Sun Communities (NYSE:SUI) Sets New 52-Week High at $141.83

Sun Communities, Inc. (NYSE:SUI) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $141.83 and last traded at $141.11, with a volume of 520602 shares. The stock had previously closed at $140.00.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SUI shares. Truist Financial raised their target price on shares of Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Royal Bank of Canada increased their target price on Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Robert W. Baird lifted their price target on Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Finally, Evercore ISI increased their price objective on Sun Communities from $143.00 to $144.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. One investment 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $137.64.

Sun Communities Trading Up 1.0 %

The business has a 50-day moving average price of $128.63 and a 200-day moving average price of $124.44. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $17.62 billion, a P/E ratio of 121.81, a PEG ratio of 1.03 and a beta of 0.91.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.66%. The ex-dividend date is Monday, September 30th. Sun Communities’s dividend payout ratio (DPR) is presently 324.14%.

Insider Transactions at Sun Communities

In related news, CEO Baxter Underwood sold 3,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $131.43, for a total value of $394,290.00. Following the sale, the chief executive officer now owns 63,462 shares of the company’s stock, valued at $8,340,810.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.89% of the stock is owned by insiders.

Institutional Trading of Sun Communities

A number of large investors have recently bought and sold shares of SUI. National Bank of Canada FI grew its holdings in shares of Sun Communities by 5,804.9% in the 4th quarter. National Bank of Canada FI now owns 26,336 shares of the real estate investment trust’s stock worth $3,569,000 after purchasing an additional 25,890 shares during the last quarter. Apollon Wealth Management LLC increased its holdings in shares of Sun Communities by 5.3% during the fourth quarter. Apollon Wealth Management LLC now owns 2,936 shares of the real estate investment trust’s stock worth $392,000 after buying an additional 147 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Sun Communities in the fourth quarter valued at approximately $172,000. BNP Paribas Financial Markets boosted its holdings in shares of Sun Communities by 1,143.0% in the 4th quarter. BNP Paribas Financial Markets now owns 114,173 shares of the real estate investment trust’s stock worth $15,259,000 after acquiring an additional 104,988 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Sun Communities by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,782,006 shares of the real estate investment trust’s stock worth $238,170,000 after acquiring an additional 5,031 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors.

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.