Bfsg LLC Purchases New Shares in Sun Communities, Inc. (NYSE:SUI)

Bfsg LLC bought a new position in Sun Communities, Inc. (NYSE:SUI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,610 shares of the real estate investment trust’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SUI. Sugarloaf Wealth Management LLC raised its stake in shares of Sun Communities by 9.2% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 927 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 78 shares during the last quarter. Avior Wealth Management LLC boosted its stake in Sun Communities by 2.6% during the third quarter. Avior Wealth Management LLC now owns 3,727 shares of the real estate investment trust’s stock worth $441,000 after buying an additional 96 shares during the last quarter. Yousif Capital Management LLC boosted its stake in Sun Communities by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 6,236 shares of the real estate investment trust’s stock worth $833,000 after buying an additional 105 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Sun Communities by 1.9% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 6,002 shares of the real estate investment trust’s stock valued at $710,000 after purchasing an additional 112 shares during the period. Finally, Lindbrook Capital LLC raised its position in Sun Communities by 120.2% in the third quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 125 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SUI shares. Barclays cut their price target on Sun Communities from $157.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Truist Financial decreased 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. BMO Capital Markets decreased their price objective on Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, January 22nd. JMP Securities reissued a “market outperform” rating and set a $150.00 target price on shares of Sun Communities in a research note on Tuesday. Finally, Compass Point raised their price objective on Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Sun Communities presently has a consensus rating of “Hold” and a consensus target price of $141.17.

Insiders Place Their Bets

In other Sun Communities news, CEO Baxter Underwood sold 4,000 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction of $525,920.00. Following the transaction, the chief executive officer now directly owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Sun Communities news, CEO Baxter Underwood sold 4,000 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction of $525,920.00. Following the transaction, the chief executive officer now directly owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Craig Leupold sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $128.39, for a total value 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 over the last three months. 1.89% of the stock is currently owned by insiders.

Sun Communities Stock Down 1.1 %

Shares of NYSE SUI traded down $1.27 during mid-day trading on Thursday, reaching $119.03. The company had a trading volume of 63,626 shares, compared to its average volume of 792,201. Sun Communities, Inc. has a twelve month low of $102.74 and a twelve month high of $141.52. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a market capitalization of $14.84 billion, a PE ratio of 105.53, a price-to-earnings-growth ratio of 7.68 and a beta of 0.80. The stock’s 50 day moving average is $127.51 and its 200-day moving average is $125.20.

Sun Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Sun Communities’s previous quarterly dividend of $0.93. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.16%. Sun Communities’s dividend payout ratio is 329.83%.

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.