Vestmark Advisory Solutions Inc. Acquires New Position in Sun Communities, Inc. (NYSE:SUI)

Vestmark Advisory Solutions Inc. bought a new position in Sun Communities, Inc. (NYSE:SUI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,816 shares of the real estate investment trust’s stock, valued at approximately $510,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Lindbrook Capital LLC lifted its stake in shares of Sun Communities by 120.2% in the 3rd quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 125 shares during the last quarter. Spire Wealth Management lifted its position 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 last quarter. GAMMA Investing LLC purchased a new stake in shares of Sun Communities during the fourth quarter valued at approximately $80,000. Tobam grew its holdings in shares of Sun Communities by 64.0% in the fourth quarter. Tobam now owns 743 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 290 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC increased its stake in shares of 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 worth $100,000 after buying an additional 215 shares during the period. 99.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SUI has been the topic of a number of recent analyst reports. 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. 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. JMP Securities restated a “market outperform” rating and set a $150.00 target price on shares of Sun Communities in a report on Thursday, May 2nd. Barclays reduced their price objective 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. Finally, Truist Financial lowered their price objective on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $138.92.

Insider Activity at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 4,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 66,852 shares in the company, valued at approximately $8,789,700.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Sun Communities news, CEO Baxter Underwood sold 4,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Clunet R. Lewis sold 500 shares of Sun Communities stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total transaction of $65,565.00. Following the completion of the sale, the director now owns 28,400 shares of the company’s stock, valued at $3,724,092. The disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock valued at $912,460 over the last 90 days. Corporate insiders own 1.89% of the company’s stock.

Sun Communities Stock Performance

Shares of SUI stock opened at $115.66 on Tuesday. The company has a market capitalization of $14.41 billion, a price-to-earnings ratio of 99.71, a price-to-earnings-growth ratio of 1.05 and a beta of 0.83. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.78 and a current ratio of 1.78. Sun Communities, Inc. has a one year low of $102.74 and a one year high of $141.52. The company’s 50-day moving average is $125.23 and its 200 day moving average is $125.80.

Sun Communities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a dividend of $0.94 per share. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. The ex-dividend date was Wednesday, March 27th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.25%. Sun Communities’s dividend payout ratio is presently 324.14%.

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.