Ontario Teachers Pension Plan Board Acquires New Holdings in Sun Communities, Inc. $SUI

Ontario Teachers Pension Plan Board bought a new position in shares of Sun Communities, Inc. (NYSE:SUI) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,374 shares of the real estate investment trust’s stock, valued at approximately $1,338,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Elevation Point Wealth Partners LLC acquired a new position in shares of Sun Communities during the 2nd quarter worth approximately $30,000. MAI Capital Management increased its position in Sun Communities by 164.4% during the second quarter. MAI Capital Management now owns 267 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 166 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Sun Communities by 55.7% in the third quarter. Assetmark Inc. now owns 271 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 97 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Sun Communities in the third quarter valued at $37,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Sun Communities by 179.5% during the third quarter. Farther Finance Advisors LLC now owns 313 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Trading Down 1.1%

Shares of SUI opened at $129.97 on Thursday. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $137.77. The firm has a market capitalization of $16.07 billion, a P/E ratio of 16.29, a price-to-earnings-growth ratio of 4.33 and a beta of 0.90. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.58. The stock’s fifty day simple moving average is $125.61 and its 200 day simple moving average is $126.16.

Sun Communities Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently weighed in on SUI shares. 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 note on Monday, November 10th. Jefferies Financial Group set a $142.00 price objective on shares of Sun Communities and gave the company a “buy” rating in a research note on Monday, November 3rd. Royal Bank Of Canada raised their target price on shares of Sun Communities from $142.00 to $143.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Barclays reiterated an “overweight” rating and issued a $144.00 price target on shares of Sun Communities in a report on Tuesday, January 13th. Finally, Wall Street Zen upgraded Sun Communities from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $137.46.

Insider Transactions at Sun Communities

In other Sun Communities news, Director Gary A. Shiffman sold 156,875 shares of Sun Communities stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $123.53, for a total transaction of $19,378,768.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.77% 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.