Poplar Forest Capital LLC Invests $7.87 Million in Sun Communities, Inc. (NYSE:SUI)

Poplar Forest Capital LLC bought a new position in shares of Sun Communities, Inc. (NYSE:SUI) during the 4th quarter, Holdings Channel reports. The firm bought 58,895 shares of the real estate investment trust’s stock, valued at approximately $7,871,000. Sun Communities accounts for about 1.1% of Poplar Forest Capital LLC’s investment portfolio, making the stock its 29th largest holding.

Several other large investors also recently made changes to their positions in SUI. AE Wealth Management LLC grew its holdings in shares of Sun Communities by 8.9% during the third quarter. AE Wealth Management LLC now owns 3,171 shares of the real estate investment trust’s stock worth $375,000 after purchasing an additional 259 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Sun Communities by 19.5% during the third quarter. SG Americas Securities LLC now owns 10,361 shares of the real estate investment trust’s stock worth $1,226,000 after purchasing an additional 1,691 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Sun Communities by 2.6% during the third quarter. Avior Wealth Management LLC now owns 3,727 shares of the real estate investment trust’s stock worth $441,000 after purchasing an additional 96 shares during the last quarter. Presima Securities ULC boosted its holdings in Sun Communities by 21.0% in the third quarter. Presima Securities ULC now owns 163,500 shares of the real estate investment trust’s stock valued at $19,349,000 after acquiring an additional 28,400 shares during the last quarter. Finally, Manning & Napier Group LLC boosted its holdings in Sun Communities by 7.5% in the third quarter. Manning & Napier Group LLC now owns 110,031 shares of the real estate investment trust’s stock valued at $13,021,000 after acquiring an additional 7,641 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

Insider Transactions at Sun Communities

In other news, Director Craig Leupold sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $128.39, for a total transaction of $320,975.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Baxter Underwood sold 4,000 shares of Sun Communities stock in a transaction that occurred 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 sale, the chief executive officer now owns 66,852 shares of the company’s stock, valued at approximately $8,789,700.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Craig Leupold sold 2,500 shares of Sun Communities stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total value of $320,975.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,000 shares of company stock valued at $912,460 over the last 90 days. 1.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Sun Communities Trading Up 0.2 %

NYSE:SUI traded up $0.26 during mid-day trading on Wednesday, hitting $120.30. The company had a trading volume of 596,105 shares, compared to its average volume of 801,013. The firm has a market cap of $14.99 billion, a P/E ratio of 105.53, a P/E/G ratio of 7.57 and a beta of 0.80. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.66 and a current ratio of 1.66. The business’s fifty day moving average is $127.51 and its two-hundred day moving average is $125.20. Sun Communities, Inc. has a fifty-two week low of $102.74 and a fifty-two week high of $141.52.

Sun Communities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.13%. This is a positive change from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s dividend payout ratio (DPR) is currently 329.83%.

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.