Rhumbline Advisers Sells 9,579 Shares of Sun Communities, Inc. $SUI

Rhumbline Advisers reduced its position in shares of Sun Communities, Inc. (NYSE:SUI) by 5.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,556 shares of the real estate investment trust’s stock after selling 9,579 shares during the period. Rhumbline Advisers owned about 0.13% of Sun Communities worth $20,196,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SUI. Elevation Point Wealth Partners LLC bought a new position in shares of Sun Communities during the 2nd quarter worth approximately $30,000. MAI Capital Management boosted its stake in shares of Sun Communities by 164.4% during the 2nd quarter. MAI Capital Management now owns 267 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 166 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Sun Communities during the third quarter worth approximately $37,000. Farther Finance Advisors LLC boosted its position in shares of Sun Communities by 179.5% in the third quarter. Farther Finance Advisors LLC now owns 313 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 201 shares during the period. Finally, Cornerstone Planning Group LLC grew its stake in shares of Sun Communities by 2,907.7% in the third quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 378 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SUI. Jefferies Financial Group set a $142.00 price objective on shares of Sun Communities and gave the stock a “buy” rating in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sun Communities in a report on Wednesday, January 21st. Robert W. Baird boosted their price target on Sun Communities from $134.00 to $136.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Truist Financial increased their price target on Sun Communities from $141.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Finally, Royal Bank Of Canada lifted their price objective on Sun Communities from $142.00 to $143.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Sun Communities has an average rating of “Hold” and an average target price of $137.46.

Insider Buying and Selling at Sun Communities

In other Sun Communities news, Director Gary A. Shiffman sold 156,875 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $123.53, for a total transaction of $19,378,768.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.89% of the stock is currently owned by corporate insiders.

Sun Communities Stock Performance

Shares of NYSE:SUI opened at $130.85 on Tuesday. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $137.77. The stock has a market capitalization of $16.18 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 4.31 and a beta of 0.90. The company has a debt-to-equity ratio of 0.58, a current ratio of 6.01 and a quick ratio of 6.01. The company’s 50 day simple moving average is $125.29 and its 200 day simple moving average is $126.08.

Sun Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Wednesday, December 31st were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Wednesday, December 31st. Sun Communities’s dividend payout ratio is currently 52.13%.

Sun Communities Company 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.