Daiwa Securities Group Inc. Boosts Holdings in Sun Communities, Inc. (NYSE:SUI)

Daiwa Securities Group Inc. grew its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,597,775 shares of the real estate investment trust's stock after purchasing an additional 31,831 shares during the quarter. Sun Communities makes up 2.2% of Daiwa Securities Group Inc.'s portfolio, making the stock its 12th biggest position. Daiwa Securities Group Inc. owned 2.09% of Sun Communities worth $347,193,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Strs Ohio raised its stake in shares of Sun Communities by 8.6% during the 4th quarter. Strs Ohio now owns 301,096 shares of the real estate investment trust's stock worth $40,241,000 after acquiring an additional 23,792 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in shares of Sun Communities by 9.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,846 shares of the real estate investment trust's stock worth $219,000 after acquiring an additional 155 shares in the last quarter. DNB Asset Management AS raised its stake in shares of Sun Communities by 5.6% during the 4th quarter. DNB Asset Management AS now owns 17,647 shares of the real estate investment trust's stock worth $2,359,000 after acquiring an additional 932 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Sun Communities by 27.8% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 118,845 shares of the real estate investment trust's stock worth $15,886,000 after acquiring an additional 25,850 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Sun Communities by 0.7% during the 4th quarter. Arizona State Retirement System now owns 34,195 shares of the real estate investment trust's stock worth $4,570,000 after acquiring an additional 253 shares in the last quarter. Institutional investors own 99.59% of the company's stock.

Insider Activity

In other news, CEO Baxter Underwood sold 4,000 shares of the company's stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total value of $525,920.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Clunet R. Lewis sold 500 shares of the stock in a transaction 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 sale, the director now directly owns 28,400 shares of the company's stock, valued at $3,724,092. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Baxter Underwood sold 4,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 66,852 shares in the company, valued at $8,789,700.96. 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 ninety days. Insiders own 1.89% of the company's stock.

Analysts Set New Price Targets

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

Sun Communities Stock Performance

Shares of SUI stock traded down $0.09 during trading hours on Wednesday, hitting $118.38. The company's stock had a trading volume of 440,471 shares, compared to its average volume of 813,933. The company has a 50 day moving average of $128.19 and a 200 day moving average of $125.09. The stock has a market cap of $14.75 billion, a PE ratio of 103.84, a price-to-earnings-growth ratio of 7.71 and a beta of 0.80. 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, Inc. has a 12-month low of $102.74 and a 12-month high of $141.52.

Sun Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.94 dividend. This is an increase from Sun Communities's previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Wednesday, March 27th. Sun Communities's dividend payout ratio is 329.83%.

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.