Sun Communities, Inc. (NYSE:SUI) Stock Position Lifted by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. increased its stake in Sun Communities, Inc. (NYSE:SUI) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,168,528 shares of the real estate investment trust’s stock after purchasing an additional 26,170 shares during the quarter. Sun Communities makes up approximately 1.9% of Duff & Phelps Investment Management Co.’s portfolio, making the stock its 9th biggest holding. Duff & Phelps Investment Management Co. owned 0.94% of Sun Communities worth $156,174,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SUI. Sugarloaf Wealth Management LLC boosted its holdings in shares of Sun Communities by 9.2% in the 4th 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 in the last quarter. Yousif Capital Management LLC boosted its stake in Sun Communities by 1.7% in 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 in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Sun Communities by 1.9% during 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 acquiring an additional 112 shares during the last quarter. Lindbrook Capital LLC raised its stake in shares of Sun Communities by 120.2% during the third quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 125 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Sun Communities by 3.1% during the third quarter. CIBC Asset Management Inc now owns 4,306 shares of the real estate investment trust’s stock worth $510,000 after acquiring an additional 130 shares in the last quarter. 99.59% of the stock is owned by institutional investors.

Sun Communities Price Performance

Shares of SUI stock traded down $7.76 during trading hours on Tuesday, hitting $112.55. 582,367 shares of the company’s stock were exchanged, compared to its average volume of 789,604. Sun Communities, Inc. has a fifty-two week low of $102.74 and a fifty-two week high of $141.52. The firm has a market cap of $14.03 billion, a P/E ratio of 98.73, a P/E/G ratio of 1.07 and a beta of 0.80. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.05. The firm has a 50 day moving average of $126.91 and a two-hundred day moving average of $125.47.

Sun Communities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a $0.94 dividend. This is a positive change from Sun Communities’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.76 annualized dividend and a dividend yield of 3.34%. Sun Communities’s dividend payout ratio (DPR) is 329.83%.

Insider Buying and Selling

In related news, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $131.48, for a total transaction of $525,920.00. Following the completion of the sale, the chief executive officer now directly owns 66,852 shares in the company, valued at $8,789,700.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $8,789,700.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Clunet R. Lewis sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total value of $65,565.00. Following the transaction, the director now owns 28,400 shares in the company, valued at $3,724,092. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,000 shares of company stock worth $912,460. Insiders own 1.89% of the company’s stock.

Analysts Set New Price Targets

SUI has been the topic of several recent analyst reports. BMO Capital Markets cut their target price on Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, January 22nd. Compass Point increased their price target on Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Barclays decreased their price target on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. Truist Financial cut their price objective on Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a research note on Monday, March 18th. Finally, JMP Securities reissued a “market outperform” rating and set a $150.00 price target on shares of Sun Communities in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Sun Communities has an average rating of “Hold” and a consensus target price of $141.17.

Sun Communities Profile

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.