Whittier Trust Co. Has $28.57 Million Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Whittier Trust Co. grew its stake in Sun Communities, Inc. (NYSE:SUI) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 211,431 shares of the real estate investment trust’s stock after buying an additional 5,648 shares during the period. Whittier Trust Co. owned 0.17% of Sun Communities worth $28,574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in SUI. Farmers & Merchants Investments Inc. bought a new stake in shares of Sun Communities during the first quarter valued at approximately $26,000. Quest Partners LLC boosted its position in shares of Sun Communities by 12,700.0% during the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 381 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Sun Communities during the second quarter valued at approximately $62,000. Blue Trust Inc. boosted its position in Sun Communities by 230.7% in the third quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $84,000 after purchasing an additional 436 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in Sun Communities in the first quarter worth $83,000. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Stock Down 1.8 %

Shares of NYSE:SUI traded down $2.40 during trading on Monday, hitting $133.79. The stock had a trading volume of 447,246 shares, compared to its average volume of 799,271. Sun Communities, Inc. has a 12 month low of $102.74 and a 12 month high of $147.83. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $16.67 billion, a PE ratio of 115.63, a PEG ratio of 1.00 and a beta of 0.91. The firm’s fifty day moving average is $135.31 and its 200 day moving average is $125.74.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.81%. Sun Communities’s dividend payout ratio is 324.14%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Robert W. Baird boosted their price objective on Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. UBS Group upgraded Sun Communities to a “strong-buy” rating in a research note on Thursday, October 10th. Truist Financial boosted their target price on Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Jefferies Financial Group began coverage on Sun Communities in a research note on Thursday. They issued a “buy” rating and a $160.00 target price on the stock. Finally, Royal Bank of Canada boosted their price objective on Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.91.

Insider Buying and Selling at Sun Communities

In other news, CEO Baxter Underwood sold 3,000 shares of Sun Communities stock in a transaction dated 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 of the company’s stock, valued at approximately $8,340,810.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.89% of the company’s stock.

Sun Communities 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.