Sun Communities, Inc. (NYSE:SUI) Shares Acquired by Whittier Trust Co.

Whittier Trust Co. lifted its position in Sun Communities, Inc. (NYSE:SUI) by 2.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 211,431 shares of the real estate investment trust’s stock after acquiring an additional 5,648 shares during the period. Whittier Trust Co.’s holdings in Sun Communities were worth $28,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in shares of Sun Communities by 30.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,836 shares of the real estate investment trust’s stock worth $379,000 after acquiring an additional 661 shares in the last quarter. HighPoint Advisor Group LLC purchased a new position in shares of Sun Communities during the 4th quarter worth approximately $208,000. Hazelview Securities Inc. boosted its position in Sun Communities by 0.5% in the 1st quarter. Hazelview Securities Inc. now owns 130,544 shares of the real estate investment trust’s stock valued at $16,375,000 after buying an additional 660 shares during the period. Vert Asset Management LLC lifted its position in shares of Sun Communities by 5.1% during the 1st quarter. Vert Asset Management LLC now owns 50,173 shares of the real estate investment trust’s stock worth $6,451,000 after purchasing an additional 2,440 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Sun Communities during the 1st quarter worth $1,504,000. 99.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Evercore ISI upped their target price on shares of Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a report on Monday. Wells Fargo & Company raised their target price on shares of Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. UBS Group upgraded shares of Sun Communities to a “strong-buy” rating in a research report on Thursday, October 10th. Robert W. Baird increased their price target on shares of Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Finally, StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.91.

Sun Communities Stock Performance

Shares of Sun Communities stock traded down $2.40 during trading on Monday, reaching $133.79. The company’s stock had a trading volume of 447,246 shares, compared to its average volume of 799,271. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.42 and a current ratio of 1.42. The business’s fifty day moving average price is $135.31 and its 200-day moving average price is $125.74. The firm has a market cap of $16.67 billion, a price-to-earnings ratio of 115.63, a price-to-earnings-growth ratio of 1.00 and a beta of 0.91. Sun Communities, Inc. has a one year low of $102.74 and a one year high of $147.83.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Monday, September 30th. Sun Communities’s payout ratio is 324.14%.

Insider Buying and Selling at Sun Communities

In other news, CEO Baxter Underwood sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $131.43, for a total value of $394,290.00. Following the transaction, the chief executive officer now directly owns 63,462 shares of the company’s stock, valued at $8,340,810.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.89% of the company’s stock.

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.