Aew Capital Management L P Reduces Holdings in Sun Communities, Inc. (NYSE:SUI)

Aew Capital Management L P trimmed its position in shares of Sun Communities, Inc. (NYSE:SUI) by 16.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 658,089 shares of the real estate investment trust’s stock after selling 133,498 shares during the quarter. Sun Communities accounts for approximately 3.2% of Aew Capital Management L P’s investment portfolio, making the stock its 11th largest position. Aew Capital Management L P’s holdings in Sun Communities were worth $87,954,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Lindbrook Capital LLC boosted its stake in shares of Sun Communities by 120.2% during the third quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 125 shares during the period. Spire Wealth Management boosted its stake in shares of Sun Communities by 102.2% during the third quarter. Spire Wealth Management now owns 465 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 235 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Sun Communities during the fourth quarter valued at $80,000. Tobam boosted its stake in shares of Sun Communities by 64.0% during 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 period. Finally, Sugarloaf Wealth Management LLC boosted its stake in shares of Sun Communities by 33.9% during 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 period. 99.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Sun Communities news, Director Craig Leupold sold 2,500 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $128.39, for a total value of $320,975.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Baxter Underwood sold 4,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction of $525,920.00. Following the transaction, the chief executive officer now owns 66,852 shares in the company, valued at $8,789,700.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Craig Leupold sold 2,500 shares of the company’s stock in a transaction dated 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 ninety days, insiders sold 7,000 shares of company stock worth $912,460. 1.89% of the stock is owned by corporate insiders.

Sun Communities Stock Up 0.1 %

Sun Communities stock traded up $0.16 during trading hours on Friday, reaching $119.08. The stock had a trading volume of 394,563 shares, compared to its average volume of 791,803. The company has a market cap of $14.84 billion, a price-to-earnings ratio of 104.46, a PEG ratio of 1.08 and a beta of 0.80. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.66 and a quick ratio of 1.66. The business’s 50 day moving average price is $127.11 and its 200-day moving average price is $125.17. Sun Communities, Inc. has a 52 week low of $102.74 and a 52 week high of $141.52.

Sun Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a $0.94 dividend. The ex-dividend date was Wednesday, March 27th. This is an increase from Sun Communities’s previous quarterly dividend of $0.93. This represents a $3.76 dividend on an annualized basis and a yield of 3.16%. Sun Communities’s payout ratio is currently 329.83%.

Analyst Ratings Changes

A number of analysts have recently issued reports on SUI shares. 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 research note on Monday, March 18th. Barclays lowered their price objective on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 price objective on shares of Sun Communities in a research note on Tuesday. BMO Capital Markets lowered their price objective on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, January 22nd. Finally, Compass Point upped their price objective on shares of Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $141.17.

About Sun Communities

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.