Sun Communities, Inc. (NYSE:SUI) Holdings Lifted by Vert Asset Management LLC

Vert Asset Management LLC grew its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 0.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 51,023 shares of the real estate investment trust’s stock after purchasing an additional 372 shares during the quarter. Sun Communities accounts for 2.4% of Vert Asset Management LLC’s investment portfolio, making the stock its 15th biggest position. Vert Asset Management LLC’s holdings in Sun Communities were worth $6,896,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Centersquare Investment Management LLC raised its stake in Sun Communities by 4.7% during the 1st quarter. Centersquare Investment Management LLC now owns 2,171,868 shares of the real estate investment trust’s stock valued at $279,259,000 after acquiring an additional 96,529 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Sun Communities by 8.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 143,209 shares of the real estate investment trust’s stock worth $18,414,000 after purchasing an additional 11,195 shares during the period. Manning & Napier Advisors LLC acquired a new stake in Sun Communities in the second quarter worth about $13,164,000. SG Americas Securities LLC grew its position in Sun Communities by 145.0% in the 1st quarter. SG Americas Securities LLC now owns 20,576 shares of the real estate investment trust’s stock valued at $2,646,000 after buying an additional 12,177 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Sun Communities during the 1st quarter valued at about $1,106,000. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of Sun Communities stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $131.43, for a total transaction of $394,290.00. Following the transaction, the chief executive officer now directly owns 63,462 shares in the company, valued at approximately $8,340,810.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.89% of the stock is owned by insiders.

Sun Communities Price Performance

NYSE SUI opened at $136.19 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. Sun Communities, Inc. has a 1 year low of $102.74 and a 1 year high of $147.83. The company has a market cap of $16.97 billion, a PE ratio of 117.41, a PEG ratio of 0.95 and a beta of 0.91. The stock’s 50-day moving average price is $135.31 and its two-hundred day moving average price is $125.70.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.76%. Sun Communities’s dividend payout ratio is currently 324.14%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SUI shares. Robert W. Baird increased their price objective on shares of Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a research note on Friday. Royal Bank of Canada boosted their price objective on Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Truist Financial raised their target price on Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Finally, UBS Group upgraded shares of Sun Communities to a “strong-buy” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.82.

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.