Squarepoint Ops LLC Increases Stock Position in Sun Communities, Inc. $SUI

Squarepoint Ops LLC increased its holdings in Sun Communities, Inc. (NYSE:SUI) by 33.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,172 shares of the real estate investment trust’s stock after acquiring an additional 22,985 shares during the quarter. Squarepoint Ops LLC’s holdings in Sun Communities were worth $11,052,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SUI. AQR Capital Management LLC increased its position in Sun Communities by 17.8% in the 1st quarter. AQR Capital Management LLC now owns 12,076 shares of the real estate investment trust’s stock valued at $1,554,000 after acquiring an additional 1,827 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Sun Communities by 21.1% in the first quarter. Goldman Sachs Group Inc. now owns 195,339 shares of the real estate investment trust’s stock valued at $25,128,000 after acquiring an additional 33,981 shares during the period. Empowered Funds LLC boosted its position in shares of Sun Communities by 32.5% during the 1st quarter. Empowered Funds LLC now owns 3,376 shares of the real estate investment trust’s stock worth $434,000 after purchasing an additional 829 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Sun Communities during the 1st quarter worth $362,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Sun Communities by 26.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 673 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 141 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Insider Transactions at Sun Communities

In other Sun Communities news, Director Gary Shiffman sold 25,031 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total transaction of $3,002,718.76. Following the sale, the director owned 857,761 shares in the company, valued at approximately $102,897,009.56. This represents a 2.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SUI shares. Bank of America upgraded shares of Sun Communities from an “underperform” rating to a “neutral” rating and set a $140.00 price target for the company in a report on Thursday, August 27th. Deutsche Bank Aktiengesellschaft set a $133.00 target price on shares of Sun Communities in a research report on Thursday, May 14th. Morgan Stanley dropped their target price on shares of Sun Communities from $135.00 to $126.00 and set an “equal weight” rating for the company in a report on Wednesday, August 12th. Wells Fargo & Company reduced their price target on shares of Sun Communities from $142.00 to $141.00 and set an “overweight” rating for the company in a research report on Monday, August 10th. Finally, Mizuho decreased their price target on Sun Communities from $143.00 to $137.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $139.42.

Sun Communities Stock Down 1.3%

SUI stock opened at $116.16 on Thursday. The company’s 50 day simple moving average is $121.30 and its 200-day simple moving average is $125.21. The firm has a market capitalization of $14.15 billion, a PE ratio of -16.38, a P/E/G ratio of 5.37 and a beta of 0.77. Sun Communities, Inc. has a 12 month low of $115.60 and a 12 month high of $137.85. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.52 and a quick ratio of 2.52.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $4.48 dividend on an annualized basis and a yield of 3.9%. Sun Communities’s dividend payout ratio is presently -63.19%.

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.