Handelsbanken Fonder AB Has $3.69 Million Stock Position in Sun Communities, Inc. (NYSE:SUI)

Handelsbanken Fonder AB lifted its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 24.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,616 shares of the real estate investment trust’s stock after purchasing an additional 5,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Sun Communities were worth $3,691,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Sun Communities by 5.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 673,215 shares of the real estate investment trust’s stock worth $89,975,000 after purchasing an additional 33,795 shares in the last quarter. Strs Ohio grew its holdings in shares of Sun Communities by 8.6% during the 4th quarter. Strs Ohio now owns 301,096 shares of the real estate investment trust’s stock worth $40,241,000 after purchasing an additional 23,792 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Sun Communities by 9.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,846 shares of the real estate investment trust’s stock worth $219,000 after purchasing an additional 155 shares in the last quarter. DNB Asset Management AS grew its holdings in shares of Sun Communities by 5.6% during the 4th quarter. DNB Asset Management AS now owns 17,647 shares of the real estate investment trust’s stock worth $2,359,000 after purchasing an additional 932 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Sun Communities by 0.7% during the 4th quarter. Arizona State Retirement System now owns 34,195 shares of the real estate investment trust’s stock worth $4,570,000 after buying an additional 253 shares during the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 4,000 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $131.48, for a total value of $525,920.00. Following the completion of the transaction, the chief executive officer now directly owns 66,852 shares in the company, valued at $8,789,700.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Craig Leupold sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $128.39, for a total transaction of $320,975.00. The sale was disclosed in a 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 dated Friday, March 22nd. The stock was sold at an average price of $131.48, for a total value of $525,920.00. Following the transaction, the chief executive officer now owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,000 shares of company stock worth $912,460. 1.89% of the stock is currently owned by insiders.

Sun Communities Price Performance

Sun Communities stock opened at $118.92 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. The company has a market capitalization of $14.82 billion, a PE ratio of 104.32, a P/E/G ratio of 1.08 and a beta of 0.80. Sun Communities, Inc. has a 12 month low of $102.74 and a 12 month high of $141.52. The stock has a 50-day moving average price of $127.32 and a two-hundred day moving average price of $125.16.

Sun Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a $0.94 dividend. The ex-dividend date was Wednesday, March 27th. This is an increase from Sun Communities’s previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a yield of 3.16%. Sun Communities’s dividend payout ratio (DPR) is currently 329.83%.

Analyst Upgrades and Downgrades

SUI has been the subject of several recent analyst reports. BMO Capital Markets dropped their price objective 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. Truist Financial dropped their price objective on Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a research report on Monday, March 18th. Compass Point upped their price objective on Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. JMP Securities restated a “market outperform” rating and set a $150.00 price objective on shares of Sun Communities in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Sun Communities in a research report on Tuesday, January 30th. They set a “hold” rating and a $129.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Sun Communities has an average rating of “Hold” and a consensus price target of $141.17.

Sun Communities 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.