Ceredex Value Advisors LLC Sells 165,717 Shares of Sun Communities, Inc. (NYSE:SUI)

Ceredex Value Advisors LLC trimmed its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 44.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 207,268 shares of the real estate investment trust’s stock after selling 165,717 shares during the quarter. Ceredex Value Advisors LLC owned 0.17% of Sun Communities worth $28,204,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SUI. Price T Rowe Associates Inc. MD raised its position in Sun Communities by 50.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust’s stock worth $424,677,000 after acquiring an additional 1,105,306 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Sun Communities by 3.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust’s stock valued at $354,986,000 after purchasing an additional 111,569 shares during the period. Daiwa Securities Group Inc. lifted its stake in Sun Communities by 24.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock valued at $264,253,000 after purchasing an additional 424,842 shares during the last quarter. Centersquare Investment Management LLC grew its holdings in Sun Communities by 4.7% during the first quarter. Centersquare Investment Management LLC now owns 2,171,868 shares of the real estate investment trust’s stock worth $279,259,000 after purchasing an additional 96,529 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Sun Communities by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,784,547 shares of the real estate investment trust’s stock valued at $214,752,000 after buying an additional 10,592 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Price Performance

Shares of Sun Communities stock opened at $130.31 on Friday. The stock has a market capitalization of $16.25 billion, a P/E ratio of 151.53, a price-to-earnings-growth ratio of 0.97 and a beta of 0.91. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42. The business’s 50 day simple moving average is $135.78 and its two-hundred day simple moving average is $126.43. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83.

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.89%. The ex-dividend date was Monday, September 30th. Sun Communities’s dividend payout ratio is presently 437.21%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SUI shares. Wells Fargo & Company raised their price objective on shares of Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. UBS Group upgraded Sun Communities to a “strong-buy” rating in a research note on Thursday, October 10th. Evercore ISI increased their price objective on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Jefferies Financial Group began coverage on shares of Sun Communities in a research report on Thursday, October 17th. They issued a “buy” rating and a $160.00 target price for the company. Finally, Royal Bank of Canada raised their price target on shares of Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.91.

Insider Activity at Sun Communities

In other news, CEO Baxter Underwood sold 3,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $131.43, for a total value of $394,290.00. Following the sale, the chief executive officer now directly owns 63,462 shares in the company, valued at approximately $8,340,810.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.89% of the stock is owned by insiders.

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.