New York State Common Retirement Fund Has $9.69 Million Stock Position in Sun Communities, Inc. $SUI

New York State Common Retirement Fund raised its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 15.3% during the third quarter, HoldingsChannel.com reports. The firm owned 75,147 shares of the real estate investment trust’s stock after acquiring an additional 10,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Sun Communities were worth $9,694,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SUI. Elevation Point Wealth Partners LLC acquired a new position in Sun Communities in the second quarter valued at approximately $30,000. MAI Capital Management raised its position in shares of Sun Communities by 164.4% during the 2nd quarter. MAI Capital Management now owns 267 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 166 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Sun Communities during the 3rd quarter valued at $37,000. Farther Finance Advisors LLC lifted its stake in shares of Sun Communities by 179.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 313 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 201 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of Sun Communities by 37.3% in the 2nd quarter. Smartleaf Asset Management LLC now owns 556 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 151 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gary A. Shiffman sold 156,875 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $123.53, for a total value of $19,378,768.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Clunet R. Lewis sold 4,000 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $126.24, for a total value of $504,960.00. Following the transaction, the director directly owned 26,000 shares of the company’s stock, valued at $3,282,240. This represents a 13.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.89% of the stock is currently owned by corporate insiders.

Sun Communities Stock Performance

Shares of SUI opened at $127.72 on Wednesday. The firm has a market cap of $15.80 billion, a P/E ratio of 16.01, a PEG ratio of 4.15 and a beta of 0.90. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $137.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 6.01 and a current ratio of 6.01. The firm’s 50 day moving average price is $125.31 and its two-hundred day moving average price is $125.70.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Wednesday, December 31st were paid a $1.04 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $4.16 dividend on an annualized basis and a yield of 3.3%. Sun Communities’s dividend payout ratio is presently 52.13%.

Wall Street Analysts Forecast Growth

SUI has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Sun Communities in a report on Wednesday, January 21st. Truist Financial upped their price target on Sun Communities from $141.00 to $142.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Wall Street Zen upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Deutsche Bank Aktiengesellschaft raised shares of Sun Communities from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Tuesday, January 20th. Finally, Barclays reiterated an “overweight” rating and issued a $144.00 target price on shares of Sun Communities in a report on Tuesday, January 13th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Sun Communities presently has an average rating of “Hold” and an average target price of $137.46.

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.