Capital Square LLC Acquires New Stake in Sun Communities, Inc. $SUI

Capital Square LLC acquired a new stake in shares of Sun Communities, Inc. (NYSE:SUI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,762 shares of the real estate investment trust’s stock, valued at approximately $923,000.

A number of other large investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Sun Communities by 9.1% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,003 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 84 shares during the period. IFP Advisors Inc increased its stake in shares of Sun Communities by 3.2% in the fourth quarter. IFP Advisors Inc now owns 2,902 shares of the real estate investment trust’s stock worth $360,000 after purchasing an additional 89 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Sun Communities by 13.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 773 shares of the real estate investment trust’s stock worth $96,000 after purchasing an additional 90 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Sun Communities by 2.1% in the fourth quarter. CIBC Asset Management Inc now owns 5,467 shares of the real estate investment trust’s stock valued at $677,000 after purchasing an additional 112 shares during the period. Finally, Orion Porfolio Solutions LLC raised its position in shares of Sun Communities by 1.3% in the second quarter. Orion Porfolio Solutions LLC now owns 9,335 shares of the real estate investment trust’s stock valued at $1,181,000 after purchasing an additional 117 shares during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Trading Down 0.1%

Shares of SUI opened at $121.55 on Monday. Sun Communities, Inc. has a twelve month low of $115.90 and a twelve month high of $137.85. The stock has a market cap of $14.80 billion, a PE ratio of -17.14, a P/E/G ratio of 5.55 and a beta of 0.78. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.70. The business’s 50-day moving average price is $121.08 and its 200-day moving average price is $125.85.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, June 30th. Sun Communities’s dividend payout ratio is -63.19%.

Insider Buying and Selling

In other Sun Communities news, Director Gary A. Shiffman sold 25,031 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $119.96, for a total value of $3,002,718.76. Following the completion of the transaction, the director directly owned 857,761 shares of the company’s stock, valued at $102,897,009.56. This trade represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Fernando Castro-Caratini sold 23,750 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the completion of the transaction, the executive vice president directly owned 9,998 shares of the company’s stock, valued at approximately $1,244,051.14. The trade was a 70.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft set a $133.00 price target on shares of Sun Communities in a research note on Thursday, May 14th. Morgan Stanley lowered their target price on shares of Sun Communities from $135.00 to $126.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 12th. Odeon Capital Group set a $135.00 target price on Sun Communities in a research report on Thursday, July 9th. Wells Fargo & Company cut their price target on Sun Communities from $142.00 to $141.00 and set an “overweight” rating for the company in a report on Monday, August 10th. Finally, Barclays lifted their price target on Sun Communities from $146.00 to $147.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Sun Communities currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.38.

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.