Cerity Partners LLC Acquires Shares of 3,696 Sun Communities, Inc. (NYSE:SUI)

Cerity Partners LLC acquired a new stake in Sun Communities, Inc. (NYSE:SUI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,696 shares of the real estate investment trust’s stock, valued at approximately $494,000.

Other large investors have also recently made changes to their positions in the company. Lindbrook Capital LLC lifted its stake in shares of Sun Communities by 120.2% in the third quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 125 shares in the last quarter. Spire Wealth Management lifted its stake in shares of 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 buying an additional 235 shares in the last quarter. Tobam raised its holdings in shares of Sun Communities by 64.0% in the fourth quarter. Tobam now owns 743 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 290 shares during the last quarter. Sugarloaf Wealth Management LLC raised its holdings in shares of Sun Communities by 33.9% in the third quarter. Sugarloaf Wealth Management LLC now owns 849 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 215 shares during the last quarter. Finally, Raymond James Trust N.A. purchased a new stake in shares of Sun Communities in the fourth quarter valued at about $203,000. 99.59% of the stock is owned by institutional investors.

Sun Communities Stock Performance

NYSE SUI opened at $120.30 on Thursday. The company’s 50 day moving average is $127.51 and its 200-day moving average is $125.20. Sun Communities, Inc. has a 12-month low of $102.74 and a 12-month high of $141.52. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.05. The firm has a market cap of $14.99 billion, a P/E ratio of 105.53, a price-to-earnings-growth ratio of 7.57 and a beta of 0.80.

Sun Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors 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 yield of 3.13%. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s payout ratio is currently 329.83%.

Insider Activity at Sun Communities

In related news, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction of $525,920.00. Following the completion of the transaction, the chief executive officer now owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction of $525,920.00. Following the completion of the transaction, the chief executive officer now owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Craig Leupold sold 2,500 shares of the business’s stock in a transaction that occurred 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 sold 7,000 shares of company stock valued at $912,460. Corporate insiders own 1.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SUI shares. BMO Capital Markets lowered their target price on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Sun Communities in a report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 target price for the company. Truist Financial lowered their target price on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a report on Monday, March 18th. JMP Securities reiterated a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a report on Tuesday. Finally, Barclays decreased their price objective on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $141.17.

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.