Sun Communities, Inc. (NYSE:SUI) Shares Bought by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp grew its position in Sun Communities, Inc. (NYSE:SUI) by 175.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 183,895 shares of the real estate investment trust’s stock after purchasing an additional 117,251 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.15% of Sun Communities worth $23,264,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Sun Communities by 0.3% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,808 shares of the real estate investment trust’s stock worth $3,833,000 after buying an additional 100 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Sun Communities by 1.7% in the 4th quarter. Yousif Capital Management LLC now owns 6,236 shares of the real estate investment trust’s stock valued at $833,000 after buying an additional 105 shares during the period. US Bancorp DE boosted its stake in shares of Sun Communities by 0.5% in the fourth quarter. US Bancorp DE now owns 20,541 shares of the real estate investment trust’s stock worth $2,745,000 after buying an additional 107 shares during the last quarter. ZWJ Investment Counsel Inc. boosted its stake in shares of Sun Communities by 5.9% in the first quarter. ZWJ Investment Counsel Inc. now owns 2,017 shares of the real estate investment trust’s stock worth $259,000 after buying an additional 112 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC grew its holdings in Sun Communities by 4.9% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 2,944 shares of the real estate investment trust’s stock worth $393,000 after acquiring an additional 138 shares during the period. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Sun Communities Trading Up 0.6 %

Sun Communities stock traded up $0.76 during trading on Friday, reaching $126.90. 562,244 shares of the company were exchanged, compared to its average volume of 592,018. Sun Communities, Inc. has a 52-week low of $102.74 and a 52-week high of $141.52. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.78 and a quick ratio of 1.78. The stock’s 50 day simple moving average is $119.05 and its two-hundred day simple moving average is $123.92. The company has a market capitalization of $15.82 billion, a P/E ratio of 109.40, a PEG ratio of 0.93 and a beta of 0.88.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.94 per share. The ex-dividend date was Friday, June 28th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.96%. Sun Communities’s payout ratio is currently 324.14%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Evercore ISI dropped their price objective on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Royal Bank of Canada decreased 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. Finally, JMP Securities reissued a “market outperform” rating and set a $150.00 target price on shares of Sun Communities in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Sun Communities presently has a consensus rating of “Hold” and an average price target of $134.40.

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.