American Assets Capital Advisers LLC Has $595,000 Stake in Sun Communities, Inc. $SUI

American Assets Capital Advisers LLC trimmed its position in shares of Sun Communities, Inc. (NYSE:SUI) by 52.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,609 shares of the real estate investment trust’s stock after selling 4,994 shares during the period. Sun Communities accounts for 0.6% of American Assets Capital Advisers LLC’s investment portfolio, making the stock its 29th biggest holding. American Assets Capital Advisers LLC’s holdings in Sun Communities were worth $595,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SUI. AQR Capital Management LLC boosted its position in shares of Sun Communities by 17.8% in 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 buying an additional 1,827 shares during the period. Goldman Sachs Group Inc. lifted its stake in Sun Communities by 21.1% in 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 acquiring an additional 33,981 shares in the last quarter. Empowered Funds LLC boosted its position in Sun Communities by 32.5% during the 1st quarter. Empowered Funds LLC now owns 3,376 shares of the real estate investment trust’s stock worth $434,000 after acquiring an additional 829 shares during the period. Acadian Asset Management LLC purchased a new position in Sun Communities during the 1st quarter valued at about $362,000. Finally, Knights of Columbus Asset Advisors LLC purchased a new position in Sun Communities during the 2nd quarter valued at about $2,307,000. 99.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Clunet R. Lewis sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $126.24, for a total value of $504,960.00. Following the completion of the sale, the director directly owned 26,000 shares in the company, valued at approximately $3,282,240. The trade was a 13.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gary A. Shiffman sold 156,875 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $123.53, for a total value of $19,378,768.75. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.89% of the company’s stock.

Sun Communities Stock Down 1.3%

Sun Communities stock opened at $125.81 on Tuesday. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.58. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $137.77. The firm’s fifty day simple moving average is $125.32 and its 200-day simple moving average is $125.68. The company has a market capitalization of $15.56 billion, a P/E ratio of 15.77, a P/E/G ratio of 4.20 and a beta of 0.90.

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. This represents a $4.16 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Wednesday, December 31st. Sun Communities’s dividend payout ratio is 52.13%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SUI shares. Truist Financial increased their price target on shares of Sun Communities from $141.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Sun Communities in a research note on Wednesday, January 21st. Robert W. Baird upped their price target on shares of Sun Communities from $134.00 to $136.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. Wells Fargo & Company lifted their price objective on Sun Communities from $132.00 to $133.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Finally, Morgan Stanley lowered their target price on Sun Communities from $139.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 25th. Six 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 data from MarketBeat, the company has an average rating of “Hold” and an average price target of $137.46.

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.