Insider Sell: CEO of Safe Harbor Marinas, LLC Sells Shares of Sun Communities Inc (SUI)
Baxter Underwood, CEO of Safe Harbor Marinas, LLC, a subsidiary of Sun Communities Inc (NYSE:SUI), has sold 4,000 shares of the company on March 22, 2024, according to a recent SEC filing. The transaction was executed at a price of $131.48 per share, resulting in a total sale amount of $525,920.
Sun Communities Inc is a real estate investment trust (REIT) that, as of the date of the insider sale, owns and operates, or has an interest in, a portfolio of properties that include manufactured housing communities, recreational vehicle resorts, and marinas. The company is one of the largest owners and operators of such communities in the United States.
Over the past year, the insider has engaged in multiple transactions involving the company's stock. Baxter Underwood has sold a total of 6,000 shares and purchased 950 shares over this period.
The insider transaction history for Sun Communities Inc reveals a pattern of insider activity. In the past year, there have been 3 insider buys and 4 insider sells. This activity provides a glimpse into the sentiment insiders have about the stock's future performance.
On the day of the insider's recent sale, Sun Communities Inc's shares were trading at $131.48, giving the company a market capitalization of $15.812 billion. The price-earnings ratio of the company stood at 111.49, significantly above both the industry median of 17.06 and the company's historical median price-earnings ratio.
The stock's valuation, when compared to the GuruFocus Value (GF Value) of $189.36, indicates a price-to-GF-Value ratio of 0.69. This suggests that Sun Communities Inc's stock might be a possible value trap and warrants caution before investing, based on its GF Value.
The GF Value is determined by considering historical trading multiples, a GuruFocus adjustment factor based on the company's past performance, and future business performance estimates provided by Morningstar analysts.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
