Sun Communities, Inc. (NYSE:SUI) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its stake in Sun Communities, Inc. (NYSE:SUI) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,874 shares of the real estate investment trust’s stock after selling 2,931 shares during the period. State of Alaska Department of Revenue’s holdings in Sun Communities were worth $8,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of SUI. Farmers & Merchants Investments Inc. acquired a new position in Sun Communities in the first quarter valued at $26,000. Quest Partners LLC boosted its stake in Sun Communities by 12,700.0% in the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 381 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Sun Communities in the second quarter valued at $62,000. Fidelis Capital Partners LLC acquired a new position in Sun Communities in the first quarter valued at $83,000. Finally, Blue Trust Inc. boosted its stake in Sun Communities by 230.7% in the third quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $84,000 after acquiring an additional 436 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Trading Down 2.9 %

Shares of SUI opened at $133.89 on Monday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. The firm’s 50-day moving average is $135.83 and its two-hundred day moving average is $126.12. Sun Communities, Inc. has a twelve month low of $103.75 and a twelve month high of $147.83. The firm has a market capitalization of $16.69 billion, a P/E ratio of 155.69, a PEG ratio of 0.98 and a beta of 0.91.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.81%. Sun Communities’s payout ratio is currently 437.21%.

Insiders Place Their Bets

In other Sun Communities 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 transaction of $394,290.00. Following the transaction, the chief executive officer now directly owns 63,462 shares in the company, valued at approximately $8,340,810.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.89% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Truist Financial upped their price objective 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. UBS Group raised shares of Sun Communities to a “strong-buy” rating in a report on Thursday, October 10th. Wells Fargo & Company upped their target price on shares of Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. Jefferies Financial Group initiated coverage on shares of Sun Communities in a report on Thursday, October 17th. They issued a “buy” rating and a $160.00 target price for the company. Finally, StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Sun Communities has an average rating of “Moderate Buy” and an average target price of $143.91.

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.