IFM Investors Pty Ltd Has $3.14 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

IFM Investors Pty Ltd increased its holdings in Sun Communities, Inc. (NYSE:SUI) by 7.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,401 shares of the real estate investment trust’s stock after buying an additional 1,757 shares during the period. IFM Investors Pty Ltd’s holdings in Sun Communities were worth $3,137,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Farmers & Merchants Investments Inc. acquired a new stake in Sun Communities during the first quarter worth about $26,000. Lindbrook Capital LLC lifted its holdings in shares of Sun Communities by 120.2% during the 3rd quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 125 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Sun Communities during the 4th quarter worth approximately $32,000. Quest Partners LLC acquired a new stake in shares of Sun Communities during the 4th quarter worth approximately $51,000. Finally, Spire Wealth Management increased its stake in Sun Communities by 102.2% in the third quarter. Spire Wealth Management now owns 465 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 235 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors.

Insider Transactions at Sun Communities

In other Sun Communities news, Director Clunet R. Lewis sold 500 shares of Sun Communities stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total transaction of $65,565.00. Following the transaction, the director now directly owns 28,400 shares of the company’s stock, valued at approximately $3,724,092. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Clunet R. Lewis sold 500 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total transaction of $65,565.00. Following the completion of the sale, the director now directly owns 28,400 shares in the company, valued at $3,724,092. The transaction was disclosed in a filing with the SEC, which is available at this link. 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. Over the last 90 days, insiders have sold 7,000 shares of company stock worth $912,460. Company insiders own 1.89% of the company’s stock.

Wall Street Analyst Weigh In

SUI has been the subject of several recent analyst reports. BMO Capital Markets cut their target price on Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, January 22nd. Compass Point raised their price objective on Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Truist Financial decreased their target price 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. JMP Securities reissued a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Sun Communities in a research note on Tuesday, January 30th. They issued a “hold” rating and a $129.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $141.17.

Sun Communities Trading Up 0.1 %

NYSE SUI traded up $0.16 during trading hours on Friday, reaching $119.08. The company’s stock had a trading volume of 394,605 shares, compared to its average volume of 518,050. The firm has a fifty day simple moving average of $127.11 and a 200-day simple moving average of $125.17. 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 52 week low of $102.74 and a 52 week high of $141.52. The stock has a market cap of $14.84 billion, a P/E ratio of 104.46, a P/E/G ratio of 1.06 and a beta of 0.80.

Sun Communities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a dividend of $0.94 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.76 annualized dividend and a dividend yield of 3.16%. This is an increase from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s dividend payout ratio (DPR) is presently 329.83%.

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.