Mackenzie Financial Corp Decreases Holdings in Sun Communities, Inc. (NYSE:SUI)

Mackenzie Financial Corp lowered its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 26.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,648 shares of the real estate investment trust’s stock after selling 1,334 shares during the period. Mackenzie Financial Corp’s holdings in Sun Communities were worth $488,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Sun Communities by 5.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 673,215 shares of the real estate investment trust’s stock valued at $89,975,000 after acquiring an additional 33,795 shares during the last quarter. Strs Ohio lifted its holdings in Sun Communities by 8.6% in the 4th quarter. Strs Ohio now owns 301,096 shares of the real estate investment trust’s stock valued at $40,241,000 after purchasing an additional 23,792 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in Sun Communities by 9.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,846 shares of the real estate investment trust’s stock worth $219,000 after purchasing an additional 155 shares during the last quarter. DNB Asset Management AS grew its holdings in shares of Sun Communities by 5.6% during the fourth quarter. DNB Asset Management AS now owns 17,647 shares of the real estate investment trust’s stock worth $2,359,000 after buying an additional 932 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Sun Communities by 0.7% during the fourth quarter. Arizona State Retirement System now owns 34,195 shares of the real estate investment trust’s stock worth $4,570,000 after buying an additional 253 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Wall Street Analyst Weigh In

SUI has been the topic of a number of recent research reports. BMO Capital Markets lowered their price target on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, January 22nd. Truist Financial lowered their target price on Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a report on Monday, March 18th. Barclays cut their price target on Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, January 26th. Deutsche Bank Aktiengesellschaft assumed coverage on Sun Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $129.00 price objective on the stock. Finally, Compass Point raised their target price on Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. One investment 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 stock has a consensus rating of “Hold” and an average price target of $141.17.

Insider Transactions at Sun Communities

In other news, Director Craig Leupold sold 2,500 shares of the firm’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Craig Leupold sold 2,500 shares of the firm’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 legal filing with the SEC, which is accessible through the SEC website. Also, Director Clunet R. Lewis sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total value of $65,565.00. Following the sale, the director now owns 28,400 shares of the company’s stock, valued at approximately $3,724,092. The disclosure for this sale can be found here. Insiders sold a total of 7,000 shares of company stock worth $912,460 over the last ninety days. Company insiders own 1.89% of the company’s stock.

Sun Communities Stock Up 0.1 %

Shares of SUI opened at $119.08 on Friday. The company’s 50-day moving average price is $127.11 and its 200 day moving average price is $125.17. Sun Communities, Inc. has a 12-month low of $102.74 and a 12-month high of $141.52. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.05. The firm has a market cap of $14.84 billion, a P/E ratio of 104.46, a price-to-earnings-growth ratio of 1.08 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. Stockholders of record on Friday, March 29th were issued a $0.94 dividend. 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 3.16%. The ex-dividend date of this dividend was Wednesday, March 27th. Sun Communities’s dividend payout ratio is currently 329.83%.

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.