Vestmark Advisory Solutions Inc. Takes Position in Sun Communities, Inc. (NYSE:SUI)

Vestmark Advisory Solutions Inc. bought a new position in shares of Sun Communities, Inc. (NYSE:SUI) in the fourth quarter, HoldingsChannel reports. The fund bought 3,816 shares of the real estate investment trust’s stock, valued at approximately $510,000.

Other large investors have also recently bought and sold shares of the company. Sugarloaf Wealth Management LLC boosted its holdings in shares of Sun Communities by 9.2% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 927 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 78 shares in the last quarter. Yousif Capital Management LLC grew its holdings in shares of Sun Communities by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 6,236 shares of the real estate investment trust’s stock worth $833,000 after purchasing an additional 105 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Sun Communities by 1.9% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 6,002 shares of the real estate investment trust’s stock worth $710,000 after purchasing an additional 112 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Sun Communities by 120.2% in the 3rd quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 125 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in Sun Communities by 3.1% during the 3rd quarter. CIBC Asset Management Inc now owns 4,306 shares of the real estate investment trust’s stock worth $510,000 after buying an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Performance

NYSE SUI opened at $115.66 on Tuesday. The stock has a market capitalization of $14.41 billion, a price-to-earnings ratio of 99.71, a PEG ratio of 1.05 and a beta of 0.83. The business’s 50 day moving average is $125.23 and its two-hundred day moving average is $125.80. 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.

Sun Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s dividend payout ratio is currently 324.14%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barclays reduced their price objective on Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Sun Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $129.00 price target for the company. Compass Point lifted their price objective on shares of Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Royal Bank of Canada lowered their price target 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, Truist Financial reduced their price objective on Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $138.92.

Insiders Place Their Bets

In other Sun Communities news, Director Clunet R. Lewis sold 500 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total transaction of $65,565.00. Following the sale, the director now directly owns 28,400 shares in the company, valued at approximately $3,724,092. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Baxter Underwood sold 4,000 shares of the company’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 value of $525,920.00. Following the sale, the chief executive officer now owns 66,852 shares in the company, valued at approximately $8,789,700.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Clunet R. Lewis sold 500 shares of Sun Communities stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total value of $65,565.00. Following the transaction, the director now directly owns 28,400 shares of the company’s stock, valued at $3,724,092. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,000 shares of company stock worth $912,460. 1.89% of the stock is owned by corporate insiders.

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.