Universal Beteiligungs und Servicegesellschaft mbH lessened its stake in shares of Sun Communities, Inc. (NYSE:SUI – Free Report) by 49.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 274,134 shares of the real estate investment trust’s stock after selling 272,246 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned 0.22% of Sun Communities worth $35,363,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of SUI. Elevation Point Wealth Partners LLC bought a new stake in Sun Communities in the second quarter valued at $30,000. MAI Capital Management grew its stake in shares of Sun Communities by 164.4% in the 2nd quarter. MAI Capital Management now owns 267 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 166 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Sun Communities in the 3rd quarter valued at about $37,000. Farther Finance Advisors LLC increased its position in Sun Communities by 179.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 313 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 201 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in Sun Communities during the 2nd quarter worth approximately $47,000. 99.59% of the stock is owned by institutional investors.
Sun Communities Trading Down 0.7%
NYSE SUI opened at $125.09 on Thursday. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $125.39 and a 200 day simple moving average of $125.68. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month high of $137.77. The firm has a market capitalization of $15.47 billion, a P/E ratio of 15.68, a PEG ratio of 4.16 and a beta of 0.90.
Sun Communities Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Wednesday, December 31st will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $4.16 annualized dividend and a dividend yield of 3.3%. Sun Communities’s dividend payout ratio (DPR) is currently 52.13%.
Analysts Set New Price Targets
A number of equities research analysts have commented on SUI shares. Deutsche Bank Aktiengesellschaft raised Sun Communities from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research note on Tuesday. Wall Street Zen raised shares of Sun Communities from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Wells Fargo & Company boosted their price target on shares of Sun Communities from $132.00 to $133.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. UBS Group upped their price objective on shares of Sun Communities from $126.00 to $127.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Finally, Robert W. Baird lifted their price objective on shares of Sun Communities from $134.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sun Communities has a consensus rating of “Hold” and a consensus price target of $137.46.
View Our Latest Report on Sun Communities
Insider Buying and Selling
In related news, Director Clunet R. Lewis sold 4,000 shares of Sun Communities stock in a transaction on Monday, November 10th. The stock was sold at an average price of $126.24, for a total transaction of $504,960.00. Following the sale, the director directly owned 26,000 shares in the company, valued at approximately $3,282,240. This trade represents a 13.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gary A. Shiffman sold 156,875 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $123.53, for a total value of $19,378,768.75. The disclosure for this sale is available in the SEC filing. 1.77% of the stock is owned by insiders.
Sun Communities Profile
Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.
Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.
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