Asset Management One Co. Ltd. Has $30.08 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

Asset Management One Co. Ltd. cut its holdings in Sun Communities, Inc. (NYSE:SUI) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 222,595 shares of the real estate investment trust’s stock after selling 10,342 shares during the quarter. Asset Management One Co. Ltd. owned 0.18% of Sun Communities worth $30,084,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SUI. Quest Partners LLC lifted its stake in Sun Communities by 12,700.0% in the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 381 shares during the period. 1620 Investment Advisors Inc. acquired a new position in Sun Communities in the second quarter valued at approximately $62,000. Farther Finance Advisors LLC lifted its stake in Sun Communities by 89.1% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 236 shares during the period. Fidelis Capital Partners LLC acquired a new position in Sun Communities in the first quarter valued at approximately $83,000. Finally, Blue Trust Inc. raised its position in shares of Sun Communities by 230.7% during the third quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $84,000 after purchasing an additional 436 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 equities analysts have recently weighed in on SUI shares. Robert W. Baird upped their target price on Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. UBS Group raised Sun Communities to a “strong-buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada upped their target price on Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Evercore ISI upped their price target on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Sun Communities currently has a consensus rating of “Moderate Buy” and an average target price of $143.91.

Sun Communities Trading Down 0.0 %

Shares of Sun Communities stock opened at $130.28 on Tuesday. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83. The firm has a market cap of $16.24 billion, a PE ratio of 151.49, a P/E/G ratio of 0.95 and a beta of 0.91. The stock has a fifty day moving average price of $135.72 and a 200-day moving average price of $126.63. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42.

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.89%. The ex-dividend date was Monday, September 30th. Sun Communities’s dividend payout ratio (DPR) is currently 437.21%.

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.