Vestmark Advisory Solutions Inc. Sells 7,975 Shares of Sun Communities, Inc. $SUI

Vestmark Advisory Solutions Inc. cut its holdings in Sun Communities, Inc. (NYSE:SUI) by 48.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,336 shares of the real estate investment trust’s stock after selling 7,975 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Sun Communities were worth $1,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Tredje AP fonden lifted its position in Sun Communities by 30.2% during the third quarter. Tredje AP fonden now owns 12,829 shares of the real estate investment trust’s stock valued at $1,655,000 after buying an additional 2,975 shares during the period. AMG National Trust Bank grew its holdings in Sun Communities by 13.0% in the third quarter. AMG National Trust Bank now owns 14,071 shares of the real estate investment trust’s stock worth $1,815,000 after purchasing an additional 1,624 shares during the period. Ontario Teachers Pension Plan Board bought a new position in shares of Sun Communities during the third quarter valued at approximately $1,338,000. First National Bank of Omaha purchased a new position in shares of Sun Communities during the third quarter valued at approximately $2,341,000. Finally, NEOS Investment Management LLC boosted its position in shares of Sun Communities by 101.9% in the 3rd quarter. NEOS Investment Management LLC now owns 11,534 shares of the real estate investment trust’s stock worth $1,488,000 after purchasing an additional 5,821 shares in the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Gary A. Shiffman sold 156,875 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.77% of the stock is owned by company insiders.

Sun Communities Stock Up 1.0%

NYSE SUI opened at $132.58 on Thursday. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month high of $137.77. 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 has a market cap of $16.40 billion, a PE ratio of 12.34, a P/E/G ratio of 4.35 and a beta of 0.90. The stock’s 50 day moving average is $126.40 and its 200 day moving average is $126.35.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders 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 annualized dividend and a yield of 3.1%. Sun Communities’s dividend payout ratio (DPR) is presently 52.13%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wall Street Zen raised shares of Sun Communities from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Barclays reiterated an “overweight” rating and set a $144.00 target price on shares of Sun Communities in a research note on Tuesday, January 13th. Jefferies Financial Group set a $142.00 price target on Sun Communities and gave the company a “buy” rating in a report on Monday, November 3rd. Morgan Stanley decreased their target price on Sun Communities from $139.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 25th. Finally, UBS Group raised their price target on shares of Sun Communities from $126.00 to $127.00 and gave the company 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $137.46.

Sun Communities Company 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.