Sun Communities, Inc. $SUI Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 1.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,289,956 shares of the real estate investment trust’s stock after purchasing an additional 249,501 shares during the period. Vanguard Group Inc. owned approximately 14.79% of Sun Communities worth $2,359,404,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SUI. Norges Bank acquired a new position in Sun Communities during the 2nd quarter valued at about $925,926,000. Dodge & Cox boosted its holdings in shares of Sun Communities by 4.0% in the second quarter. Dodge & Cox now owns 14,198,760 shares of the real estate investment trust’s stock valued at $1,796,001,000 after acquiring an additional 550,940 shares in the last quarter. Lasalle Investment Management Securities LLC increased its stake in shares of Sun Communities by 27.6% during the second quarter. Lasalle Investment Management Securities LLC now owns 746,432 shares of the real estate investment trust’s stock valued at $94,416,000 after acquiring an additional 161,589 shares during the period. Daiwa Securities Group Inc. raised its holdings in Sun Communities by 4.8% during the second quarter. Daiwa Securities Group Inc. now owns 2,775,910 shares of the real estate investment trust’s stock worth $351,125,000 after purchasing an additional 128,334 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. acquired a new stake in Sun Communities in the second quarter worth approximately $16,185,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Insider Buying and Selling at Sun Communities

In related news, Director Gary A. Shiffman sold 156,875 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $123.53, for a total transaction of $19,378,768.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.77% of the company’s stock.

Analyst Upgrades and Downgrades

SUI has been the topic of several research analyst reports. Truist Financial lifted their price target on Sun Communities from $141.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Barclays reaffirmed an “overweight” rating and set a $144.00 target price on shares of Sun Communities in a report on Tuesday, January 13th. Robert W. Baird raised their price objective on shares of Sun Communities from $134.00 to $136.00 and gave the company a “neutral” rating in a research report on Wednesday, November 19th. UBS Group boosted their target price on shares of Sun Communities from $126.00 to $127.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Finally, Jefferies Financial Group set a $142.00 target price on shares of Sun Communities and gave the company a “buy” rating in a research note on Monday, November 3rd. 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 stock. According to data from MarketBeat, Sun Communities presently has an average rating of “Hold” and a consensus price target of $137.46.

Sun Communities Price Performance

SUI stock opened at $129.37 on Friday. The firm has a 50-day moving average of $125.74 and a two-hundred day moving average of $126.18. The firm has a market capitalization of $16.00 billion, a PE ratio of 16.21, a P/E/G ratio of 4.28 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. Sun Communities, Inc. has a one year low of $109.22 and a one year high of $137.77.

Sun Communities Dividend Announcement

The firm also recently declared 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 currently 52.13%.

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.