Focus Partners Advisor Solutions LLC Takes Position in Sun Communities, Inc. $SUI

Focus Partners Advisor Solutions LLC acquired a new position in Sun Communities, Inc. (NYSE:SUI) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 7,086 shares of the real estate investment trust’s stock, valued at approximately $850,000.

Several other large investors have also recently modified their holdings of SUI. Fulcrum Asset Management LLP bought a new stake in shares of Sun Communities in the 3rd quarter valued at about $27,000. Wiser Advisor Group LLC bought a new stake in shares of Sun Communities during the 3rd quarter valued at about $46,000. Oslo Pensjonsforsikring AS bought a new stake in Sun Communities during the 1st quarter valued at approximately $49,000. Prosperity Bancshares Inc purchased a new stake in Sun Communities in the fourth quarter worth $48,000. Finally, Allworth Financial LP grew its position in shares of Sun Communities by 141.6% in the 4th quarter. Allworth Financial LP now owns 430 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 252 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SUI shares. Colliers Securities upgraded Sun Communities from a “neutral” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Friday, May 22nd. Deutsche Bank Aktiengesellschaft set a $133.00 price target on Sun Communities in a research report on Thursday, May 14th. Truist Financial dropped their price target on shares of Sun Communities from $141.00 to $138.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Barclays increased their price objective on shares of Sun Communities from $146.00 to $147.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Evercore reiterated an “outperform” rating and issued a $144.00 target price on shares of Sun Communities in a research note on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sun Communities has an average rating of “Moderate Buy” and an average price target of $139.38.

Sun Communities Stock Performance

Shares of NYSE SUI opened at $121.89 on Tuesday. The firm’s 50-day moving average price is $121.43 and its 200-day moving average price is $125.97. Sun Communities, Inc. has a 52-week low of $115.90 and a 52-week high of $137.85. The company has a market cap of $14.85 billion, a PE ratio of -17.19, a PEG ratio of 3.86 and a beta of 0.78. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.70.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $1.12 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $4.48 annualized dividend and a yield of 3.7%. Sun Communities’s dividend payout ratio (DPR) is currently -63.19%.

Insider Buying and Selling

In other Sun Communities news, EVP Fernando Castro-Caratini sold 23,750 shares of Sun Communities stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $124.43, for a total value of $2,955,212.50. Following the completion of the sale, the executive vice president owned 9,998 shares of the company’s stock, valued at approximately $1,244,051.14. The trade was a 70.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gary A. Shiffman sold 25,031 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $119.96, for a total transaction of $3,002,718.76. Following the sale, the director owned 857,761 shares of the company’s stock, valued at approximately $102,897,009.56. This represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.58% of the company’s stock.

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.