Foster & Motley Inc. Sells 1,976 Shares of Sun Communities, Inc. (NYSE:SUI)

Foster & Motley Inc. lowered its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 53.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,748 shares of the real estate investment trust’s stock after selling 1,976 shares during the quarter. Foster & Motley Inc.’s holdings in Sun Communities were worth $234,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI grew its holdings in Sun Communities by 104.8% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 4,992 shares of the real estate investment trust’s stock valued at $668,000 after buying an additional 2,555 shares in the last quarter. Cetera Trust Company N.A purchased a new position in Sun Communities during the 4th quarter valued at approximately $225,000. Handelsbanken Fonder AB grew its holdings in Sun Communities by 24.9% during the 4th quarter. Handelsbanken Fonder AB now owns 27,616 shares of the real estate investment trust’s stock valued at $3,691,000 after buying an additional 5,500 shares in the last quarter. CWM LLC grew its holdings in Sun Communities by 60.3% during the 4th quarter. CWM LLC now owns 1,590 shares of the real estate investment trust’s stock valued at $213,000 after buying an additional 598 shares in the last quarter. Finally, abrdn plc grew its holdings in Sun Communities by 33.8% during the 4th quarter. abrdn plc now owns 76,538 shares of the real estate investment trust’s stock valued at $10,229,000 after buying an additional 19,314 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Price Performance

Shares of SUI stock opened at $118.92 on Friday. Sun Communities, Inc. has a 52-week low of $102.74 and a 52-week high of $141.52. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market capitalization of $14.82 billion, a P/E ratio of 104.32, a P/E/G ratio of 1.08 and a beta of 0.80. The stock has a 50 day moving average price of $127.32 and a 200 day moving average price of $125.16.

Sun Communities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $0.94 per share. This is a positive change from Sun Communities’s previous quarterly dividend of $0.93. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Wednesday, March 27th. Sun Communities’s dividend payout ratio (DPR) is currently 329.83%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SUI. BMO Capital Markets cut their price target on Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. Truist Financial cut their price target on Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a report on Monday, March 18th. JMP Securities reiterated a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a report on Tuesday. Compass Point lifted 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. Finally, Deutsche Bank Aktiengesellschaft began coverage on Sun Communities in a report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $141.17.

Insider Buying and Selling

In related news, CEO Baxter Underwood sold 4,000 shares of the firm’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 of the company’s stock, valued at approximately $8,789,700.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Baxter Underwood sold 4,000 shares of the firm’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 of the company’s stock, valued at approximately $8,789,700.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Craig Leupold sold 2,500 shares of Sun Communities stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total value of $320,975.00. The disclosure for this sale can be found here. In the last three months, insiders sold 7,000 shares of company stock valued at $912,460. Insiders own 1.89% of the company’s stock.

Sun Communities Company 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.