Swedbank AB Has $21.94 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

Swedbank AB increased its position in shares of Sun Communities, Inc. (NYSE:SUI) by 52.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,368 shares of the real estate investment trust’s stock after acquiring an additional 56,132 shares during the period. Swedbank AB’s holdings in Sun Communities were worth $21,944,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SUI. Farmers & Merchants Investments Inc. bought a new position in Sun Communities in the 1st quarter valued at approximately $26,000. V Square Quantitative Management LLC acquired a new stake in Sun Communities in the fourth quarter worth $32,000. Quest Partners LLC grew its holdings in shares of 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 valued at $46,000 after buying an additional 381 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Sun Communities during the second quarter valued at about $62,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Sun Communities during the first quarter valued at about $83,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Insider Buying and Selling

In related news, CEO Baxter Underwood sold 3,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $131.43, for a total transaction of $394,290.00. Following the sale, the chief executive officer now directly owns 63,462 shares of the company’s stock, valued at approximately $8,340,810.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SUI has been the topic of several analyst reports. Royal Bank of Canada boosted their price target on shares of Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Evercore ISI lowered shares of Sun Communities from an “outperform” rating to an “inline” rating and boosted their price target for the company from $144.00 to $149.00 in a research report on Monday, September 16th. StockNews.com raised shares of Sun Communities from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th. Truist Financial boosted their price target on shares of Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Finally, UBS Group raised shares of Sun Communities to a “strong-buy” rating in a research note on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Sun Communities has an average rating of “Moderate Buy” and an average price target of $142.20.

Sun Communities Stock Up 1.8 %

Shares of NYSE SUI opened at $136.07 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. Sun Communities, Inc. has a 12 month low of $102.74 and a 12 month high of $147.83. The firm has a market capitalization of $16.96 billion, a PE ratio of 117.30, a price-to-earnings-growth ratio of 0.94 and a beta of 0.91. The firm has a fifty day simple moving average of $135.04 and a two-hundred day simple moving average of $125.54.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.94 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.76%. Sun Communities’s dividend payout ratio (DPR) is presently 324.14%.

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.