Massachusetts Financial Services Co. MA Buys 16,368 Shares of Sun Communities, Inc. (NYSE:SUI)

Massachusetts Financial Services Co. MA lifted its holdings in Sun Communities, Inc. (NYSE:SUIFree Report) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,312,909 shares of the real estate investment trust’s stock after purchasing an additional 16,368 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Sun Communities were worth $273,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Lindbrook Capital LLC raised its position in Sun Communities by 120.2% in the 3rd quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 125 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Sun Communities in the second quarter worth approximately $27,000. V Square Quantitative Management LLC bought a new stake in shares of Sun Communities in the second quarter worth approximately $31,000. Covestor Ltd raised its holdings in shares of Sun Communities by 25.8% during the second quarter. Covestor Ltd now owns 503 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 103 shares during the last quarter. Finally, First Manhattan CO. LLC. lifted its position in Sun Communities by 12.7% during the first quarter. First Manhattan CO. LLC. now owns 890 shares of the real estate investment trust’s stock valued at $125,000 after purchasing an additional 100 shares during the period. 94.79% of the stock is owned by institutional investors.

Sun Communities Trading Down 3.0 %

Shares of NYSE:SUI opened at $123.35 on Tuesday. The stock has a 50 day moving average of $130.93 and a 200 day moving average of $124.02. The company has a market cap of $15.35 billion, a PE ratio of 67.40, a price-to-earnings-growth ratio of 6.86 and a beta of 0.80. Sun Communities, Inc. has a 12-month low of $102.74 and a 12-month high of $162.45. The company has a current ratio of 2.65, a quick ratio of 2.65 and a debt-to-equity ratio of 0.94.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a $0.93 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.02%. Sun Communities’s payout ratio is currently 203.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a research report on Wednesday, December 20th. BMO Capital Markets cut their price objective on Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. Barclays lowered their target price on Sun Communities from $157.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Evercore ISI boosted their price target on Sun Communities from $128.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, November 27th. Finally, Compass Point reduced their price target on shares of Sun Communities from $125.00 to $116.00 and set a “neutral” rating for the company in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $141.00.

Get Our Latest Stock Analysis on SUI

Insider Transactions at Sun Communities

In related news, CEO Baxter Underwood sold 2,000 shares of Sun Communities stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $128.99, for a total transaction of $257,980.00. Following the transaction, the chief executive officer now owns 66,896 shares in the company, valued at approximately $8,628,915.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.06% of the company’s stock.

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 September 30, 2023, the Company owned, operated, or had an interest in a portfolio of 670 developed MH, RV and Marina properties comprising approximately 180,170 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.

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

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