Farmers & Merchants Investments Inc. Makes New $26,000 Investment in Sun Communities, Inc. (NYSE:SUI)

Farmers & Merchants Investments Inc. acquired a new position in Sun Communities, Inc. (NYSE:SUI) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 203 shares of the real estate investment trust’s stock, valued at approximately $26,000.

Several other large investors have also recently modified their holdings of SUI. V Square Quantitative Management LLC purchased a new position in shares of Sun Communities in the fourth quarter worth about $32,000. Quest Partners LLC purchased a new position in Sun Communities during the 4th quarter valued at about $51,000. GAMMA Investing LLC purchased a new position in Sun Communities during the 4th quarter valued at about $80,000. Tobam increased its holdings in Sun Communities by 64.0% during the 4th quarter. Tobam now owns 743 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 290 shares during the period. Finally, Sugarloaf Wealth Management LLC increased its holdings in Sun Communities by 9.2% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 927 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 78 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

SUI has been the topic of a number of research analyst reports. JMP Securities restated a “market outperform” rating and set a $150.00 price target on shares of Sun Communities in a report on Thursday, May 2nd. Truist Financial reduced their price target on Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a report on Monday, March 18th. Compass Point upped their target price on Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Royal Bank of Canada reduced their target price on Sun Communities from $142.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Finally, Evercore ISI reduced their target price on Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $136.27.

Sun Communities Stock Down 0.7 %

SUI stock traded down $0.82 during midday trading on Tuesday, hitting $117.94. The company’s stock had a trading volume of 119,130 shares, compared to its average volume of 771,889. The company has a market cap of $14.70 billion, a PE ratio of 102.38, a P/E/G ratio of 1.06 and a beta of 0.89. Sun Communities, Inc. has a 12 month low of $102.74 and a 12 month high of $141.52. 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 firm’s 50-day moving average is $117.74 and its 200-day moving average is $125.16.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.76 annualized dividend and a yield of 3.19%. Sun Communities’s dividend payout ratio (DPR) is presently 324.14%.

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.