Xponance Inc. Sells 112 Shares of Sun Communities, Inc. (NYSE:SUI)

Xponance Inc. trimmed its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,265 shares of the real estate investment trust’s stock after selling 112 shares during the period. Xponance Inc.’s holdings in Sun Communities were worth $971,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SUI. Lindbrook Capital LLC lifted its stake in Sun Communities by 120.2% in 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 period. Spire Wealth Management raised its position in shares of Sun Communities by 102.2% in the 3rd quarter. Spire Wealth Management now owns 465 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 235 shares during the period. Tobam boosted its stake in Sun Communities by 64.0% during the 4th quarter. Tobam now owns 743 shares of the real estate investment trust’s stock worth $99,000 after acquiring an additional 290 shares during the last quarter. Sugarloaf Wealth Management LLC grew its holdings in 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 purchasing an additional 215 shares during the period. Finally, Raymond James Trust N.A. bought a new stake in Sun Communities in the fourth quarter valued at approximately $203,000. 99.59% of the stock is owned by institutional investors.

Insider Buying and Selling at Sun Communities

In other news, 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 completion of the transaction, the chief executive officer now owns 66,852 shares in the company, valued at approximately $8,789,700.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 transaction, the director now directly owns 28,400 shares in the company, valued at $3,724,092. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Baxter Underwood sold 4,000 shares of the 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 completion of the sale, the chief executive officer now owns 66,852 shares of the company’s stock, valued at approximately $8,789,700.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,000 shares of company stock worth $912,460. Insiders own 1.89% of the company’s stock.

Wall Street Analyst Weigh In

SUI has been the topic of a number of recent analyst reports. JMP Securities reissued a “market outperform” rating and set a $150.00 price target on shares of Sun Communities in a research report on Tuesday. BMO Capital Markets reduced their target price on Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, January 22nd. Barclays lowered their price target on Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, January 26th. Truist Financial cut their price objective on Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a report on Monday, March 18th. Finally, Compass Point increased their target price on Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $141.17.

Sun Communities Trading Down 1.1 %

NYSE:SUI opened at $118.92 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.05. Sun Communities, Inc. has a twelve month low of $102.74 and a twelve month high of $141.52. The company has a market cap of $14.82 billion, a P/E ratio of 104.32, a price-to-earnings-growth ratio of 1.08 and a beta of 0.80. The business 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 firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.76 dividend on an annualized basis and a yield of 3.16%. This is an increase from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s dividend payout ratio (DPR) is 329.83%.

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.