Yousif Capital Management LLC Buys 105 Shares of Sun Communities, Inc. (NYSE:SUI)

Yousif Capital Management LLC raised its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 1.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,236 shares of the real estate investment trust’s stock after buying an additional 105 shares during the quarter. Yousif Capital Management LLC’s holdings in Sun Communities were worth $833,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SUI. PGGM Investments purchased a new stake in Sun Communities in the 3rd quarter worth approximately $130,082,000. JPMorgan Chase & Co. grew its holdings in shares of Sun Communities by 18.8% during the third quarter. JPMorgan Chase & Co. now owns 6,567,246 shares of the real estate investment trust’s stock worth $777,168,000 after purchasing an additional 1,040,076 shares in the last quarter. Resolution Capital Ltd bought a new position in shares of Sun Communities in the third quarter worth approximately $104,406,000. Rush Island Management LP purchased a new stake in Sun Communities in the third quarter valued at approximately $65,134,000. Finally, Ceredex Value Advisors LLC bought a new stake in Sun Communities during the fourth quarter valued at approximately $37,775,000. 99.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Baxter Underwood sold 4,000 shares of the business’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 approximately $8,789,700.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Craig Leupold sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total value of $320,975.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $8,789,700.96. The disclosure for this sale can be found here. Insiders have sold a total of 7,000 shares of company stock valued at $912,460 over the last ninety days. Company insiders own 1.89% of the company’s stock.

Sun Communities Stock Performance

Sun Communities stock opened at $117.30 on Friday. Sun Communities, Inc. has a fifty-two week low of $102.74 and a fifty-two week high of $141.52. The stock’s 50 day simple moving average is $125.54 and its two-hundred day simple moving average is $125.60. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a market cap of $14.62 billion, a price-to-earnings ratio of 101.12, a PEG ratio of 1.05 and a beta of 0.83.

Sun Communities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.94 per share. The ex-dividend date 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 dividend yield of 3.21%. Sun Communities’s payout ratio is currently 324.14%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Truist Financial dropped their price objective 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. Royal Bank of Canada reduced their price target on shares of Sun Communities from $142.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on Sun Communities in a report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 price objective on the stock. BMO Capital Markets dropped their target price on Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 price target on shares of Sun Communities in a research note on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $138.92.

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.