Metis Global Partners LLC Buys 7,053 Shares of Sun Communities, Inc. $SUI

Metis Global Partners LLC lifted its position in Sun Communities, Inc. (NYSE:SUI) by 32.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,479 shares of the real estate investment trust’s stock after buying an additional 7,053 shares during the quarter. Metis Global Partners LLC’s holdings in Sun Communities were worth $3,674,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Elevation Point Wealth Partners LLC bought a new stake in Sun Communities during the 2nd quarter worth approximately $30,000. MAI Capital Management increased its holdings in shares of Sun Communities by 164.4% in the second quarter. MAI Capital Management now owns 267 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 166 shares during the period. Assetmark Inc. raised its position 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 buying an additional 97 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Sun Communities in the third quarter worth $37,000. Finally, Farther Finance Advisors LLC boosted its stake in 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 buying an additional 201 shares during the period. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Trading Up 1.5%

Shares of SUI opened at $130.85 on Friday. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $137.77. The firm has a market cap of $16.18 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 4.25 and a beta of 0.90. The firm has a 50 day moving average price of $125.18 and a 200-day moving average price of $125.92. The company has a debt-to-equity ratio of 0.58, a quick ratio of 6.01 and a current ratio of 6.01.

Sun Communities Dividend Announcement

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

Insider Activity

In other news, Director Gary A. Shiffman sold 156,875 shares of Sun Communities 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 transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Royal Bank Of Canada upped their target price on Sun Communities from $142.00 to $143.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Truist Financial raised their target price on shares of Sun Communities from $141.00 to $142.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Jefferies Financial Group set a $142.00 target price on shares of Sun Communities and gave the company a “buy” rating in a research report on Monday, November 3rd. Robert W. Baird boosted 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. Finally, UBS Group increased their price target 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. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.