First National Bank of Omaha Makes New $2.30 Million Investment in Sun Communities, Inc. $SUI

First National Bank of Omaha bought a new stake in shares of Sun Communities, Inc. (NYSE:SUI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 19,212 shares of the real estate investment trust’s stock, valued at approximately $2,304,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new position in shares of Sun Communities in the 2nd quarter worth $1,365,000. BlackRock Inc. bought a new stake in shares of Sun Communities in the second quarter worth $1,649,715,000. Deutsche Bank AG purchased a new stake in Sun Communities during the second quarter valued at $108,430,000. Commerzbank Aktiengesellschaft FI purchased a new stake in Sun Communities during the second quarter valued at $596,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Sun Communities in the second quarter valued at about $28,880,000. 99.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SUI. Morgan Stanley dropped their target price on Sun Communities from $135.00 to $126.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 12th. Royal Bank Of Canada lowered shares of Sun Communities from a “moderate buy” rating to a “hold” rating in a research report on Monday, August 10th. Barclays increased their price objective on shares of Sun Communities from $146.00 to $147.00 and gave the stock an “overweight” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft set a $133.00 target price on shares of Sun Communities in a research report on Thursday, May 14th. Finally, Jefferies Financial Group raised shares of Sun Communities to a “strong-buy” rating in a report on Wednesday, July 22nd. Two 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $139.38.

Sun Communities Price Performance

Shares of NYSE:SUI opened at $122.23 on Thursday. The company has a market capitalization of $14.89 billion, a P/E ratio of -17.24, a P/E/G ratio of 5.48 and a beta of 0.78. Sun Communities, Inc. has a 1-year low of $115.90 and a 1-year high of $137.85. The firm’s 50 day simple moving average is $121.26 and its two-hundred day simple moving average is $125.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.52 and a quick ratio of 2.52.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, June 30th. Sun Communities’s dividend payout ratio (DPR) is presently -63.19%.

Insiders Place Their Bets

In related news, EVP Fernando Castro-Caratini sold 23,750 shares of Sun Communities stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the transaction, the executive vice president owned 9,998 shares in the company, valued at approximately $1,244,051.14. The trade was a 70.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary A. Shiffman sold 25,031 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total transaction of $3,002,718.76. Following the completion of the transaction, the director directly owned 857,761 shares of the company’s stock, valued at $102,897,009.56. This represents a 2.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.58% of the stock is currently owned by insiders.

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.