Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 2,800 Shares of Sun Communities, Inc. (NYSE:SUI)

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Sun Communities, Inc. (NYSE:SUI) by 11.6% during the 4th quarter, HoldingsChannel reports. The firm owned 27,008 shares of the real estate investment trust’s stock after buying an additional 2,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Sun Communities were worth $3,321,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Sun Communities by 8.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 84 shares during the period. Cascade Investment Advisors Inc. grew its holdings in Sun Communities by 0.8% during the 4th quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust’s stock worth $1,276,000 after acquiring an additional 85 shares in the last quarter. Cetera Trust Company N.A increased its position in Sun Communities by 6.0% during the 4th quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust’s stock valued at $229,000 after purchasing an additional 105 shares during the period. Avior Wealth Management LLC raised its holdings in shares of Sun Communities by 3.0% in the 3rd quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust’s stock valued at $585,000 after purchasing an additional 125 shares in the last quarter. Finally, CKW Financial Group lifted its position in shares of Sun Communities by 45.0% in the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 135 shares during the period. 99.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SUI. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Robert W. Baird downgraded Sun Communities from an “outperform” rating to a “neutral” rating and cut their price target for the company from $145.00 to $126.00 in a report on Thursday, November 7th. Truist Financial raised Sun Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Jefferies Financial Group reduced their target price on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Finally, Baird R W cut shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $134.55.

Sun Communities Stock Performance

SUI opened at $134.98 on Wednesday. The firm’s 50-day moving average price is $125.03 and its 200-day moving average price is $129.52. The company has a market cap of $17.20 billion, a P/E ratio of 72.57 and a beta of 0.90. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a 52-week low of $110.98 and a 52-week high of $147.83.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.94 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.79%. Sun Communities’s dividend payout ratio is currently 202.15%.

About Sun Communities

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.