Sun Communities, Inc. (NYSE:SUI) Shares Purchased by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. boosted its holdings in Sun Communities, Inc. (NYSE:SUI) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,296 shares of the real estate investment trust’s stock after acquiring an additional 240 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Sun Communities were worth $441,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in Sun Communities by 18.8% in the third quarter. JPMorgan Chase & Co. now owns 6,567,246 shares of the real estate investment trust’s stock valued at $777,168,000 after acquiring an additional 1,040,076 shares during the last quarter. Principal Financial Group Inc. raised its position in Sun Communities by 1.9% in the third quarter. Principal Financial Group Inc. now owns 4,523,701 shares of the real estate investment trust’s stock valued at $535,331,000 after purchasing an additional 84,767 shares during the period. Daiwa Securities Group Inc. raised its position in Sun Communities by 1.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,597,775 shares of the real estate investment trust’s stock valued at $347,193,000 after purchasing an additional 31,831 shares during the period. FMR LLC raised its position in Sun Communities by 10.9% in the third quarter. FMR LLC now owns 2,406,644 shares of the real estate investment trust’s stock valued at $284,802,000 after purchasing an additional 236,771 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Sun Communities by 0.7% in the third 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 purchasing an additional 16,368 shares during the period. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Stock Performance

NYSE:SUI opened at $112.74 on Thursday. The firm has a market capitalization of $14.05 billion, a PE ratio of 97.19, a price-to-earnings-growth ratio of 1.00 and a beta of 0.83. The business’s fifty day moving average price is $126.11 and its 200 day moving average price is $125.43. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.66 and a quick ratio of 1.66. Sun Communities, Inc. has a 12 month low of $102.74 and a 12 month high of $141.52.

Sun Communities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 3.34%. 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 is 324.14%.

Insider Activity at Sun Communities

In related news, CEO Baxter Underwood sold 4,000 shares of the stock in a transaction on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Baxter Underwood sold 4,000 shares of the stock in a transaction on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Craig Leupold sold 2,500 shares of the company’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 have sold 7,000 shares of company stock valued at $912,460 over the last quarter. 1.89% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Sun Communities in a research report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 target price on the stock. Compass Point boosted their target price on Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. Barclays cut their target price on Sun Communities from $157.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. BMO Capital Markets cut their price objective 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. Finally, Truist Financial cut their price objective on Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.