Aew Capital Management L P Sells 133,498 Shares of Sun Communities, Inc. (NYSE:SUI)

Aew Capital Management L P lessened its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 16.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 658,089 shares of the real estate investment trust's stock after selling 133,498 shares during the period. Sun Communities makes up about 3.2% of Aew Capital Management L P's holdings, making the stock its 11th biggest position. Aew Capital Management L P owned 0.53% of Sun Communities worth $87,954,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SUI. AE Wealth Management LLC increased its holdings in Sun Communities by 8.9% during the 3rd quarter. AE Wealth Management LLC now owns 3,171 shares of the real estate investment trust's stock worth $375,000 after acquiring an additional 259 shares during the period. SG Americas Securities LLC increased its holdings in shares of Sun Communities by 19.5% in the 3rd quarter. SG Americas Securities LLC now owns 10,361 shares of the real estate investment trust's stock worth $1,226,000 after buying an additional 1,691 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of Sun Communities by 2.6% in the 3rd quarter. Avior Wealth Management LLC now owns 3,727 shares of the real estate investment trust's stock worth $441,000 after buying an additional 96 shares during the last quarter. Presima Securities ULC increased its holdings in shares of Sun Communities by 21.0% in the 3rd quarter. Presima Securities ULC now owns 163,500 shares of the real estate investment trust's stock worth $19,349,000 after buying an additional 28,400 shares during the last quarter. Finally, Manning & Napier Group LLC increased its holdings in shares of Sun Communities by 7.5% in the 3rd quarter. Manning & Napier Group LLC now owns 110,031 shares of the real estate investment trust's stock worth $13,021,000 after buying an additional 7,641 shares during the last quarter. Institutional investors own 99.59% of the company's stock.

Sun Communities Trading Up 0.1 %

NYSE SUI traded up $0.16 during trading on Friday, hitting $119.08. The company had a trading volume of 394,563 shares, compared to its average volume of 791,803. 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 one year low of $102.74 and a one year high of $141.52. The company has a market cap of $14.84 billion, a price-to-earnings ratio of 104.46, a price-to-earnings-growth ratio of 1.08 and a beta of 0.80. The company's fifty day moving average is $127.11 and its 200-day moving average is $125.17.

Sun Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a $0.94 dividend. The ex-dividend date of this dividend was 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 yield of 3.16%. Sun Communities's dividend payout ratio is 329.83%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JMP Securities reissued a "market outperform" rating and issued a $150.00 price target on shares of Sun Communities in a report on Tuesday. Barclays decreased their price target 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. BMO Capital Markets decreased their price target on shares of Sun Communities from $143.00 to $140.00 and set an "outperform" rating on the stock in a report on Monday, January 22nd. Truist Financial cut 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. Finally, Compass Point upped their price objective 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. 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. Based on data from MarketBeat, Sun Communities presently has a consensus rating of "Hold" and a consensus target price of $141.17.

Insiders Place Their Bets

In other Sun Communities 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 completion of the transaction, the chief executive officer now directly owns 66,852 shares in the company, valued at approximately $8,789,700.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Baxter Underwood sold 4,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 66,852 shares in the company, valued at approximately $8,789,700.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Craig Leupold sold 2,500 shares of the stock in a transaction dated Thursday, March 28th. The stock was 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. In the last ninety days, insiders sold 7,000 shares of company stock worth $912,460. 1.89% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding SUI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Communities, Inc. (NYSE:SUI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.