Sun Communities, Inc. (NYSE:SUI – Get Free Report)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $113.74 and last traded at $114.4070, with a volume of 163041 shares traded. The stock had previously closed at $114.95.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on SUI shares. Truist Financial dropped their target price on Sun Communities from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Friday, September 11th. Wells Fargo & Company lowered their price objective on Sun Communities from $142.00 to $141.00 and set an “overweight” rating for the company in a research report on Monday, August 10th. Weiss Ratings lowered Sun Communities from a “hold (c)” rating to a “sell (d+)” rating in a research report on Wednesday, August 12th. Jefferies Financial Group upgraded Sun Communities to a “strong-buy” rating in a research note on Wednesday, July 22nd. Finally, Royal Bank Of Canada cut shares of Sun Communities from a “moderate buy” rating to a “hold” rating in a report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $138.92.
View Our Latest Analysis on SUI
Sun Communities Price Performance
Sun Communities Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Wednesday, September 30th. Sun Communities’s dividend payout ratio (DPR) is -63.19%.
Insider Buying and Selling at Sun Communities
In other news, Director Gary Shiffman sold 25,031 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $119.96, for a total transaction of $3,002,718.76. Following the transaction, the director directly owned 857,761 shares in the company, valued at $102,897,009.56. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.58% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Sun Communities
Institutional investors have recently added to or reduced their stakes in the business. Van Hulzen Asset Management LLC raised its stake in shares of Sun Communities by 5.9% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 6,685 shares of the real estate investment trust’s stock worth $802,000 after buying an additional 370 shares in the last quarter. National Pension Service boosted its stake in shares of Sun Communities by 164.0% in the second quarter. National Pension Service now owns 25,236 shares of the real estate investment trust’s stock valued at $3,026,000 after buying an additional 15,678 shares in the last quarter. Engineers Gate Manager LP boosted its stake in shares of Sun Communities by 5,319.8% in the second quarter. Engineers Gate Manager LP now owns 227,305 shares of the real estate investment trust’s stock valued at $27,256,000 after buying an additional 223,111 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Sun Communities during the second quarter worth $72,000. Finally, NewEdge Advisors LLC grew its holdings in Sun Communities by 377.5% during the second quarter. NewEdge Advisors LLC now owns 7,263 shares of the real estate investment trust’s stock worth $871,000 after acquiring an additional 5,742 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.
Sun Communities Company Profile
Sun Communities, Inc (NYSE:SUI) is a real estate investment trust that owns, operates and develops residential and recreational properties. Its portfolio is centered on manufactured housing communities, where residents typically lease sites for manufactured homes, as well as recreational vehicle communities and resorts that provide short-term and long-term accommodations.
The company also operates marinas, offering services that may include boat slips, storage, fueling and related amenities.
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