% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 849 shares of the real estate investment trust's stock valued at $100,000 after purchasing an additional 215 shares during the period. Institutional investors own 99.59% of the company's stock.

Sun Communities Trading Down 0.2 %

NYSE SUI traded down $0.26 during mid-day trading on Monday, reaching $120.42. 506,139 shares of the stock were exchanged, compared to its average volume of 824,882. The stock has a market cap of $15.01 billion, a P/E ratio of 105.63, a P/E/G ratio of 7.72 and a beta of 0.80. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.66 and a quick ratio of 1.66. Sun Communities, Inc. has a one year low of $102.74 and a one year high of $141.52. The stock has a 50 day simple moving average of $128.44 and a 200-day simple moving average of $125.14.

Sun Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be given a $0.94 dividend. The ex-dividend date is Wednesday, March 27th. This is a positive change from Sun Communities's previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a dividend yield of 3.12%. Sun Communities's dividend payout ratio (DPR) is 329.82%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SUI. Barclays cut their price target on Sun Communities from $157.00 to $155.00 and set an "overweight" rating for the company in a research note on Friday, January 26th. BMO Capital Markets reduced their price target on shares of Sun Communities from $143.00 to $140.00 and set an "outperform" rating on the stock in a research report on Monday, January 22nd. Truist Financial reduced their target price on Sun Communities from $143.00 to $136.00 and set a "hold" rating on the stock in a report on Monday, March 18th. JMP Securities reissued a "market outperform" rating and issued a $150.00 price objective on shares of Sun Communities in a research note on Wednesday, March 20th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Sun Communities in a report on Tuesday, January 30th. They set a "hold" rating and a $129.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $141.17.

Insider Activity at Sun Communities

In other news, Director Clunet R. Lewis sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total transaction of $65,565.00. Following the completion of the sale, the director now owns 28,400 shares of the company's stock, valued at approximately $3,724,092. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Baxter Underwood sold 4,000 shares of the company's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $131.48, for a total transaction of $525,920.00. Following the transaction, the chief executive officer now directly owns 66,852 shares of the company's stock, valued at approximately $8,789,700.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Clunet R. Lewis sold 500 shares of the company'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 value of $65,565.00. Following the transaction, the director now directly owns 28,400 shares in the company, valued at $3,724,092. The disclosure for this sale can be found here. Insiders have sold a total of 7,000 shares of company stock worth $912,460 in the last 90 days. Corporate insiders own 2.06% of the company's stock.

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.