IFM Investors Pty Ltd Increases Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

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

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. purchased a new position in shares of Sun Communities during the 1st quarter worth $26,000. Lindbrook Capital LLC boosted its stake in Sun Communities by 120.2% during the third quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 125 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Sun Communities during the fourth quarter valued at about $32,000. Quest Partners LLC purchased a new stake in shares of Sun Communities in the 4th quarter valued at approximately $51,000. Finally, Spire Wealth Management lifted its holdings in shares of Sun Communities by 102.2% in the 3rd quarter. Spire Wealth Management now owns 465 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 235 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Stock Performance

SUI traded up $0.16 during trading on Friday, hitting $119.08. 394,605 shares of the stock were exchanged, compared to its average volume of 518,050. The firm has a market capitalization of $14.84 billion, a P/E ratio of 104.46, a PEG ratio of 1.06 and a beta of 0.80. Sun Communities, Inc. has a 1-year low of $102.74 and a 1-year high of $141.52. The stock has a fifty day moving average price of $127.11 and a two-hundred day moving average price of $125.17. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.05.

Sun Communities Increases Dividend

The firm also recently announced 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. This is an increase from Sun Communities’s previous quarterly dividend of $0.93. The ex-dividend date was Wednesday, March 27th. This represents a $3.76 annualized dividend and a dividend yield of 3.16%. Sun Communities’s dividend payout ratio is 329.83%.

Insider Buying and Selling

In other news, Director Craig Leupold sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $128.39, for a total value of $320,975.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Craig Leupold sold 2,500 shares of Sun Communities 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 SEC, which is available at this hyperlink. Also, Director Clunet R. Lewis sold 500 shares of the business’s 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 owns 28,400 shares in the company, valued at $3,724,092. The disclosure for this sale can be found here. Insiders have sold a total of 7,000 shares of company stock valued at $912,460 over the last quarter. 1.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. 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 note on Monday, March 18th. JMP Securities reissued a “market outperform” rating and issued a $150.00 price objective on shares of Sun Communities in a research note on Tuesday. Compass Point upped their target price 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. BMO Capital Markets reduced their target price on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, January 22nd. Finally, Barclays dropped their price target 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Sun Communities currently has a consensus rating of “Hold” and a consensus target price 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.