Hazelview Securities Inc. Has $16.38 Million Position in Sun Communities, Inc. (NYSE:SUI)

Hazelview Securities Inc. increased its position in shares of Sun Communities, Inc. (NYSE:SUI) by 0.5% during the first quarter, Holdings Channel reports. The institutional investor owned 130,544 shares of the real estate investment trust’s stock after purchasing an additional 660 shares during the quarter. Sun Communities comprises 3.1% of Hazelview Securities Inc.’s holdings, making the stock its 14th biggest position. Hazelview Securities Inc.’s holdings in Sun Communities were worth $16,375,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Evoke Wealth LLC bought a new position in Sun Communities during the fourth quarter worth about $5,594,000. Clearbridge Investments LLC lifted its stake in Sun Communities by 12.3% during the fourth quarter. Clearbridge Investments LLC now owns 304,180 shares of the real estate investment trust’s stock worth $40,654,000 after purchasing an additional 33,382 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Sun Communities by 5.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 673,215 shares of the real estate investment trust’s stock worth $89,975,000 after purchasing an additional 33,795 shares during the period. Strs Ohio lifted its stake in Sun Communities by 8.6% during the fourth quarter. Strs Ohio now owns 301,096 shares of the real estate investment trust’s stock worth $40,241,000 after purchasing an additional 23,792 shares during the period. Finally, abrdn plc lifted its stake in Sun Communities by 33.8% during the fourth quarter. abrdn plc now owns 76,538 shares of the real estate investment trust’s stock worth $10,229,000 after purchasing an additional 19,314 shares during the period. 99.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a research note on Thursday, May 2nd. Evercore ISI dropped their price objective on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Royal Bank of Canada dropped their price objective on shares of Sun Communities from $142.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Truist Financial lowered their target price 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. Finally, Compass Point lifted their target price on shares of Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. One investment 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. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $136.27.

Insider Activity

In related news, Director Craig Leupold sold 2,500 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total value of $320,975.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.89% of the stock is owned by company insiders.

Sun Communities Trading Down 0.1 %

Shares of SUI stock traded down $0.15 on Wednesday, hitting $118.88. The stock had a trading volume of 144,377 shares, compared to its average volume of 772,701. Sun Communities, Inc. has a twelve month low of $102.74 and a twelve month high of $141.52. The firm has a market cap of $14.82 billion, a P/E ratio of 102.04, a PEG ratio of 1.05 and a beta of 0.87. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.08. The company has a fifty day moving average price of $117.65 and a two-hundred day moving average price of $125.37.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Friday, June 28th. Sun Communities’s dividend payout ratio (DPR) 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.