International Assets Investment Management LLC Increases Position in Sun Communities, Inc. (NYSE:SUI)

International Assets Investment Management LLC grew its position in shares of Sun Communities, Inc. (NYSE:SUI) by 10,803.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,573 shares of the real estate investment trust’s stock after buying an additional 16,421 shares during the quarter. International Assets Investment Management LLC’s holdings in Sun Communities were worth $2,215,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in SUI. Lindbrook Capital LLC grew its holdings in shares of Sun Communities by 120.2% during the third quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 125 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Sun Communities during the second quarter valued at approximately $27,000. Spire Wealth Management grew its holdings in shares of Sun Communities by 102.2% during the third quarter. Spire Wealth Management now owns 465 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 235 shares during the last quarter. Sugarloaf Wealth Management LLC grew its holdings in shares of Sun Communities by 33.9% during the third quarter. Sugarloaf Wealth Management LLC now owns 849 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 215 shares during the last quarter. Finally, First Manhattan CO. LLC. grew its holdings in shares of 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 buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Sun Communities in a research report on Tuesday, January 30th. They set a “hold” rating and a $129.00 price objective on the stock. Compass Point increased their price objective on shares of Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. BMO Capital Markets lowered their price objective on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, January 22nd. JMP Securities restated a “market outperform” rating and set a $150.00 price objective on shares of Sun Communities in a research report on Wednesday, March 20th. Finally, Truist Financial lowered their price objective on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $141.17.

Insider Activity

In other news, Director Clunet R. Lewis sold 500 shares of the firm’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 can be accessed through the SEC website. In other news, Director Clunet R. Lewis sold 500 shares of the firm’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 can be accessed through the SEC website. Also, CEO Baxter Underwood sold 4,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction of $525,920.00. Following the sale, the chief executive officer now owns 66,852 shares in the company, valued at $8,789,700.96. The disclosure for this sale can be found here. Insiders have sold 7,000 shares of company stock worth $912,460 in the last three months. Company insiders own 1.89% of the company’s stock.

Sun Communities Stock Down 0.2 %

SUI opened at $117.69 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.05. Sun Communities, Inc. has a 1-year low of $102.74 and a 1-year high of $141.52. The company has a market capitalization of $14.67 billion, a PE ratio of 103.24, a PEG ratio of 7.57 and a beta of 0.80. The firm’s 50 day simple moving average is $127.89 and its two-hundred day simple moving average is $125.05.

Sun Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.19%. This is an increase from Sun Communities’s previous quarterly dividend of $0.93. The ex-dividend date was Wednesday, March 27th. Sun Communities’s dividend payout ratio (DPR) is presently 329.83%.

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.