Sun Communities, Inc. $SUI Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its stake in Sun Communities, Inc. (NYSE:SUI) by 56.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,609 shares of the real estate investment trust’s stock after selling 4,588 shares during the period. Thrivent Financial for Lutherans’ holdings in Sun Communities were worth $466,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SUI. AQR Capital Management LLC increased its position in shares of Sun Communities by 17.8% during the first quarter. AQR Capital Management LLC now owns 12,076 shares of the real estate investment trust’s stock worth $1,554,000 after purchasing an additional 1,827 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Sun Communities by 21.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 195,339 shares of the real estate investment trust’s stock worth $25,128,000 after buying an additional 33,981 shares during the last quarter. Empowered Funds LLC increased its position in Sun Communities by 32.5% during the first quarter. Empowered Funds LLC now owns 3,376 shares of the real estate investment trust’s stock worth $434,000 after buying an additional 829 shares during the period. Acadian Asset Management LLC purchased a new stake in Sun Communities in the first quarter valued at approximately $362,000. Finally, Allianz Asset Management GmbH lifted its stake in Sun Communities by 8.2% in the second quarter. Allianz Asset Management GmbH now owns 125,847 shares of the real estate investment trust’s stock valued at $15,918,000 after buying an additional 9,555 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. 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 report on Thursday, November 6th. UBS Group raised their price objective on shares of Sun Communities from $126.00 to $127.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Truist Financial lifted their price objective on shares of Sun Communities from $141.00 to $142.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Wall Street Zen upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, Jefferies Financial Group set a $142.00 price target on Sun Communities and gave the stock a “buy” rating in a report on Monday, November 3rd. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Sun Communities has a consensus rating of “Hold” and a consensus target price of $137.46.

Insider Transactions at Sun Communities

In other Sun Communities news, Director Gary A. Shiffman sold 156,875 shares of the company’s stock in a transaction on 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 1.89% of the company’s stock.

Sun Communities Price Performance

Shares of NYSE:SUI opened at $131.67 on Wednesday. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $137.77. The company has a 50-day moving average price of $125.46 and a 200 day moving average price of $126.13. The company has a market cap of $16.28 billion, a P/E ratio of 16.50, a PEG ratio of 4.31 and a beta of 0.90. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.58.

Sun Communities Dividend Announcement

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

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.