Teacher Retirement System of Texas Trims Stake in Sun Communities, Inc. (NYSE:SUI)

Teacher Retirement System of Texas lessened its position in Sun Communities, Inc. (NYSE:SUIFree Report) by 53.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,583 shares of the real estate investment trust’s stock after selling 25,526 shares during the quarter. Teacher Retirement System of Texas’ holdings in Sun Communities were worth $3,018,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SUI. Principal Securities Inc. purchased a new position in shares of Sun Communities during the fourth quarter valued at approximately $172,000. Charles Schwab Investment Management Inc. grew its position in Sun Communities by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,045,403 shares of the real estate investment trust’s stock valued at $139,718,000 after acquiring an additional 31,560 shares during the last quarter. Apollon Wealth Management LLC increased its stake in Sun Communities by 5.3% in the fourth quarter. Apollon Wealth Management LLC now owns 2,936 shares of the real estate investment trust’s stock worth $392,000 after purchasing an additional 147 shares during the period. Metis Global Partners LLC lifted its position in shares of Sun Communities by 6.2% during the fourth quarter. Metis Global Partners LLC now owns 10,289 shares of the real estate investment trust’s stock worth $1,375,000 after purchasing an additional 602 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Sun Communities by 5,804.9% during the fourth quarter. National Bank of Canada FI now owns 26,336 shares of the real estate investment trust’s stock worth $3,569,000 after purchasing an additional 25,890 shares during the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SUI has been the topic of a number of research reports. Evercore ISI reduced their target price on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Barclays decreased their target price on Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. Deutsche Bank Aktiengesellschaft assumed coverage on Sun Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $129.00 price target on the stock. BMO Capital Markets dropped their target price on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, January 22nd. Finally, Truist Financial reduced their price target on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $138.92.

View Our Latest Research Report on Sun Communities

Sun Communities Trading Down 0.3 %

Sun Communities stock opened at $117.44 on Wednesday. Sun Communities, Inc. has a one year low of $102.74 and a one year high of $141.52. The stock has a market cap of $14.64 billion, a PE ratio of 101.24, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a 50-day moving average of $123.74 and a two-hundred day moving average of $126.23.

Sun Communities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.94 dividend. The ex-dividend date was Wednesday, March 27th. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. This represents a $3.76 dividend on an annualized basis and a yield of 3.20%. Sun Communities’s dividend payout ratio (DPR) is 324.14%.

Insider Buying and Selling at Sun Communities

In related news, Director Clunet R. Lewis sold 500 shares of the company’s 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 transaction, the director now directly owns 28,400 shares of the company’s stock, valued at approximately $3,724,092. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Clunet R. Lewis sold 500 shares of the company’s stock in a transaction that occurred 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 owns 28,400 shares in the company, valued at $3,724,092. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Craig Leupold sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $128.39, for a total transaction of $320,975.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,000 shares of company stock worth $912,460. 1.89% of the stock is owned by corporate insiders.

About Sun Communities

(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 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.

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

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