Sun Communities, Inc. (NYSE:SUI) is Duff & Phelps Investment Management Co.'s 9th Largest Position

Duff & Phelps Investment Management Co. raised its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 2.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,168,528 shares of the real estate investment trust's stock after acquiring an additional 26,170 shares during the quarter. Sun Communities makes up approximately 1.9% of Duff & Phelps Investment Management Co.'s holdings, making the stock its 9th biggest position. Duff & Phelps Investment Management Co. owned approximately 0.94% of Sun Communities worth $156,174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lindbrook Capital LLC raised its holdings in Sun Communities by 120.2% during the third quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 125 shares in the last quarter. Spire Wealth Management raised its stake in shares of Sun Communities by 102.2% during the 3rd quarter. Spire Wealth Management now owns 465 shares of the real estate investment trust's stock worth $55,000 after purchasing an additional 235 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Sun Communities in the 4th quarter valued at approximately $80,000. Tobam grew its stake in shares of Sun Communities by 64.0% in the fourth quarter. Tobam now owns 743 shares of the real estate investment trust's stock valued at $99,000 after buying an additional 290 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC grew its stake in shares of 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 valued at $100,000 after buying an additional 215 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Sun Communities news, Director Craig Leupold sold 2,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total transaction of $320,975.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Baxter Underwood sold 4,000 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now 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 can be accessed through the SEC website. 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. Over the last three months, insiders have sold 7,000 shares of company stock valued at $912,460. 1.89% of the stock is owned by company insiders.

Sun Communities Stock Performance

NYSE SUI traded down $8.99 on Tuesday, reaching $111.32. The stock had a trading volume of 2,073,638 shares, compared to its average volume of 808,414. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.66 and a quick ratio of 1.66. The company has a market cap of $13.87 billion, a P/E ratio of 98.73, a price-to-earnings-growth ratio of 1.07 and a beta of 0.80. The firm has a fifty day moving average of $126.91 and a two-hundred day moving average of $125.47. Sun Communities, Inc. has a 1-year low of $102.74 and a 1-year high of $141.52.

Sun Communities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.94 dividend. The ex-dividend date was Wednesday, March 27th. 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 3.38%. Sun Communities's dividend payout ratio is 329.83%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SUI shares. BMO Capital Markets cut their price target 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. Truist Financial reduced their price target on Sun Communities from $143.00 to $136.00 and set a "hold" rating for the company in a report on Monday, March 18th. JMP Securities reissued a "market outperform" rating and set a $150.00 price target on shares of Sun Communities in a research report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft started coverage on Sun Communities in a research report on Tuesday, January 30th. They issued a "hold" rating and a $129.00 price objective for the company. Finally, Compass Point increased their price target on Sun Communities from $116.00 to $125.00 and gave the company a "neutral" rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus 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.