Sun Communities, Inc. (NYSE:SUI) Shares Acquired by Choreo LLC

Choreo LLC increased its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 20.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,766 shares of the real estate investment trust’s stock after acquiring an additional 804 shares during the period. Choreo LLC’s holdings in Sun Communities were worth $641,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SUI. Lindbrook Capital LLC lifted its position in Sun Communities by 120.2% during the 3rd quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 125 shares in the last quarter. Spire Wealth Management lifted its position in Sun Communities by 102.2% during the 3rd quarter. Spire Wealth Management now owns 465 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 235 shares in the last quarter. GAMMA Investing LLC acquired a new position in Sun Communities during the 4th quarter worth approximately $80,000. Tobam raised its position in shares of Sun Communities by 64.0% in the 4th quarter. Tobam now owns 743 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 290 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC raised its position in shares of Sun Communities by 33.9% in the 3rd 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 in the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SUI has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their target price on Sun Communities from $142.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday. BMO Capital Markets cut their target price on Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, January 22nd. Compass Point boosted their price target on Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft assumed coverage on Sun Communities in a report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 price target for the company. Finally, Truist Financial lowered their price target on Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $138.92.

Sun Communities Price Performance

Shares of NYSE SUI opened at $112.74 on Thursday. Sun Communities, Inc. has a 1-year low of $102.74 and a 1-year high of $141.52. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.66 and a quick ratio of 1.66. The business’s fifty day moving average price is $126.11 and its two-hundred day moving average price is $125.43. The firm has a market capitalization of $14.05 billion, a PE ratio of 97.19, a P/E/G ratio of 1.00 and a beta of 0.83.

Sun Communities Increases Dividend

The business 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 of this dividend was Wednesday, March 27th. This is a positive change from Sun Communities’s previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a yield of 3.34%. Sun Communities’s dividend payout ratio (DPR) is currently 324.14%.

Insiders Place Their Bets

In other Sun Communities news, Director Clunet R. Lewis sold 500 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total value of $65,565.00. Following the sale, the director now directly owns 28,400 shares of the company’s stock, valued at $3,724,092. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Sun Communities news, Director Clunet R. Lewis sold 500 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total value of $65,565.00. Following the sale, the director now directly owns 28,400 shares of the company’s stock, valued at $3,724,092. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 value of $525,920.00. Following the transaction, the chief executive officer now directly 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 valued at $912,460 over the last three months. Company insiders own 1.89% of the company’s stock.

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.