1,500 Shares in Sun Communities, Inc. (NYSE:SUI) Acquired by Buckhead Capital Management LLC

Buckhead Capital Management LLC acquired a new position in shares of Sun Communities, Inc. (NYSE:SUI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,500 shares of the real estate investment trust’s stock, valued at approximately $200,000.

A number of other hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in shares of Sun Communities by 18.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,567,246 shares of the real estate investment trust’s stock worth $777,168,000 after purchasing an additional 1,040,076 shares during the period. Principal Financial Group Inc. boosted its position in shares of Sun Communities by 1.9% during the 3rd quarter. Principal Financial Group Inc. now owns 4,523,701 shares of the real estate investment trust’s stock worth $535,331,000 after purchasing an additional 84,767 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Sun Communities by 1.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,597,775 shares of the real estate investment trust’s stock worth $347,193,000 after purchasing an additional 31,831 shares during the period. FMR LLC boosted its position in Sun Communities by 10.9% in the 3rd quarter. FMR LLC now owns 2,406,644 shares of the real estate investment trust’s stock valued at $284,802,000 after buying an additional 236,771 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Sun Communities by 0.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,312,909 shares of the real estate investment trust’s stock valued at $273,710,000 after buying an additional 16,368 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Insider Activity at Sun Communities

In related news, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Craig Leupold sold 2,500 shares of the business’s 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 a total of 7,000 shares of company stock valued at $912,460 over the last ninety days. Insiders own 1.89% of the company’s stock.

Sun Communities Stock Performance

SUI traded up $1.46 on Wednesday, reaching $112.78. The company had a trading volume of 1,531,868 shares, compared to its average volume of 817,038. Sun Communities, Inc. has a 1 year low of $102.74 and a 1 year high of $141.52. The stock has a market capitalization of $14.06 billion, a PE ratio of 98.27, a P/E/G ratio of 1.08 and a beta of 0.80. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.05. The stock has a 50-day moving average price of $126.52 and a 200-day moving average price of $125.52.

Sun Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. This represents a $3.76 dividend on an annualized basis and a yield of 3.33%. Sun Communities’s payout ratio is 324.14%.

Wall Street Analysts Forecast Growth

SUI has been the subject of several recent research reports. Evercore ISI decreased their price target on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating for the company in a research report on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $150.00 price target on shares of Sun Communities in a research report on Tuesday, April 23rd. Royal Bank of Canada decreased their price target on shares of Sun Communities from $142.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday. Compass Point raised their price target 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. Finally, Barclays decreased their price target on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $138.92.

About Sun Communities

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.