LRT Capital Management LLC Lowers Stake in Sun Communities, Inc. (NYSE:SUI)

LRT Capital Management LLC cut its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 54.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,577 shares of the real estate investment trust's stock after selling 14,747 shares during the quarter. Sun Communities comprises approximately 1.6% of LRT Capital Management LLC's holdings, making the stock its 24th largest holding. LRT Capital Management LLC's holdings in Sun Communities were worth $1,681,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cetera Investment Advisers boosted its position in shares of 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 valued at $605,000 after buying an additional 64 shares during the period. Vestcor Inc lifted its position in shares of Sun Communities by 2.3% during the fourth quarter. Vestcor Inc now owns 2,926 shares of the real estate investment trust's stock worth $418,000 after purchasing an additional 65 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in shares of Sun Communities by 0.3% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 26,611 shares of the real estate investment trust's stock worth $3,749,000 after purchasing an additional 77 shares during the last quarter. Sugarloaf Wealth Management LLC lifted its position in shares of Sun Communities by 9.2% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 927 shares of the real estate investment trust's stock worth $124,000 after purchasing an additional 78 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of Sun Communities by 2.6% during the third quarter. Avior Wealth Management LLC now owns 3,727 shares of the real estate investment trust's stock worth $441,000 after purchasing an additional 96 shares during the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SUI. Truist Financial reduced their target price on shares of Sun Communities from $143.00 to $136.00 and set a "hold" rating on the stock in a research report on Monday, March 18th. JMP Securities reaffirmed a "market outperform" rating and set a $150.00 target price on shares of Sun Communities in a research report on Wednesday, March 20th. Compass Point increased their price target on Sun Communities from $116.00 to $125.00 and gave the stock a "neutral" rating in a research report on Thursday, March 21st. BMO Capital Markets dropped their price target on Sun Communities from $143.00 to $140.00 and set an "outperform" rating on the stock in a research report on Monday, January 22nd. Finally, Barclays dropped their price target on Sun Communities from $157.00 to $155.00 and set an "overweight" rating on the stock in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Sun Communities has a consensus rating of "Hold" and an average price target of $141.17.

Sun Communities Stock Down 0.2 %

Shares of Sun Communities stock traded down $0.27 on Friday, reaching $117.69. The stock had a trading volume of 659,976 shares, compared to its average volume of 540,115. The company has a 50 day moving average price of $127.89 and a 200 day moving average price of $125.20. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.05. Sun Communities, Inc. has a 1 year low of $102.74 and a 1 year high of $141.52. The stock has a market capitalization of $14.67 billion, a P/E ratio of 103.24, a P/E/G ratio of 7.53 and a beta of 0.80.

Sun Communities Increases Dividend

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

Insider Transactions at Sun Communities

In other news, CEO Baxter Underwood sold 4,000 shares of the firm's stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $131.48, for a total value of $525,920.00. Following the completion of the sale, the chief executive officer now 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 the SEC website. In other news, CEO Baxter Underwood sold 4,000 shares of the firm's stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $131.48, for a total value of $525,920.00. Following the completion of the sale, the chief executive officer now 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 the SEC website. Also, Director Craig Leupold sold 2,500 shares of the firm's stock in a transaction 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 a total of 7,000 shares of company stock valued at $912,460 in the last 90 days. Insiders own 1.89% 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.