Sun Communities, Inc. (NYSE:SUI) Shares Purchased by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. raised its stake in Sun Communities, Inc. (NYSE:SUI) by 7.9% during the fourth quarter, Holdings Channel reports. The firm owned 3,296 shares of the real estate investment trust’s stock after purchasing an additional 240 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Sun Communities were worth $441,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Duff & Phelps Investment Management Co. boosted its holdings in shares of Sun Communities by 2.3% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 1,168,528 shares of the real estate investment trust’s stock valued at $156,174,000 after purchasing an additional 26,170 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Sun Communities by 14.4% in the 4th quarter. Van ECK Associates Corp now owns 50,905 shares of the real estate investment trust’s stock valued at $6,803,000 after purchasing an additional 6,420 shares during the last quarter. Naviter Wealth LLC boosted its holdings in shares of Sun Communities by 12.9% in the 4th quarter. Naviter Wealth LLC now owns 8,587 shares of the real estate investment trust’s stock valued at $1,156,000 after purchasing an additional 980 shares during the last quarter. Choreo LLC boosted its holdings in shares of Sun Communities by 20.3% in the 4th quarter. Choreo LLC now owns 4,766 shares of the real estate investment trust’s stock valued at $641,000 after purchasing an additional 804 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Sun Communities by 75.3% in the 4th quarter. Russell Investments Group Ltd. now owns 1,327,781 shares of the real estate investment trust’s stock valued at $177,638,000 after purchasing an additional 570,329 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. BMO Capital Markets decreased their price target on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, January 22nd. Royal Bank of Canada decreased their price target on shares of Sun Communities from $142.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on shares of Sun Communities in a report on Tuesday, January 30th. They set a “hold” rating and a $129.00 target price on the stock. JMP Securities restated a “market outperform” rating and set a $150.00 target price on shares of Sun Communities in a report on Tuesday, April 23rd. Finally, Evercore ISI reduced their target price on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $138.92.

Insider Buying and Selling

In related news, Director Craig Leupold sold 2,500 shares of Sun Communities stock in a transaction on 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 filing with the SEC, which is available at the SEC website. In other news, Director Clunet R. Lewis sold 500 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were 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 owns 28,400 shares of the company’s stock, valued at approximately $3,724,092. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig Leupold sold 2,500 shares of the business’s 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 disclosure for this sale can be found here. Insiders have sold 7,000 shares of company stock valued at $912,460 in the last quarter. Company insiders own 1.89% of the company’s stock.

Sun Communities Stock Performance

Sun Communities stock opened at $112.74 on Thursday. Sun Communities, Inc. has a 12-month low of $102.74 and a 12-month high of $141.52. The company has a market capitalization of $14.05 billion, a price-to-earnings ratio of 97.19, a price-to-earnings-growth ratio of 1.00 and a beta of 0.83. 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 firm’s fifty day moving average price is $126.11 and its 200 day moving average price is $125.43.

Sun Communities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $0.94 per share. This is an increase from Sun Communities’s previous quarterly dividend of $0.93. The ex-dividend date was Wednesday, March 27th. This represents a $3.76 annualized dividend and a yield of 3.34%. Sun Communities’s payout ratio is 324.14%.

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.