Sun Communities, Inc. (NYSE:SUI) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its holdings in Sun Communities, Inc. (NYSE:SUI) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,597,775 shares of the real estate investment trust’s stock after acquiring an additional 31,831 shares during the period. Sun Communities accounts for about 2.2% of Daiwa Securities Group Inc.’s portfolio, making the stock its 12th largest holding. Daiwa Securities Group Inc. owned approximately 2.09% of Sun Communities worth $347,193,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. MetLife Investment Management LLC purchased a new stake in Sun Communities in the first quarter valued at approximately $401,000. Yousif Capital Management LLC raised its position in Sun Communities by 12.2% in the first quarter. Yousif Capital Management LLC now owns 6,798 shares of the real estate investment trust’s stock valued at $1,192,000 after purchasing an additional 739 shares during the period. Raymond James Trust N.A. raised its position in Sun Communities by 21.1% in the first quarter. Raymond James Trust N.A. now owns 1,190 shares of the real estate investment trust’s stock valued at $208,000 after purchasing an additional 207 shares during the period. Prudential PLC purchased a new stake in Sun Communities in the first quarter valued at approximately $385,000. Finally, Cetera Investment Advisers raised its position in Sun Communities by 1.9% in the first quarter. Cetera Investment Advisers now owns 3,453 shares of the real estate investment trust’s stock valued at $605,000 after purchasing an additional 64 shares during the period. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sun Communities

In other Sun Communities news, Director Clunet R. Lewis sold 500 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total value 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sun Communities news, CEO Baxter Underwood sold 4,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 66,852 shares in the company, valued at $8,789,700.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Clunet R. Lewis sold 500 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total transaction of $65,565.00. Following the sale, 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 sold 7,000 shares of company stock worth $912,460 over the last 90 days. Corporate insiders own 1.89% of the company’s stock.

Analysts Set New Price Targets

SUI has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Sun Communities in a research report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 target price on the stock. Compass Point boosted their target price on Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. Truist Financial cut their price objective on Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a research report on Monday, March 18th. 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 report on Friday, January 26th. Finally, BMO Capital Markets cut their price objective on 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 research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Sun Communities currently has a consensus rating of “Hold” and a consensus price target of $141.17.

Sun Communities Stock Down 0.1 %

NYSE:SUI traded down $0.09 during trading hours on Wednesday, hitting $118.38. The company’s stock had a trading volume of 440,471 shares, compared to its average volume of 813,933. The stock has a market capitalization of $14.75 billion, a P/E ratio of 103.92, a price-to-earnings-growth ratio of 7.71 and a beta of 0.80. The stock has a fifty day moving average of $128.31 and a 200-day moving average of $125.14. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.05. Sun Communities, Inc. has a 52-week low of $102.74 and a 52-week high of $141.52.

Sun Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 3.18%. The ex-dividend date was Wednesday, March 27th. This is an increase from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s dividend payout ratio is currently 329.83%.

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.