Vontobel Holding Ltd. Has $344,000 Position in Sun Communities, Inc. (NYSE:SUI)

Vontobel Holding Ltd. lowered its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 7.6% in the third quarter, Holdings Channel reports. The institutional investor owned 2,542 shares of the real estate investment trust’s stock after selling 210 shares during the period. Vontobel Holding Ltd.’s holdings in Sun Communities were worth $344,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SUI. Price T Rowe Associates Inc. MD increased its stake in Sun Communities by 50.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust’s stock valued at $424,677,000 after acquiring an additional 1,105,306 shares during the period. PGGM Investments increased its stake in Sun Communities by 159.9% in the second quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust’s stock valued at $150,033,000 after acquiring an additional 767,126 shares during the period. Daiwa Securities Group Inc. increased its stake in Sun Communities by 24.0% in the second 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 acquiring an additional 424,842 shares during the period. Hsbc Holdings PLC increased its stake in Sun Communities by 199.1% in the second quarter. Hsbc Holdings PLC now owns 358,284 shares of the real estate investment trust’s stock valued at $42,754,000 after acquiring an additional 238,498 shares during the period. Finally, National Bank of Canada FI increased its stake in Sun Communities by 499.9% in the first quarter. National Bank of Canada FI now owns 157,977 shares of the real estate investment trust’s stock valued at $18,562,000 after acquiring an additional 131,641 shares during the period. Institutional investors own 99.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SUI. UBS Group raised shares of Sun Communities to a “strong-buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada upped their price objective on shares of Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Truist Financial upped their price objective on shares of Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Jefferies Financial Group initiated coverage on shares of Sun Communities in a research note on Thursday, October 17th. They set a “buy” rating and a $160.00 price objective on the stock. Finally, Wells Fargo & Company upped 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 note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.91.

Insider Activity at Sun Communities

In related news, CEO Baxter Underwood sold 3,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were 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 of the company’s stock, valued at approximately $8,340,810.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.89% of the stock is currently owned by insiders.

Sun Communities Trading Up 1.0 %

SUI opened at $135.33 on Wednesday. The firm’s fifty day moving average is $135.49 and its two-hundred day moving average is $125.90. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $16.87 billion, a PE ratio of 116.66, a price-to-earnings-growth ratio of 1.00 and a beta of 0.91. Sun Communities, Inc. has a twelve month low of $102.74 and a twelve month high of $147.83.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.94 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.78%. Sun Communities’s dividend payout ratio is currently 324.14%.

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.