Handelsbanken Fonder AB Has $3.69 Million Position in Sun Communities, Inc. (NYSE:SUI)

Handelsbanken Fonder AB boosted its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 24.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,616 shares of the real estate investment trust’s stock after acquiring an additional 5,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Sun Communities were worth $3,691,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SUI. Lindbrook Capital LLC increased its stake in shares of Sun Communities by 120.2% in the third quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 125 shares in the last quarter. Spire Wealth Management increased its stake in shares of Sun Communities by 102.2% in the third quarter. Spire Wealth Management now owns 465 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 235 shares in the last quarter. Tobam increased its stake in shares of Sun Communities by 64.0% in the fourth quarter. Tobam now owns 743 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 290 shares in the last quarter. Sugarloaf Wealth Management LLC increased its stake in shares of Sun Communities by 33.9% in the third quarter. Sugarloaf Wealth Management LLC now owns 849 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 215 shares in the last quarter. Finally, Raymond James Trust N.A. acquired a new stake in shares of Sun Communities in the fourth quarter valued at $203,000. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Sun Communities news, Director Craig Leupold sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $128.39, for a total transaction of $320,975.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Sun Communities news, Director Craig Leupold sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $128.39, for a total transaction of $320,975.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Baxter Underwood sold 4,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $131.48, for a total value of $525,920.00. Following the transaction, the chief executive officer now owns 66,852 shares in the company, valued at approximately $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 worth $912,460. Insiders own 1.89% of the company’s stock.

Sun Communities Price Performance

Shares of SUI opened at $118.92 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.05. Sun Communities, Inc. has a 1 year low of $102.74 and a 1 year high of $141.52. The stock has a market cap of $14.82 billion, a P/E ratio of 104.32, a price-to-earnings-growth ratio of 1.08 and a beta of 0.80. The stock’s 50-day moving average price is $127.32 and its two-hundred day moving average price is $125.16.

Sun Communities Increases Dividend

The business also recently announced 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 3.16%. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s dividend payout ratio (DPR) is 329.83%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SUI shares. BMO Capital Markets lowered their target price on Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, January 22nd. JMP Securities restated a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a research note on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on Sun Communities in a research note on Tuesday, January 30th. They issued a “hold” rating and a $129.00 target price for the company. Barclays decreased their price target on Sun Communities from $157.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Finally, Truist Financial decreased their price target on Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a report on Monday, March 18th. One research 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.