Toroso Investments LLC lifted its position in shares of Sun Communities, Inc. (NYSE:SUI – Get Rating) by 8.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 7,279 shares of the real estate investment trust’s stock after acquiring an additional 556 shares during the period. Toroso Investments LLC’s holdings in Sun Communities were worth $985,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Advisors Asset Management Inc. increased its stake in shares of Sun Communities by 7.6% in the third quarter. Advisors Asset Management Inc. now owns 8,215 shares of the real estate investment trust’s stock valued at $1,112,000 after purchasing an additional 577 shares during the period. Natixis Advisors L.P. increased its position in Sun Communities by 8.3% in the 2nd quarter. Natixis Advisors L.P. now owns 134,604 shares of the real estate investment trust’s stock valued at $21,450,000 after acquiring an additional 10,345 shares during the period. Ethic Inc. raised its stake in Sun Communities by 30.8% during the 3rd quarter. Ethic Inc. now owns 3,268 shares of the real estate investment trust’s stock valued at $442,000 after acquiring an additional 770 shares in the last quarter. Apollon Wealth Management LLC boosted its position in Sun Communities by 6.4% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,629 shares of the real estate investment trust’s stock worth $356,000 after acquiring an additional 157 shares during the period. Finally, Capital Square LLC grew its stake in shares of Sun Communities by 31.5% in the third quarter. Capital Square LLC now owns 8,577 shares of the real estate investment trust’s stock worth $1,160,000 after purchasing an additional 2,055 shares in the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.
Insider Transactions at Sun Communities
In related news, Director Clunet R. Lewis sold 1,500 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $148.51, for a total value of $222,765.00. Following the completion of the transaction, the director now owns 26,900 shares in the company, valued at approximately $3,994,919. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.25% of the stock is owned by insiders.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. Truist Financial upped their price objective on shares of Sun Communities from $147.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 30th. JMP Securities reiterated a “market outperform” rating and issued a $160.00 price objective on shares of Sun Communities in a report on Wednesday, March 8th. Finally, Robert W. Baird dropped their target price on Sun Communities from $175.00 to $169.00 in a report on Friday, November 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sun Communities has a consensus rating of “Moderate Buy” and a consensus price target of $168.86.
Sun Communities Trading Down 1.1 %
Shares of NYSE:SUI opened at $134.14 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.11 and a current ratio of 2.11. The stock has a market capitalization of $16.69 billion, a price-to-earnings ratio of 67.75, a PEG ratio of 2.84 and a beta of 0.70. Sun Communities, Inc. has a 1-year low of $117.63 and a 1-year high of $193.67. The company has a 50 day moving average price of $149.10 and a 200 day moving average price of $143.35.
Sun Communities Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, March 30th. This is a positive change from Sun Communities’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a dividend yield of 2.77%. Sun Communities’s dividend payout ratio (DPR) is currently 177.78%.
Sun Communities Company Profile
Sun Communities, Inc provides real estate management services. The firm operates through the following segments: Manufactured Home Communities, Recreational Vehicle, and Marina. The Manufactured Home Communities segment owns, operates, and develops manufactured housing communities and is in the business of acquiring, operating, and developing ground up communities to provide housing solutions.
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