Sun Communities, Inc. (NYSE:SUI) Shares Bought by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI lifted its position in shares of Sun Communities, Inc. (NYSE:SUI) by 104.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,992 shares of the real estate investment trust’s stock after acquiring an additional 2,555 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Sun Communities were worth $668,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SUI. Cetera Trust Company N.A bought a new position in Sun Communities in the fourth quarter worth about $225,000. Handelsbanken Fonder AB increased its position in Sun Communities by 24.9% in the fourth quarter. Handelsbanken Fonder AB now owns 27,616 shares of the real estate investment trust’s stock worth $3,691,000 after buying an additional 5,500 shares during the period. CWM LLC lifted its stake in Sun Communities by 60.3% in the fourth quarter. CWM LLC now owns 1,590 shares of the real estate investment trust’s stock valued at $213,000 after buying an additional 598 shares during the last quarter. abrdn plc lifted its stake in Sun Communities by 33.8% in the fourth quarter. abrdn plc now owns 76,538 shares of the real estate investment trust’s stock valued at $10,229,000 after buying an additional 19,314 shares during the last quarter. Finally, Greenleaf Trust acquired a new position in shares of Sun Communities during the fourth quarter valued at $236,000. 99.59% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Clunet R. Lewis sold 500 shares of the 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 sale, the director now directly owns 28,400 shares of the company’s stock, valued at $3,724,092. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Sun Communities news, Director Craig Leupold sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $128.39, for a total transaction of $320,975.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the director now directly owns 28,400 shares in the company, valued at $3,724,092. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,000 shares of company stock worth $912,460. Corporate insiders own 1.89% of the company’s stock.

Sun Communities Trading Down 0.1 %

Shares of SUI stock opened at $117.53 on Monday. The stock has a 50-day simple moving average of $127.89 and a 200 day simple moving average of $125.20. The stock has a market capitalization of $14.65 billion, a P/E ratio of 103.24, a P/E/G ratio of 7.53 and a beta of 0.80. Sun Communities, Inc. has a fifty-two week low of $102.74 and a fifty-two week high of $141.52. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.05.

Sun Communities Increases Dividend

The firm also recently disclosed 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. This is a positive change from Sun Communities’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.76 annualized dividend and a dividend yield of 3.20%. Sun Communities’s dividend payout ratio (DPR) is 329.83%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JMP Securities reiterated a “market outperform” rating and issued a $150.00 price objective on shares of Sun Communities in a research report on Wednesday, March 20th. Truist Financial reduced their price objective on Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a research report on Monday, March 18th. Compass Point raised 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. Deutsche Bank Aktiengesellschaft assumed coverage on Sun Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $129.00 target price on the stock. Finally, Barclays decreased their price target on Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $141.17.

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.