Sun Communities, Inc. (NYSE:SUI) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. cut its position in Sun Communities, Inc. (NYSE:SUI) by 53.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,748 shares of the real estate investment trust’s stock after selling 1,976 shares during the quarter. Foster & Motley Inc.’s holdings in Sun Communities were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of SUI. Lindbrook Capital LLC boosted its holdings 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 valued at $27,000 after purchasing an additional 125 shares during the period. 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 purchasing an additional 235 shares during the period. Tobam boosted its holdings in Sun Communities by 64.0% in the fourth quarter. Tobam now owns 743 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 290 shares during the period. Sugarloaf Wealth Management LLC boosted its holdings in Sun Communities by 33.9% in the third 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 period. Finally, Raymond James Trust N.A. purchased a new position in Sun Communities in the fourth quarter valued at $203,000. 99.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SUI shares. Compass Point lifted their target price on Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. BMO Capital Markets decreased their price target on Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on Sun Communities in a report on Tuesday, January 30th. They set a “hold” rating and a $129.00 price target for the company. Truist Financial decreased their price target on Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a report on Monday, March 18th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $150.00 price target on shares of Sun Communities in a report on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $141.17.

Insider Transactions at Sun Communities

In other news, Director Craig Leupold sold 2,500 shares of Sun Communities stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $128.39, for a total transaction of $320,975.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $131.48, for a total value of $525,920.00. Following the transaction, the chief executive officer now owns 66,852 shares in the company, valued at approximately $8,789,700.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Craig Leupold sold 2,500 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $128.39, for a total value of $320,975.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,000 shares of company stock worth $912,460. Corporate insiders own 1.89% of the company’s stock.

Sun Communities Stock Down 1.1 %

SUI opened at $118.92 on Friday. The business’s 50-day simple moving average is $127.32 and its 200-day simple moving average is $125.16. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.66 and a current ratio of 1.66. Sun Communities, Inc. has a one year low of $102.74 and a one year high of $141.52. The stock has a market capitalization of $14.82 billion, a P/E ratio of 104.32, a price-to-earnings-growth ratio of 1.08 and a beta of 0.80.

Sun Communities Increases Dividend

The company 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. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.16%. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s payout ratio is 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.