Greenleaf Trust Takes Position in Sun Communities, Inc. (NYSE:SUI)

Greenleaf Trust purchased a new stake in shares of Sun Communities, Inc. (NYSE:SUI) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,763 shares of the real estate investment trust’s stock, valued at approximately $236,000.

A number of other hedge funds also recently made changes to their positions in the business. Federated Hermes Inc. raised its holdings in shares of Sun Communities by 17.2% during the fourth quarter. Federated Hermes Inc. now owns 10,304 shares of the real estate investment trust’s stock valued at $1,377,000 after buying an additional 1,513 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Sun Communities by 1.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,597,775 shares of the real estate investment trust’s stock valued at $347,193,000 after acquiring an additional 31,831 shares during the period. Avior Wealth Management LLC increased its stake in shares of Sun Communities by 10.6% during the fourth quarter. Avior Wealth Management LLC now owns 4,123 shares of the real estate investment trust’s stock valued at $551,000 after acquiring an additional 396 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Sun Communities by 39.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 90,292 shares of the real estate investment trust’s stock valued at $12,068,000 after acquiring an additional 25,363 shares during the period. Finally, Wealth Alliance acquired a new position in shares of Sun Communities during the fourth quarter valued at approximately $231,000. Institutional investors own 99.59% of the company’s stock.

Sun Communities Trading Up 0.2 %

NYSE SUI opened at $120.30 on Thursday. Sun Communities, Inc. has a twelve month low of $102.74 and a twelve month high of $141.52. 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 $14.99 billion, a price-to-earnings ratio of 105.53, a PEG ratio of 7.68 and a beta of 0.80. The firm’s 50 day moving average price is $127.51 and its two-hundred day moving average price is $125.20.

Sun Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 3.13%. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Wednesday, March 27th. Sun Communities’s payout ratio is presently 329.83%.

Insider Buying and Selling at Sun Communities

In other Sun Communities news, Director Clunet R. Lewis sold 500 shares of Sun Communities stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total transaction of $65,565.00. Following the completion of the sale, the director now owns 28,400 shares of the company’s stock, valued at approximately $3,724,092. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Sun Communities news, Director Clunet R. Lewis sold 500 shares of Sun Communities stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total transaction of $65,565.00. Following the completion of the sale, the director now owns 28,400 shares of the company’s stock, valued at approximately $3,724,092. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $320,975.00. The disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock valued at $912,460 in the last quarter. Company insiders own 1.89% of the company’s stock.

Analyst Upgrades and Downgrades

SUI has been the topic of a number of research analyst reports. Compass Point raised their price objective on shares of Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. BMO Capital Markets lowered their price objective on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, January 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Sun Communities in a research report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 price target on the stock. JMP Securities restated a “market outperform” rating and issued a $150.00 price target on shares of Sun Communities in a research report on Tuesday. Finally, Barclays decreased their price target on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $141.17.

Sun Communities 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.