Aberdeen Group plc Has $27.09 Million Holdings in Sun Communities, Inc. $SUI

Aberdeen Group plc grew its position in shares of Sun Communities, Inc. (NYSE:SUI) by 7.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 209,790 shares of the real estate investment trust’s stock after purchasing an additional 14,437 shares during the quarter. Aberdeen Group plc owned about 0.17% of Sun Communities worth $27,086,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Sun Communities by 0.5% during the second quarter. Vanguard Group Inc. now owns 18,040,455 shares of the real estate investment trust’s stock worth $2,281,937,000 after buying an additional 93,170 shares during the last quarter. Dodge & Cox grew its holdings in Sun Communities by 4.0% during the 2nd quarter. Dodge & Cox now owns 14,198,760 shares of the real estate investment trust’s stock worth $1,796,001,000 after acquiring an additional 550,940 shares during the period. Norges Bank bought a new position in shares of Sun Communities in the 2nd quarter worth about $925,926,000. State Street Corp raised its position in shares of Sun Communities by 1.3% in the 2nd quarter. State Street Corp now owns 5,169,350 shares of the real estate investment trust’s stock worth $659,148,000 after acquiring an additional 67,954 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Sun Communities by 4.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,775,910 shares of the real estate investment trust’s stock valued at $351,125,000 after purchasing an additional 128,334 shares during the period. 99.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Jefferies Financial Group set a $142.00 target price on Sun Communities and gave the stock a “buy” rating in a report on Monday, November 3rd. UBS Group lifted their price objective on shares of Sun Communities from $126.00 to $127.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Wells Fargo & Company boosted their target price on shares of Sun Communities from $132.00 to $133.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Truist Financial raised their price target on shares of Sun Communities from $141.00 to $142.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Finally, Barclays reaffirmed an “overweight” rating and issued a $144.00 price target on shares of Sun Communities in a research note on Tuesday, January 13th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $137.46.

Sun Communities Price Performance

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

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Wednesday, December 31st were paid a dividend of $1.04 per share. The ex-dividend date was Wednesday, December 31st. This represents a $4.16 annualized dividend and a dividend yield of 3.2%. Sun Communities’s dividend payout ratio (DPR) is presently 52.13%.

Insider Activity at Sun Communities

In other Sun Communities news, Director Gary A. Shiffman sold 156,875 shares of the firm’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 filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.89% of the company’s stock.

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.