Sun Communities, Inc. (NYSE:SUI) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 673,215 shares of the real estate investment trust's stock after purchasing an additional 33,795 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.54% of Sun Communities worth $89,975,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Lindbrook Capital LLC grew its holdings in Sun Communities by 120.2% during the 3rd 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 in the last quarter. Eagle Bay Advisors LLC acquired a new position in Sun Communities during the second quarter worth about $27,000. Spire Wealth Management boosted its holdings 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 buying an additional 235 shares in the last quarter. Tobam grew its holdings in shares of 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 acquiring an additional 290 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC lifted its stake in Sun Communities by 33.9% during the third quarter. Sugarloaf Wealth Management LLC now owns 849 shares of the real estate investment trust's stock valued at $100,000 after buying an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company's stock.

Insider Transactions at Sun Communities

In related news, Director Clunet R. Lewis sold 500 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total value of $65,565.00. Following the sale, the director now owns 28,400 shares in the company, valued at approximately $3,724,092. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Craig Leupold sold 2,500 shares of the firm's stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total transaction of $320,975.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction, the director now directly owns 28,400 shares in the company, valued at approximately $3,724,092. 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. 1.89% of the stock is currently owned by corporate insiders.

Sun Communities Price Performance

SUI traded down $0.35 on Thursday, reaching $117.95. The stock had a trading volume of 545,105 shares, compared to its average volume of 810,348. 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 fifty-two week low of $102.74 and a fifty-two week high of $141.52. The firm has a 50-day moving average of $128.05 and a 200-day moving average of $125.04. The company has a market capitalization of $14.70 billion, a price-to-earnings ratio of 103.47, a price-to-earnings-growth ratio of 7.58 and a beta of 0.80.

Sun Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.94 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.76 annualized dividend and a dividend yield of 3.19%. This is a positive change from Sun Communities's previous quarterly dividend of $0.93. Sun Communities's payout ratio is currently 329.83%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SUI shares. Compass Point increased their target price on shares of Sun Communities from $116.00 to $125.00 and gave the stock a "neutral" rating in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft started coverage on shares of Sun Communities in a research report on Tuesday, January 30th. They set a "hold" rating and a $129.00 target price on the stock. BMO Capital Markets cut their target price on shares of Sun Communities from $143.00 to $140.00 and set an "outperform" rating for the company in a research note on Monday, January 22nd. Barclays decreased their price objective on shares of 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 reaffirmed 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 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 stock. According to data from MarketBeat, Sun Communities has an average rating of "Hold" and a consensus target price of $141.17.

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.