Sun Communities, Inc. (NYSE:SUI) Shares Sold by FDx Advisors Inc.

FDx Advisors Inc. lessened its stake in Sun Communities, Inc. (NYSE:SUIFree Report) by 14.2% during the third quarter, Holdings Channel reports. The firm owned 1,994 shares of the real estate investment trust’s stock after selling 331 shares during the period. FDx Advisors Inc.’s holdings in Sun Communities were worth $236,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SUI. MetLife Investment Management LLC acquired a new position in shares of Sun Communities in the 1st quarter valued at $401,000. Yousif Capital Management LLC lifted its holdings in shares of Sun Communities by 12.2% during the 1st quarter. Yousif Capital Management LLC now owns 6,798 shares of the real estate investment trust’s stock valued at $1,192,000 after acquiring an additional 739 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Sun Communities by 21.1% during the 1st quarter. Raymond James Trust N.A. now owns 1,190 shares of the real estate investment trust’s stock valued at $208,000 after acquiring an additional 207 shares in the last quarter. Prudential PLC acquired a new position in shares of Sun Communities during the 1st quarter valued at $385,000. Finally, Cetera Investment Advisers lifted its holdings in shares of Sun Communities by 1.9% during the 1st quarter. Cetera Investment Advisers now owns 3,453 shares of the real estate investment trust’s stock valued at $605,000 after acquiring an additional 64 shares in the last quarter. Institutional investors and hedge funds own 94.79% of the company’s stock.

Sun Communities Price Performance

SUI opened at $128.66 on Wednesday. The company has a 50-day moving average of $130.58 and a 200-day moving average of $124.58. The company has a market capitalization of $16.01 billion, a P/E ratio of 70.31, a PEG ratio of 5.03 and a beta of 0.81. Sun Communities, Inc. has a 1-year low of $102.74 and a 1-year high of $163.83. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.65 and a current ratio of 2.65.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Thursday, December 28th. Sun Communities’s payout ratio is currently 203.28%.

Insider Transactions at Sun Communities

In other news, CEO Baxter Underwood sold 2,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $128.99, for a total value of $257,980.00. Following the completion of the sale, the chief executive officer now owns 66,896 shares of the company’s stock, valued at approximately $8,628,915.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Sun Communities from $129.00 to $123.00 and set an “equal weight” rating on the stock in a report on Monday, November 13th. Evercore ISI boosted their price objective on shares of Sun Communities from $128.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, November 27th. Compass Point cut their price objective on shares of Sun Communities from $125.00 to $116.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. JMP Securities reiterated a “market outperform” rating and issued a $150.00 price objective on shares of Sun Communities in a report on Wednesday, December 20th. Finally, StockNews.com assumed coverage on shares of Sun Communities in a report on Thursday, October 5th. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $142.27.

View Our Latest Research Report on SUI

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 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.

See Also

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

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