Sun Communities, Inc. (NYSE:SUI) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 389,060 shares of the real estate investment trust's stock after selling 11,100 shares during the quarter. Swiss National Bank owned approximately 0.31% of Sun Communities worth $51,998,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SUI. Lindbrook Capital LLC boosted its position in shares of Sun Communities by 120.2% during the 3rd quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 125 shares in the last quarter. Spire Wealth Management boosted its holdings in Sun Communities by 102.2% in the third quarter. Spire Wealth Management now owns 465 shares of the real estate investment trust's stock valued at $55,000 after acquiring an additional 235 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Sun Communities in the 4th quarter valued at about $80,000. Tobam lifted its stake 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 valued at $99,000 after purchasing an additional 290 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC raised its holdings in shares of Sun Communities by 33.9% during the 3rd 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 during the period. Hedge funds and other institutional investors own 99.59% of the company's stock.

Analyst Ratings Changes

SUI has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Sun Communities in a research note on Tuesday, January 30th. They issued a "hold" rating and a $129.00 price target for the company. JMP Securities reissued a "market outperform" rating and set a $150.00 target price on shares of Sun Communities in a report on Thursday, May 2nd. Truist Financial reduced 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 report on Monday, March 18th. Barclays decreased their target price on Sun Communities from $157.00 to $155.00 and set an "overweight" rating on the stock in a report on Friday, January 26th. Finally, BMO Capital Markets lowered their price objective on shares of Sun Communities from $143.00 to $140.00 and set an "outperform" rating on the stock in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Sun Communities presently has a consensus rating of "Hold" and a consensus price target of $138.92.

Insider Transactions at Sun Communities

In other news, Director Craig Leupold sold 2,500 shares of the company's 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 through this hyperlink. In related 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 value of $320,975.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Clunet R. Lewis sold 500 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 28,400 shares in the company, valued at $3,724,092. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,000 shares of company stock worth $912,460. Corporate insiders own 1.89% of the company's stock.

Sun Communities Price Performance

Sun Communities stock traded up $0.79 during trading hours on Tuesday, hitting $116.45. 710,101 shares of the stock were exchanged, compared to its average volume of 819,760. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a market capitalization of $14.51 billion, a P/E ratio of 100.39, a P/E/G ratio of 1.05 and a beta of 0.83. Sun Communities, Inc. has a 12 month low of $102.74 and a 12 month high of $141.52. The business's 50-day moving average is $124.94 and its two-hundred day moving average is $125.88.

Sun Communities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.23%. This is a positive change from Sun Communities's previous quarterly dividend of $0.93. The ex-dividend date was Wednesday, March 27th. Sun Communities's dividend payout ratio is presently 324.14%.

About Sun Communities

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.