Central Pacific Bank Trust Division Invests $508,000 in Sun Communities, Inc. (NYSE:SUI)

Central Pacific Bank Trust Division purchased a new position in Sun Communities, Inc. (NYSE:SUIFree Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,050 shares of the real estate investment trust’s stock, valued at approximately $508,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farmers & Merchants Investments Inc. bought a new position in Sun Communities in the first quarter worth approximately $26,000. V Square Quantitative Management LLC bought a new position in Sun Communities in the fourth quarter worth approximately $32,000. CKW Financial Group bought a new position in Sun Communities in the first quarter worth approximately $38,000. Quest Partners LLC bought a new position in Sun Communities in the fourth quarter worth approximately $51,000. Finally, GAMMA Investing LLC bought a new position in Sun Communities in the fourth quarter worth approximately $80,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Read Our Latest Stock Report on SUI

Sun Communities Stock Down 0.1 %

Shares of Sun Communities stock traded down $0.06 during trading on Wednesday, reaching $118.06. The company’s stock had a trading volume of 19,025 shares, compared to its average volume of 760,020. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.08. The company has a market cap of $14.71 billion, a price-to-earnings ratio of 101.81, a P/E/G ratio of 1.04 and a beta of 0.88. Sun Communities, Inc. has a 1-year low of $102.74 and a 1-year high of $141.52. The company has a 50-day simple moving average of $117.71 and a two-hundred day simple moving average of $124.38.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.76 dividend on an annualized basis and a yield of 3.18%. Sun Communities’s dividend payout ratio (DPR) is 324.14%.

Sun Communities Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

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