Metis Global Partners LLC Grows Holdings in Sun Communities, Inc. $SUI

Metis Global Partners LLC boosted its position in Sun Communities, Inc. (NYSE:SUI) by 32.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 28,479 shares of the real estate investment trust’s stock after purchasing an additional 7,053 shares during the period. Metis Global Partners LLC’s holdings in Sun Communities were worth $3,674,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tacita Capital Inc boosted its stake in shares of Sun Communities by 6.9% in the 3rd quarter. Tacita Capital Inc now owns 8,708 shares of the real estate investment trust’s stock worth $1,123,000 after buying an additional 561 shares during the last quarter. Assetmark Inc. lifted its holdings in Sun Communities by 55.7% during the third 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 period. Advisors Asset Management Inc. boosted its position in Sun Communities by 0.7% in the third quarter. Advisors Asset Management Inc. now owns 18,923 shares of the real estate investment trust’s stock worth $2,441,000 after purchasing an additional 137 shares during the last quarter. Wealthfront Advisers LLC grew its stake in Sun Communities by 304.3% in the 3rd quarter. Wealthfront Advisers LLC now owns 27,828 shares of the real estate investment trust’s stock valued at $3,590,000 after purchasing an additional 20,945 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in Sun Communities by 19.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 665 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 109 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Insider Activity at Sun Communities

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

Sun Communities Price Performance

SUI opened at $130.85 on Friday. The firm has a 50-day moving average price of $125.18 and a 200-day moving average price of $125.92. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $137.77. 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 company has a market capitalization of $16.18 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 4.25 and a beta of 0.90.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Wednesday, December 31st were given a dividend of $1.04 per share. The ex-dividend date was Wednesday, December 31st. This represents a $4.16 annualized dividend and a dividend yield of 3.2%. Sun Communities’s dividend payout ratio is currently 52.13%.

Analysts Set New Price Targets

A number of research firms have recently commented on SUI. UBS Group lifted their target price on Sun Communities from $126.00 to $127.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Robert W. Baird raised their price objective on shares of Sun Communities from $134.00 to $136.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Wall Street Zen upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Morgan Stanley decreased 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 research note on Tuesday, November 25th. Finally, Barclays reiterated an “overweight” rating and issued a $144.00 price objective on shares of Sun Communities in a research note on Tuesday, January 13th. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.