Dimensional Fund Advisors LP Purchases 5,031 Shares of Sun Communities, Inc. (NYSE:SUI)

Dimensional Fund Advisors LP raised its holdings in shares of Sun Communities, Inc. (NYSE:SUIFree Report) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,782,006 shares of the real estate investment trust’s stock after purchasing an additional 5,031 shares during the quarter. Dimensional Fund Advisors LP owned 1.43% of Sun Communities worth $238,170,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in shares of Sun Communities by 18.8% during the third quarter. JPMorgan Chase & Co. now owns 6,567,246 shares of the real estate investment trust’s stock valued at $777,168,000 after buying an additional 1,040,076 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Sun Communities by 1.9% during the 3rd quarter. Principal Financial Group Inc. now owns 4,523,701 shares of the real estate investment trust’s stock worth $535,331,000 after acquiring an additional 84,767 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Sun Communities by 1.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,597,775 shares of the real estate investment trust’s stock worth $347,193,000 after acquiring an additional 31,831 shares in the last quarter. FMR LLC raised its holdings in shares of Sun Communities by 10.9% in the third quarter. FMR LLC now owns 2,406,644 shares of the real estate investment trust’s stock valued at $284,802,000 after purchasing an additional 236,771 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Sun Communities by 0.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,312,909 shares of the real estate investment trust’s stock valued at $273,710,000 after purchasing an additional 16,368 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Price Performance

NYSE SUI opened at $117.76 on Tuesday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.08. The company has a market cap of $14.68 billion, a PE ratio of 101.52, a price-to-earnings-growth ratio of 1.07 and a beta of 0.83. Sun Communities, Inc. has a 52 week low of $102.74 and a 52 week high of $141.52. The firm’s 50-day simple moving average is $124.02 and its two-hundred day simple moving average is $126.16.

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 boost 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 3.19%. The ex-dividend date of this dividend was Wednesday, March 27th. Sun Communities’s dividend payout ratio is presently 324.14%.

Insider Buying and Selling

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 owns 28,400 shares of the company’s stock, valued at approximately $3,724,092. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Sun Communities news, Director Clunet R. Lewis sold 500 shares of Sun Communities stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total transaction of $65,565.00. Following the completion of the transaction, the director now owns 28,400 shares of the company’s stock, valued at approximately $3,724,092. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Craig Leupold sold 2,500 shares of the company’s stock in a transaction dated 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 ninety days, insiders sold 7,000 shares of company stock valued at $912,460. Company insiders own 1.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Compass Point upped their price objective on shares of Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Barclays decreased their price target on Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. Deutsche Bank Aktiengesellschaft initiated coverage on Sun Communities in a research report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 price objective on the stock. BMO Capital Markets decreased their target price on Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, January 22nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $150.00 price target on shares of Sun Communities in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $138.92.

View Our Latest Stock Report on Sun Communities

Sun Communities Company 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 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.

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

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