GSA Capital Partners LLP Purchases Shares of 5,386 Sun Communities, Inc. $SUI

GSA Capital Partners LLP purchased a new position in Sun Communities, Inc. (NYSE:SUI) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,386 shares of the real estate investment trust’s stock, valued at approximately $695,000.

A number of other institutional investors have also recently made changes to their positions in SUI. Elevation Point Wealth Partners LLC bought a new stake in shares of Sun Communities in the second quarter worth about $30,000. MAI Capital Management grew its holdings in 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 buying an additional 166 shares in the last quarter. Assetmark Inc. increased its stake in Sun Communities by 55.7% in the 3rd 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 during the 3rd quarter worth approximately $37,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Sun Communities by 179.5% during the 3rd 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.

Insiders Place Their Bets

In other Sun Communities news, Director Gary A. Shiffman sold 156,875 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $123.53, for a total value of $19,378,768.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.77% of the stock is owned by company insiders.

Sun Communities Trading Up 1.2%

SUI stock opened at $130.85 on Friday. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $137.77. The stock has a market capitalization of $16.18 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 4.31 and a beta of 0.90. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.58. The firm’s fifty day simple moving average is $125.91 and its two-hundred day simple moving average is $126.21.

Sun Communities Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Barclays restated an “overweight” rating and issued a $144.00 price target on shares of Sun Communities in a research report on Tuesday, January 13th. Robert W. Baird lifted their price objective 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. Jefferies Financial Group set a $142.00 target price on shares of Sun Communities and gave the stock a “buy” rating in a report on Monday, November 3rd. UBS Group upped their target price on shares of Sun Communities from $126.00 to $127.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Finally, Morgan Stanley lowered their price target on shares of Sun Communities from $139.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, November 25th. 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’s stock. According to MarketBeat.com, the company currently has a consensus 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.