K.J. Harrison & Partners Inc Has $5.85 Million Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

K.J. Harrison & Partners Inc boosted its position in shares of Sun Communities, Inc. (NYSE:SUI) by 92.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 43,745 shares of the real estate investment trust’s stock after purchasing an additional 20,975 shares during the quarter. Sun Communities makes up approximately 1.0% of K.J. Harrison & Partners Inc’s investment portfolio, making the stock its 27th biggest position. K.J. Harrison & Partners Inc’s holdings in Sun Communities were worth $5,847,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Sun Communities by 5.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 673,215 shares of the real estate investment trust’s stock valued at $89,975,000 after acquiring an additional 33,795 shares during the last quarter. Strs Ohio raised its position in shares of Sun Communities by 8.6% during the 4th quarter. Strs Ohio now owns 301,096 shares of the real estate investment trust’s stock valued at $40,241,000 after acquiring an additional 23,792 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in shares of Sun Communities by 9.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,846 shares of the real estate investment trust’s stock valued at $219,000 after acquiring an additional 155 shares during the last quarter. DNB Asset Management AS raised its position in shares of Sun Communities by 5.6% during the 4th quarter. DNB Asset Management AS now owns 17,647 shares of the real estate investment trust’s stock valued at $2,359,000 after acquiring an additional 932 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of Sun Communities by 0.7% during the 4th quarter. Arizona State Retirement System now owns 34,195 shares of the real estate investment trust’s stock valued at $4,570,000 after acquiring an additional 253 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on SUI shares. JMP Securities reiterated a “market outperform” rating and set a $150.00 target price on shares of Sun Communities in a research report on Tuesday. Barclays lowered their price objective on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. BMO Capital Markets lowered their price objective on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, January 22nd. Truist Financial lowered their price objective on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a research report on Monday, March 18th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Sun Communities in a research report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sun Communities has an average rating of “Hold” and an average target price of $141.17.

Sun Communities Stock Up 0.1 %

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

Sun Communities Increases Dividend

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

Insider Activity at Sun Communities

In related news, Director Clunet R. Lewis sold 500 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total value of $65,565.00. Following the completion of the sale, the director now directly owns 28,400 shares in the company, valued at approximately $3,724,092. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Clunet R. Lewis sold 500 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total value of $65,565.00. Following the completion of the sale, the director now directly owns 28,400 shares in the company, valued at approximately $3,724,092. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Baxter Underwood sold 4,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were 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 owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,000 shares of company stock worth $912,460. Insiders own 1.89% of the company’s stock.

Sun Communities Company 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.