Sun Communities, Inc. (NYSE:SUI) Holdings Lifted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,045,403 shares of the real estate investment trust's stock after purchasing an additional 31,560 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.84% of Sun Communities worth $139,718,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management grew its position in Sun Communities by 102.2% during the third quarter. Spire Wealth Management now owns 465 shares of the real estate investment trust's stock worth $55,000 after buying an additional 235 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Sun Communities during the fourth quarter valued at about $80,000. Tobam boosted its holdings 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 worth $99,000 after purchasing an additional 290 shares in the last quarter. Sugarloaf Wealth Management LLC increased its position 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 purchasing an additional 215 shares during the last quarter. Finally, Buckhead Capital Management LLC purchased a new position in shares of Sun Communities during the fourth quarter worth approximately $200,000. Hedge funds and other institutional investors own 99.59% of the company's stock.

Insiders Place Their Bets

In related news, CEO Baxter Underwood sold 4,000 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Sun Communities news, Director Clunet R. Lewis sold 500 shares of the stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Baxter Underwood sold 4,000 shares of the company's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $131.48, for a total transaction 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. Insiders sold a total of 7,000 shares of company stock worth $912,460 over the last quarter. 1.89% of the stock is currently owned by corporate insiders.

Sun Communities Stock Performance

SUI traded down $0.16 during trading on Friday, hitting $117.50. The company's stock had a trading volume of 623,428 shares, compared to its average volume of 759,422. Sun Communities, Inc. has a one year low of $102.74 and a one year high of $141.52. The business's 50 day simple moving average is $124.02 and its 200-day simple moving average is $125.85. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.08. The firm has a market cap of $14.64 billion, a PE ratio of 101.29, a P/E/G ratio of 1.08 and a beta of 0.83.

Sun Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 3.20%. The ex-dividend date was Wednesday, March 27th. This is a positive change from Sun Communities's previous quarterly dividend of $0.93. Sun Communities's payout ratio is currently 324.14%.

Analyst Ratings Changes

SUI has been the topic of a number of analyst reports. Barclays decreased their target price on shares of Sun Communities from $157.00 to $155.00 and set an "overweight" rating on the stock in a research report on Friday, January 26th. Evercore ISI lowered their price target on shares of Sun Communities from $145.00 to $128.00 and set an "outperform" rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft started coverage on Sun Communities in a report on Tuesday, January 30th. They issued a "hold" rating and a $129.00 price objective for the company. BMO Capital Markets reduced their target price on Sun Communities from $143.00 to $140.00 and set an "outperform" rating on the stock in a research note on Monday, January 22nd. Finally, Royal Bank of Canada reduced their price target on shares of Sun Communities from $142.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $138.92.

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.