International Assets Investment Management LLC Has $2.22 Million Stake in Sun Communities, Inc. (NYSE:SUI)

International Assets Investment Management LLC increased its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 10,803.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,573 shares of the real estate investment trust's stock after purchasing an additional 16,421 shares during the period. International Assets Investment Management LLC's holdings in Sun Communities were worth $2,215,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in SUI. Sugarloaf Wealth Management LLC grew its stake in shares of Sun Communities by 9.2% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 927 shares of the real estate investment trust's stock valued at $124,000 after buying an additional 78 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Sun Communities by 1.9% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 6,002 shares of the real estate investment trust's stock valued at $710,000 after purchasing an additional 112 shares during the period. CIBC Asset Management Inc lifted its position in shares of Sun Communities by 3.1% during the third quarter. CIBC Asset Management Inc now owns 4,306 shares of the real estate investment trust's stock worth $510,000 after purchasing an additional 130 shares in the last quarter. Alliance Wealth Advisors LLC UT boosted its stake in shares of Sun Communities by 7.3% in the third quarter. Alliance Wealth Advisors LLC UT now owns 2,005 shares of the real estate investment trust's stock valued at $237,000 after purchasing an additional 137 shares during the period. Finally, Prime Capital Investment Advisors LLC grew its holdings in Sun Communities by 4.9% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 2,944 shares of the real estate investment trust's stock valued at $393,000 after purchasing an additional 138 shares in the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Clunet R. Lewis sold 500 shares of Sun Communities stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total value of $65,565.00. Following the sale, the director now directly owns 28,400 shares in the company, valued at approximately $3,724,092. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Baxter Underwood sold 4,000 shares of the firm'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 value of $525,920.00. Following the sale, the chief executive officer now directly owns 66,852 shares in the company, valued at approximately $8,789,700.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Clunet R. Lewis sold 500 shares of the business's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total value of $65,565.00. Following the transaction, the director now owns 28,400 shares of the company's stock, valued at approximately $3,724,092. The disclosure for this sale can be found here. Insiders have sold 7,000 shares of company stock valued at $912,460 over the last three months. Company insiders own 1.89% of the company's stock.

Sun Communities Stock Performance

NYSE SUI traded down $0.16 during trading hours on Friday, reaching $117.50. The company's stock had a trading volume of 623,428 shares, compared to its average volume of 759,422. The stock has a market cap of $14.64 billion, a PE ratio of 101.29, a PEG ratio of 1.07 and a beta of 0.83. The business has a 50-day simple moving average of $124.02 and a 200 day simple moving average of $126.00. Sun Communities, Inc. has a 52 week low of $102.74 and a 52 week high of $141.52. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.08.

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 given a dividend of $0.94 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.76 dividend on an annualized basis and a yield of 3.20%. This is a positive change from Sun Communities's previous quarterly dividend of $0.93. Sun Communities's payout ratio is currently 324.14%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SUI. Royal Bank of Canada decreased their price objective on shares of Sun Communities from $142.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft assumed coverage on Sun Communities in a report on Tuesday, January 30th. They set a "hold" rating and a $129.00 price objective on the stock. Compass Point raised their price target on shares of Sun Communities from $116.00 to $125.00 and gave the stock a "neutral" rating in a research report on Thursday, March 21st. Evercore ISI cut their price target on shares of Sun Communities from $145.00 to $128.00 and set an "outperform" rating on the stock in a report on Wednesday, May 1st. Finally, BMO Capital Markets decreased their price objective on shares of Sun Communities from $143.00 to $140.00 and set an "outperform" rating for the company in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $138.92.

Sun Communities 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.