Bfsg LLC Lowers Position in Sun Communities, Inc. (NYSE:SUI)

Bfsg LLC lessened its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 10.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,436 shares of the real estate investment trust’s stock after selling 170 shares during the quarter. Bfsg LLC’s holdings in Sun Communities were worth $173,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Farmers & Merchants Investments Inc. bought a new position in Sun Communities in the first quarter valued at $26,000. V Square Quantitative Management LLC purchased a new position in shares of Sun Communities during the 4th quarter valued at about $32,000. Quest Partners LLC bought a new stake in Sun Communities in the 4th quarter worth approximately $51,000. 1620 Investment Advisors Inc. bought a new stake in Sun Communities in the 2nd quarter worth approximately $62,000. Finally, GAMMA Investing LLC purchased a new stake in Sun Communities in the fourth quarter worth approximately $80,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Up 0.2 %

Sun Communities stock traded up $0.33 during trading hours on Thursday, hitting $132.85. 532,916 shares of the stock traded hands, compared to its average volume of 719,295. Sun Communities, Inc. has a one year low of $102.74 and a one year high of $137.45. The company has a market cap of $16.56 billion, a PE ratio of 114.53, a PEG ratio of 0.97 and a beta of 0.88. The firm’s 50-day moving average price is $126.10 and its two-hundred day moving average price is $124.11. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.94 dividend. The ex-dividend date was Friday, June 28th. This represents a $3.76 annualized dividend and a yield of 2.83%. Sun Communities’s payout ratio is 324.14%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SUI shares. JMP Securities restated a “market outperform” rating and issued a $150.00 price objective on shares of Sun Communities in a report on Thursday, May 2nd. Evercore ISI lifted their target price on shares of Sun Communities from $143.00 to $144.00 and gave the stock an “outperform” rating in a research report on Wednesday. Royal Bank of Canada upped their price target on shares of Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Truist Financial boosted their target price on Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Finally, StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Sun Communities has a consensus rating of “Hold” and a consensus price target of $136.90.

Insider Buying and Selling

In related news, CEO Baxter Underwood sold 3,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 63,462 shares in the company, valued at approximately $8,340,810.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.