Principal Financial Group Inc. Has $15.33 Million Holdings in Sun Communities, Inc. $SUI

Principal Financial Group Inc. lessened its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 13.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,848 shares of the real estate investment trust’s stock after selling 19,267 shares during the quarter. Principal Financial Group Inc. owned 0.09% of Sun Communities worth $15,331,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. National Pension Service raised its stake in Sun Communities by 88.8% during the third quarter. National Pension Service now owns 3,727 shares of the real estate investment trust’s stock worth $481,000 after acquiring an additional 1,753 shares in the last quarter. Arizona State Retirement System increased its position in shares of Sun Communities by 1.3% during the 3rd quarter. Arizona State Retirement System now owns 37,790 shares of the real estate investment trust’s stock worth $4,875,000 after purchasing an additional 498 shares in the last quarter. Knights of Columbus Asset Advisors LLC lifted its holdings in Sun Communities by 16.3% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 21,210 shares of the real estate investment trust’s stock valued at $2,736,000 after purchasing an additional 2,972 shares during the last quarter. New York State Common Retirement Fund boosted its position in Sun Communities by 15.3% in the third quarter. New York State Common Retirement Fund now owns 75,147 shares of the real estate investment trust’s stock valued at $9,694,000 after buying an additional 10,000 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Sun Communities by 18.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,418 shares of the real estate investment trust’s stock worth $828,000 after buying an additional 1,013 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Down 0.1%

Shares of NYSE SUI opened at $125.53 on Tuesday. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $137.77. The firm’s 50-day moving average is $125.07 and its 200-day moving average is $125.73. 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 firm has a market capitalization of $15.52 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 4.14 and a beta of 0.90.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Wednesday, December 31st were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.3%. Sun Communities’s payout ratio is 52.13%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SUI shares. Royal Bank Of Canada lifted their target price on shares of Sun Communities from $142.00 to $143.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Wells Fargo & Company raised their price target on Sun Communities from $132.00 to $133.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Barclays reissued an “overweight” rating and issued a $144.00 price objective on shares of Sun Communities in a research note on Tuesday, January 13th. Jefferies Financial Group set a $142.00 target price on Sun Communities and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft raised Sun Communities from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Tuesday, January 20th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Sun Communities currently has a consensus rating of “Hold” and an average price target of $137.46.

Insider Activity at Sun Communities

In related news, Director Gary A. Shiffman sold 156,875 shares of the company’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $123.53, for a total value of $19,378,768.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.89% of the stock is currently owned by company insiders.

About Sun Communities

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.