Sun Communities, Inc. (NYSE:SUI) Shares Sold by Poplar Forest Capital LLC

Poplar Forest Capital LLC lowered its holdings in Sun Communities, Inc. (NYSE:SUI) by 22.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 95,026 shares of the real estate investment trust’s stock after selling 27,040 shares during the period. Sun Communities comprises 1.7% of Poplar Forest Capital LLC’s portfolio, making the stock its 27th largest position. Poplar Forest Capital LLC’s holdings in Sun Communities were worth $12,843,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Harvest Portfolios Group Inc. boosted its holdings in Sun Communities by 16.5% in the third quarter. Harvest Portfolios Group Inc. now owns 32,806 shares of the real estate investment trust’s stock valued at $4,434,000 after purchasing an additional 4,639 shares during the last quarter. Global Wealth Management Investment Advisory Inc. boosted its holdings in Sun Communities by 12.3% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 4,189 shares of the real estate investment trust’s stock valued at $566,000 after purchasing an additional 458 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Sun Communities by 10.8% in the third quarter. Van ECK Associates Corp now owns 56,904 shares of the real estate investment trust’s stock valued at $7,913,000 after purchasing an additional 5,547 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Sun Communities by 89.1% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 236 shares during the last quarter. Finally, First Trust Direct Indexing L.P. bought a new position in Sun Communities during the 3rd quarter worth approximately $235,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Down 1.0 %

SUI opened at $131.83 on Thursday. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market cap of $16.44 billion, a P/E ratio of 153.29, a P/E/G ratio of 0.95 and a beta of 0.91. The stock’s 50 day moving average price is $135.71 and its 200 day moving average price is $126.78.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.85%. The ex-dividend date was Monday, September 30th. Sun Communities’s dividend payout ratio is currently 437.21%.

Wall Street Analyst Weigh In

A number of research firms have commented on SUI. UBS Group raised Sun Communities to a “strong-buy” rating in a report on Thursday, October 10th. Wells Fargo & Company increased their target price on Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a report on Thursday, September 19th. Jefferies Financial Group began coverage on Sun Communities in a report on Thursday, October 17th. They set a “buy” rating and a $160.00 target price on the stock. StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a report on Friday, October 18th. Finally, Evercore ISI increased their target price on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $142.18.

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.