Creative Planning Raises Stock Position in Sun Communities, Inc. (NYSE:SUI)

Creative Planning lifted its position in shares of Sun Communities, Inc. (NYSE:SUI) by 56.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 9,491 shares of the real estate investment trust’s stock after buying an additional 3,439 shares during the period. Creative Planning’s holdings in Sun Communities were worth $1,283,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SUI. Quest Partners LLC raised its holdings in Sun Communities by 12,700.0% during the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 381 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Sun Communities in the 2nd quarter worth about $62,000. Fidelis Capital Partners LLC acquired a new stake in Sun Communities in the 1st quarter valued at about $83,000. Crewe Advisors LLC purchased a new position in Sun Communities during the 1st quarter valued at about $90,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Sun Communities by 600.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 700 shares of the real estate investment trust’s stock valued at $95,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Insider Transactions at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 63,462 shares of the company’s stock, valued at approximately $8,340,810.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.89% of the company’s stock.

Sun Communities Price Performance

SUI opened at $132.89 on Thursday. Sun Communities, Inc. has a 1 year low of $108.87 and a 1 year high of $147.83. The company’s 50 day simple moving average is $135.83 and its 200 day simple moving average is $126.32. The stock has a market capitalization of $16.57 billion, a PE ratio of 114.56, a P/E/G ratio of 0.98 and a beta of 0.91. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.42 and a current ratio of 1.42.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 annualized dividend and a dividend yield of 2.83%. Sun Communities’s dividend payout ratio is presently 324.14%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SUI shares. StockNews.com lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Evercore ISI increased their target price on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Jefferies Financial Group started coverage on Sun Communities in a research report on Thursday, October 17th. They set a “buy” rating and a $160.00 price target for the company. Robert W. Baird upped their price objective on Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Finally, UBS Group upgraded Sun Communities to a “strong-buy” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $143.91.

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.