Sun Communities, Inc. (NYSE:SUI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in Sun Communities, Inc. (NYSE:SUI) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 425,740 shares of the real estate investment trust’s stock after selling 12,129 shares during the period. Allspring Global Investments Holdings LLC owned 0.33% of Sun Communities worth $52,111,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Sun Communities by 8.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 84 shares during the last quarter. Cascade Investment Advisors Inc. raised its position in shares of Sun Communities by 0.8% in the fourth quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust’s stock valued at $1,276,000 after buying an additional 85 shares during the last quarter. Cetera Trust Company N.A raised its position in shares of Sun Communities by 6.0% in the fourth quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust’s stock valued at $229,000 after buying an additional 105 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Sun Communities by 3.0% in the third quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust’s stock valued at $585,000 after purchasing an additional 125 shares during the period. Finally, CKW Financial Group grew its holdings in shares of Sun Communities by 45.0% in the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 135 shares during the period. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Trading Up 1.2 %

Shares of SUI stock opened at $126.55 on Friday. 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 firm has a market cap of $16.12 billion, a PE ratio of 68.04 and a beta of 0.90. The company has a 50-day moving average of $124.26 and a two-hundred day moving average of $129.66. Sun Communities, Inc. has a 1-year low of $110.98 and a 1-year high of $147.83.

Sun Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Tuesday, December 31st. Sun Communities’s payout ratio is 202.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Truist Financial raised shares of Sun Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Jefferies Financial Group dropped their price objective on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. BMO Capital Markets dropped their price objective on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Evercore ISI upped their price objective on shares of Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Finally, Baird R W lowered shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $134.55.

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.