Cwm LLC Grows Position in Sun Communities, Inc. (NYSE:SUI)

Cwm LLC raised its position in Sun Communities, Inc. (NYSE:SUI) by 60.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,590 shares of the real estate investment trust’s stock after purchasing an additional 598 shares during the quarter. Cwm LLC’s holdings in Sun Communities were worth $213,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SUI. Lindbrook Capital LLC boosted its stake in shares of Sun Communities by 120.2% during the third quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 125 shares during the period. Spire Wealth Management increased its position in shares of Sun Communities by 102.2% during the third quarter. Spire Wealth Management now owns 465 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 235 shares during the period. Tobam increased its position in shares of Sun Communities by 64.0% during the fourth quarter. Tobam now owns 743 shares of the real estate investment trust’s stock worth $99,000 after acquiring an additional 290 shares during the period. Sugarloaf Wealth Management LLC raised its stake in shares of Sun Communities by 33.9% during the third quarter. Sugarloaf Wealth Management LLC now owns 849 shares of the real estate investment trust’s stock valued at $100,000 after acquiring an additional 215 shares in the last quarter. Finally, Raymond James Trust N.A. purchased a new stake in shares of Sun Communities in the fourth quarter valued at approximately $203,000. Institutional investors own 99.59% of the company’s stock.

Insider Transactions at Sun Communities

In related news, CEO Baxter Underwood sold 4,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total value of $525,920.00. Following the transaction, the chief executive officer now directly owns 66,852 shares in the company, valued at $8,789,700.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Clunet R. Lewis sold 500 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total value of $65,565.00. Following the completion of the sale, the director now owns 28,400 shares in the company, valued at $3,724,092. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Baxter Underwood sold 4,000 shares of the business’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 of the company’s stock, valued at $8,789,700.96. The disclosure for this sale can be found here. Insiders sold a total of 7,000 shares of company stock worth $912,460 in the last quarter. 1.89% of the stock is owned by company insiders.

Sun Communities Stock Up 0.6 %

NYSE SUI opened at $117.30 on Friday. The stock has a market capitalization of $14.62 billion, a P/E ratio of 101.12, a price-to-earnings-growth ratio of 1.04 and a beta of 0.83. Sun Communities, Inc. has a 52 week low of $102.74 and a 52 week 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 fifty day moving average of $125.54 and a 200-day moving average of $125.60.

Sun Communities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s dividend payout ratio (DPR) is 324.14%.

Analysts Set New Price Targets

A number of research firms recently weighed in on SUI. BMO Capital Markets decreased their target price on Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, January 22nd. Barclays cut their target price on Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. Evercore ISI lowered their price target on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a report on Wednesday. JMP Securities restated a “market outperform” rating and issued a $150.00 price objective on shares of Sun Communities in a research note on Thursday. Finally, Compass Point lifted their target price on shares of Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Sun Communities presently has a consensus rating of “Hold” and an average price target of $138.92.

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.