Sun Communities, Inc. (NYSE:SUI) Shares Acquired by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc grew its holdings in Sun Communities, Inc. (NYSE:SUI) by 92.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 43,745 shares of the real estate investment trust’s stock after acquiring an additional 20,975 shares during the quarter. Sun Communities accounts for approximately 1.0% of K.J. Harrison & Partners Inc’s holdings, making the stock its 27th largest holding. K.J. Harrison & Partners Inc’s holdings in Sun Communities were worth $5,847,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SUI. Lindbrook Capital LLC lifted its holdings 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 worth $27,000 after purchasing an additional 125 shares during the period. Spire Wealth Management lifted its holdings 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 worth $55,000 after purchasing an additional 235 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Sun Communities during the fourth quarter worth about $80,000. Tobam lifted its holdings 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 worth $99,000 after purchasing an additional 290 shares during the period. Finally, Sugarloaf Wealth Management LLC lifted its holdings 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 worth $100,000 after purchasing an additional 215 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SUI. Truist Financial reduced their price target on Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a research report on Monday, March 18th. Compass Point lifted their price target on Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft began coverage on Sun Communities in a research report on Tuesday, January 30th. They set a “hold” rating and a $129.00 price target for the company. JMP Securities reiterated a “market outperform” rating and set a $150.00 price target on shares of Sun Communities in a research report on Tuesday. Finally, BMO Capital Markets reduced their price target on Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $141.17.

Sun Communities Price Performance

Shares of SUI traded up $0.16 during trading hours on Friday, hitting $119.08. 394,563 shares of the stock were exchanged, compared to its average volume of 791,803. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.66 and a current ratio of 1.66. Sun Communities, Inc. has a 12-month low of $102.74 and a 12-month high of $141.52. The company has a market cap of $14.84 billion, a price-to-earnings ratio of 104.46, a price-to-earnings-growth ratio of 1.08 and a beta of 0.80. The stock’s 50-day moving average price is $127.11 and its two-hundred day moving average price is $125.17.

Sun Communities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.16%. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Wednesday, March 27th. Sun Communities’s payout ratio is presently 329.83%.

Insider Buying and Selling

In related news, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $131.48, for a total transaction of $525,920.00. Following the completion of the sale, the chief executive officer now directly owns 66,852 shares in the company, valued at $8,789,700.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sun Communities news, Director Clunet R. Lewis sold 500 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $3,724,092. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $131.48, for a total value of $525,920.00. Following the transaction, the chief executive officer now directly owns 66,852 shares in the company, valued at approximately $8,789,700.96. 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 Profile

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.