Sun Communities, Inc. (NYSE:SUI) Shares Sold by Burns Matteson Capital Management LLC

Burns Matteson Capital Management LLC cut its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,411 shares of the real estate investment trust’s stock after selling 581 shares during the period. Burns Matteson Capital Management LLC’s holdings in Sun Communities were worth $1,403,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SUI. Assetmark Inc. lifted its position in shares of Sun Communities by 2,111.1% in the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. Brooklyn Investment Group purchased a new position in Sun Communities in the third quarter valued at about $41,000. CKW Financial Group increased its position in Sun Communities by 45.0% in the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 135 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Sun Communities during the 3rd quarter worth about $60,000. Finally, Farther Finance Advisors LLC raised its position in Sun Communities by 89.1% during the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after acquiring an additional 236 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Stock Performance

Shares of NYSE:SUI opened at $125.27 on Monday. The business’s fifty day moving average price is $124.35 and its two-hundred day moving average price is $129.61. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The stock has a market capitalization of $15.96 billion, a price-to-earnings ratio of 67.35 and a beta of 0.90.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities’s payout ratio is presently 202.15%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SUI shares. Bank of America cut shares of Sun Communities from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $147.00 to $114.00 in a report on Tuesday, November 12th. BMO Capital Markets dropped their price target on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company lowered their target price on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Baird R W cut Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $145.00 to $126.00 in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Sun Communities presently has an average rating of “Hold” and an average target price of $134.55.

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.