Harvest Portfolios Group Inc. Has $4.43 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

Harvest Portfolios Group Inc. lifted its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 16.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,806 shares of the real estate investment trust’s stock after buying an additional 4,639 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Sun Communities were worth $4,434,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SUI. Centersquare Investment Management LLC boosted its stake in Sun Communities by 4.7% during the 1st quarter. Centersquare Investment Management LLC now owns 2,171,868 shares of the real estate investment trust’s stock valued at $279,259,000 after purchasing an additional 96,529 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Sun Communities by 8.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 143,209 shares of the real estate investment trust’s stock worth $18,414,000 after buying an additional 11,195 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in Sun Communities in the 2nd quarter valued at $13,164,000. SG Americas Securities LLC lifted its stake in Sun Communities by 145.0% during the 1st quarter. SG Americas Securities LLC now owns 20,576 shares of the real estate investment trust’s stock valued at $2,646,000 after acquiring an additional 12,177 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Sun Communities during the 1st quarter worth $1,106,000. Institutional investors own 99.59% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on SUI. Wells Fargo & Company increased their target price on shares of Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. Truist Financial increased their price objective on shares of Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Evercore ISI boosted their target price on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Royal Bank of Canada increased their price target on Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, UBS Group raised Sun Communities to a “strong-buy” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Sun Communities presently has a consensus rating of “Moderate Buy” and an average price target of $143.91.

Sun Communities Trading Down 0.8 %

NYSE SUI opened at $132.12 on Wednesday. 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 stock’s 50-day simple moving average is $135.73 and its two-hundred day simple moving average is $126.74. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83. The company has a market capitalization of $16.47 billion, a price-to-earnings ratio of 154.88, a PEG ratio of 0.95 and a beta of 0.91.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities’s payout ratio is 437.21%.

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.