Sun Communities, Inc. (NYSE:SUI - Get Free Report) Director Craig Leupold sold 2,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were 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 SEC, which is accessible through the SEC website.
Sun Communities Stock Up 1.8 %
NYSE SUI opened at $128.58 on Friday. The stock has a fifty day moving average of $128.99 and a 200-day moving average of $125.06. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a market capitalization of $16.00 billion, a P/E ratio of 112.79, a price-to-earnings-growth ratio of 8.20 and a beta of 0.81. Sun Communities, Inc. has a 52 week low of $102.74 and a 52 week high of $143.99.
Sun Communities Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be given 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 is Wednesday, March 27th. This represents a $3.76 annualized dividend and a dividend yield of 2.92%. Sun Communities's payout ratio is currently 329.83%.
Institutional Investors Weigh In On Sun Communities
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A number of institutional investors and hedge funds have recently modified their holdings of the business. HighPoint Advisor Group LLC bought a new stake in shares of Sun Communities in the 4th quarter valued at $208,000. PNC Financial Services Group Inc. increased its holdings in shares of Sun Communities by 30.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,836 shares of the real estate investment trust's stock worth $379,000 after acquiring an additional 661 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Sun Communities during the fourth quarter worth about $4,544,000. Royal London Asset Management Ltd. raised its position in shares of Sun Communities by 6.7% during the fourth quarter. Royal London Asset Management Ltd. now owns 50,490 shares of the real estate investment trust's stock worth $6,748,000 after purchasing an additional 3,173 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Sun Communities by 13.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 258,491 shares of the real estate investment trust's stock valued at $34,547,000 after purchasing an additional 30,698 shares in the last quarter. 99.59% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on SUI. Barclays lowered their target price on shares of Sun Communities from $157.00 to $155.00 and set an "overweight" rating on the stock in a research note on Friday, January 26th. Deutsche Bank Aktiengesellschaft started coverage on Sun Communities in a report on Tuesday, January 30th. They issued a "hold" rating and a $129.00 target price for the company. Compass Point boosted their price target on Sun Communities from $116.00 to $125.00 and gave the company a "neutral" rating in a research note on Thursday, March 21st. Truist Financial dropped their price objective on Sun Communities from $143.00 to $136.00 and set a "hold" rating for the company in a research note on Monday, March 18th. Finally, JMP Securities reissued a "market outperform" rating and set a $150.00 price objective on shares of Sun Communities in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $141.17.
View Our Latest Research Report on SUI
About Sun Communities
(
Get Free Report)
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.
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