Sun Communities, Inc. (NYSE:SUI) Shares Sold by Norden Group LLC

Norden Group LLC reduced its position in Sun Communities, Inc. (NYSE:SUI) by 24.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,025 shares of the real estate investment trust’s stock after selling 672 shares during the period. Norden Group LLC’s holdings in Sun Communities were worth $271,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Sugarloaf Wealth Management LLC lifted its holdings in 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 worth $124,000 after acquiring an additional 78 shares during the last quarter. Yousif Capital Management LLC increased its stake in shares of Sun Communities by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 6,236 shares of the real estate investment trust’s stock valued at $833,000 after acquiring an additional 105 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in 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 worth $710,000 after purchasing an additional 112 shares in the last quarter. Lindbrook Capital LLC lifted its position in Sun Communities by 120.2% in the third 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 during the period. Finally, CIBC Asset Management Inc boosted its stake in Sun Communities by 3.1% during the 3rd quarter. CIBC Asset Management Inc now owns 4,306 shares of the real estate investment trust’s stock valued at $510,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on SUI shares. Evercore ISI decreased their target price on Sun Communities from $145.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday. BMO Capital Markets dropped their price target on Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, January 22nd. Deutsche Bank Aktiengesellschaft began coverage on Sun Communities in a research report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 price target for the company. Truist Financial cut their price target on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a report on Monday, March 18th. Finally, Royal Bank of Canada lowered their price objective 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $138.92.

Insider Buying and Selling

In related news, Director Clunet R. Lewis sold 500 shares of Sun Communities stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total value of $65,565.00. Following the completion of the sale, the director now directly owns 28,400 shares in the company, valued at $3,724,092. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Sun Communities news, 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 value of $320,975.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Clunet R. Lewis sold 500 shares of the company’s 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 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 in the last quarter. 1.89% of the stock is owned by corporate insiders.

Sun Communities Stock Up 1.3 %

Shares of SUI stock opened at $112.74 on Thursday. 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 stock has a fifty day moving average price of $126.11 and a 200 day moving average price of $125.43. Sun Communities, Inc. has a one year low of $102.74 and a one year high of $141.52. The stock has a market cap of $14.05 billion, a P/E ratio of 97.19, a price-to-earnings-growth ratio of 1.00 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 given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 3.34%. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Wednesday, March 27th. Sun Communities’s dividend payout ratio is 324.14%.

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.