Sun Communities, Inc. (NYSE:SUI) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Sun Communities, Inc. (NYSE:SUI) by 39.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 90,292 shares of the real estate investment trust’s stock after acquiring an additional 25,363 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sun Communities were worth $12,068,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MetLife Investment Management LLC purchased a new position in Sun Communities during the first quarter worth about $401,000. Yousif Capital Management LLC boosted its stake in Sun Communities by 12.2% during the first quarter. Yousif Capital Management LLC now owns 6,798 shares of the real estate investment trust’s stock worth $1,192,000 after buying an additional 739 shares during the period. Raymond James Trust N.A. boosted its stake in Sun Communities by 21.1% during the first quarter. Raymond James Trust N.A. now owns 1,190 shares of the real estate investment trust’s stock worth $208,000 after buying an additional 207 shares during the period. Prudential PLC purchased a new position in Sun Communities during the first quarter worth about $385,000. Finally, Cetera Investment Advisers boosted its stake in Sun Communities by 1.9% during the first quarter. Cetera Investment Advisers now owns 3,453 shares of the real estate investment trust’s stock worth $605,000 after buying an additional 64 shares during the period. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Sun Communities news, CEO Baxter Underwood sold 4,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $8,789,700.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Craig Leupold sold 2,500 shares of Sun Communities stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total value of $320,975.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Baxter Underwood sold 4,000 shares of Sun Communities 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 transaction, the chief executive officer now owns 66,852 shares in the company, valued at $8,789,700.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,000 shares of company stock valued at $912,460. 1.89% of the stock is owned by corporate insiders.

Sun Communities Stock Down 0.2 %

Shares of Sun Communities stock opened at $117.69 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 52-week low of $102.74 and a 52-week high of $141.52. The company has a 50 day moving average of $127.89 and a 200 day moving average of $125.05. The company has a market capitalization of $14.67 billion, a P/E ratio of 103.24, a P/E/G ratio of 7.55 and a beta of 0.80.

Sun Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.94 per share. 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 3.19%. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s dividend payout ratio (DPR) is presently 329.83%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SUI. JMP Securities reaffirmed a “market outperform” rating and set a $150.00 target price on shares of Sun Communities in a research note on Wednesday, March 20th. BMO Capital Markets lowered their price objective on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, January 22nd. Truist Financial lowered their price objective on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a research note on Monday, March 18th. Barclays lowered their price objective on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Sun Communities in a research note on Tuesday, January 30th. They issued a “hold” rating and a $129.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Sun Communities presently has an average rating of “Hold” and a consensus price target of $141.17.

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.