Inspire Investing LLC Acquires 1,208 Shares of Sun Communities, Inc. (NYSE:SUI)

Inspire Investing LLC boosted its holdings in Sun Communities, Inc. (NYSE:SUI) by 9.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,624 shares of the real estate investment trust’s stock after acquiring an additional 1,208 shares during the quarter. Inspire Investing LLC’s holdings in Sun Communities were worth $1,976,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SUI. Price T Rowe Associates Inc. MD grew its holdings in shares of Sun Communities by 50.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust’s stock worth $424,677,000 after purchasing an additional 1,105,306 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Sun Communities by 3.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust’s stock valued at $354,986,000 after purchasing an additional 111,569 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Sun Communities by 24.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock worth $264,253,000 after buying an additional 424,842 shares in the last quarter. Centersquare Investment Management LLC increased its holdings in shares of Sun Communities by 4.7% in the 1st quarter. Centersquare Investment Management LLC now owns 2,171,868 shares of the real estate investment trust’s stock worth $279,259,000 after buying an additional 96,529 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Sun Communities by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,784,547 shares of the real estate investment trust’s stock valued at $214,752,000 after buying an additional 10,592 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Trading Up 0.7 %

NYSE:SUI opened at $129.80 on Monday. The firm has a market capitalization of $16.18 billion, a P/E ratio of 111.90, a P/E/G ratio of 0.94 and a beta of 0.91. 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 company has a fifty day moving average of $134.84 and a 200 day moving average of $125.42. Sun Communities, Inc. has a 52 week low of $102.74 and a 52 week high of $147.83.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.90%. Sun Communities’s dividend payout ratio is currently 324.14%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. Robert W. Baird upped their price objective on Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. UBS Group raised Sun Communities to a “strong-buy” rating in a report on Thursday. Truist Financial upped their target price on Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Finally, Evercore ISI downgraded shares of Sun Communities from an “outperform” rating to an “inline” rating and lifted their price target for the stock from $144.00 to $149.00 in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Sun Communities currently has an average rating of “Moderate Buy” and a consensus target price of $142.20.

Insider Buying and Selling

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $131.43, for a total transaction of $394,290.00. Following the completion of the transaction, the chief executive officer now owns 63,462 shares of the company’s stock, valued at $8,340,810.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.89% of the stock is owned by insiders.

Sun Communities Company 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.