Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Position in Sun Communities, Inc. (NYSE:SUI)

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Sun Communities, Inc. (NYSE:SUI) by 11.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,008 shares of the real estate investment trust’s stock after purchasing an additional 2,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Sun Communities were worth $3,321,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Legacy Trust bought a new stake in Sun Communities during the fourth quarter valued at about $625,000. Aurora Investment Managers LLC. grew its stake in shares of Sun Communities by 9.7% during the 4th quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock valued at $3,380,000 after acquiring an additional 2,435 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Sun Communities by 16.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust’s stock valued at $95,885,000 after acquiring an additional 108,054 shares during the period. Victory Capital Management Inc. increased its holdings in Sun Communities by 6.9% in the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock worth $10,434,000 after acquiring an additional 5,008 shares in the last quarter. Finally, VCI Wealth Management LLC bought a new stake in Sun Communities during the 4th quarter worth approximately $1,312,000. 99.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SUI. Wells Fargo & Company reduced their price objective on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Truist Financial upgraded Sun Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Jefferies Financial Group lowered their price objective on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada lowered their price target on Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $134.55.

Sun Communities Stock Up 0.5 %

Shares of SUI opened at $134.98 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market capitalization of $17.20 billion, a price-to-earnings ratio of 72.57 and a beta of 0.90. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83. The business’s 50 day simple moving average is $125.03 and its 200-day simple moving average is $129.52.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Tuesday, December 31st. Sun Communities’s payout ratio is 202.15%.

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.