Sun Communities, Inc. (NYSE:SUI) Holdings Reduced by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC reduced its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 467,506 shares of the real estate investment trust's stock after selling 26,268 shares during the period. Sun Communities accounts for about 1.6% of Anchor Capital Advisors LLC's investment portfolio, making the stock its 16th largest position. Anchor Capital Advisors LLC owned about 0.38% of Sun Communities worth $62,482,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lindbrook Capital LLC raised its stake in shares of Sun Communities by 120.2% in the 3rd quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 125 shares during the period. Spire Wealth Management increased its holdings in shares of Sun Communities by 102.2% in the 3rd 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. GAMMA Investing LLC bought a new stake in shares of Sun Communities during the fourth quarter valued at approximately $80,000. Tobam boosted its position in Sun Communities by 64.0% during 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 period. Finally, Sugarloaf Wealth Management LLC lifted its holdings in Sun Communities by 33.9% in the third quarter. Sugarloaf Wealth Management LLC now owns 849 shares of the real estate investment trust's stock worth $100,000 after purchasing an additional 215 shares during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Price Performance

Shares of NYSE:SUI traded up $1.14 during trading on Monday, reaching $120.22. 888,759 shares of the company traded hands, compared to its average volume of 792,017. Sun Communities, Inc. has a 52 week low of $102.74 and a 52 week high of $141.52. The company's 50 day moving average is $126.91 and its two-hundred day moving average is $125.47. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $14.98 billion, a PE ratio of 105.46, a PEG ratio of 1.07 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. Investors of record on Friday, March 29th were paid a $0.94 dividend. This is an increase from Sun Communities's previous quarterly dividend of $0.93. The ex-dividend date was Wednesday, March 27th. This represents a $3.76 annualized dividend and a yield of 3.13%. Sun Communities's dividend payout ratio is presently 329.82%.

Insider Activity

In related news, CEO Baxter Underwood sold 4,000 shares of Sun Communities stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 66,852 shares of the company's stock, valued at $8,789,700.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Craig Leupold sold 2,500 shares of the stock in a transaction dated 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 accessible through the SEC website. Also, CEO Baxter Underwood sold 4,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 66,852 shares of the company's stock, valued at approximately $8,789,700.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,000 shares of company stock valued at $912,460. 1.89% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on SUI. Truist Financial decreased their target price on Sun Communities from $143.00 to $136.00 and set a "hold" rating for the company in a research note on Monday, March 18th. Deutsche Bank Aktiengesellschaft began 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. Barclays cut their price objective on Sun Communities from $157.00 to $155.00 and set an "overweight" rating on the stock in a research note on Friday, January 26th. 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 report on Monday, January 22nd. Finally, JMP Securities reissued a "market outperform" rating and issued a $150.00 price objective on shares of Sun Communities in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $141.17.

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.