CI Investments Inc. Buys 25,735 Shares of Sun Communities, Inc. (NYSE:SUI)


Share on StockTwits

CI Investments Inc. lifted its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 9.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 291,085 shares of the real estate investment trust’s stock after acquiring an additional 25,735 shares during the quarter. CI Investments Inc. owned approximately 0.27% of Sun Communities worth $44,230,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Sun Communities by 8.6% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 54,378 shares of the real estate investment trust’s stock valued at $8,263,000 after acquiring an additional 4,318 shares during the period. ProShare Advisors LLC lifted its holdings in Sun Communities by 8.0% in the 4th quarter. ProShare Advisors LLC now owns 13,137 shares of the real estate investment trust’s stock worth $1,996,000 after purchasing an additional 973 shares in the last quarter. Profund Advisors LLC lifted its holdings in Sun Communities by 13.4% in the 4th quarter. Profund Advisors LLC now owns 1,822 shares of the real estate investment trust’s stock worth $277,000 after purchasing an additional 216 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Sun Communities by 11.3% in the 4th quarter. Principal Financial Group Inc. now owns 3,582,420 shares of the real estate investment trust’s stock worth $544,348,000 after purchasing an additional 364,666 shares in the last quarter. Finally, FDx Advisors Inc. lifted its holdings in Sun Communities by 4.2% in the 4th quarter. FDx Advisors Inc. now owns 3,685 shares of the real estate investment trust’s stock worth $560,000 after purchasing an additional 149 shares in the last quarter. Institutional investors own 85.95% of the company’s stock.

A number of research analysts recently commented on SUI shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised Sun Communities from a “neutral” rating to a “buy” rating in a report on Tuesday, December 15th. Smith Barney Citigroup raised Sun Communities from a “neutral” rating to a “buy” rating in a report on Tuesday, December 15th. Robert W. Baird started coverage on Sun Communities in a report on Wednesday, January 20th. They set an “outperform” rating and a $155.00 price objective on the stock. Finally, Zacks Investment Research cut Sun Communities from a “hold” rating to a “sell” rating in a report on Friday, January 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $155.14.

NYSE SUI opened at $151.67 on Tuesday. The company has a market cap of $16.31 billion, a P/E ratio of 95.99, a P/E/G ratio of 3.29 and a beta of 0.53. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.94 and a current ratio of 2.94. The business’s 50 day moving average price is $146.38 and its 200-day moving average price is $145.35. Sun Communities, Inc. has a fifty-two week low of $95.34 and a fifty-two week high of $172.88.

Sun Communities (NYSE:SUI) last released its earnings results on Tuesday, February 16th. The real estate investment trust reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.15. Sun Communities had a return on equity of 4.26% and a net margin of 11.76%. As a group, equities analysts predict that Sun Communities, Inc. will post 5.04 EPS for the current year.

In other Sun Communities news, Director Clunet R. Lewis sold 900 shares of the company’s stock in a transaction on Thursday, December 17th. The stock was sold at an average price of $149.55, for a total value of $134,595.00. Following the transaction, the director now owns 27,900 shares of the company’s stock, valued at approximately $4,172,445. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.72% of the company’s stock.

Sun Communities Profile

Sun Communities, Inc is a REIT that, as of September 30, 2020, owned, operated, or had an interest in a portfolio of 432 communities comprising nearly 146,000 developed sites in 32 states and Ontario, Canada.

See Also: How is a price target determined?

Want to see what other hedge funds are holding SUI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Communities, Inc. (NYSE:SUI).

Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

Receive News & Ratings for Sun Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Communities and related companies with MarketBeat.com's FREE daily email newsletter.