Wealthfront Advisers LLC Acquires 20,945 Shares of Sun Communities, Inc. $SUI

Wealthfront Advisers LLC grew its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 304.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,828 shares of the real estate investment trust’s stock after buying an additional 20,945 shares during the quarter. Wealthfront Advisers LLC’s holdings in Sun Communities were worth $3,590,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its position 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 acquiring an additional 109 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings in Sun Communities by 2,907.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 378 shares in the last quarter. AGF Management Ltd. raised its stake in shares of Sun Communities by 4.7% in the third quarter. AGF Management Ltd. now owns 26,147 shares of the real estate investment trust’s stock worth $3,373,000 after purchasing an additional 1,181 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Sun Communities by 5.9% in the third quarter. Jones Financial Companies Lllp now owns 3,261 shares of the real estate investment trust’s stock valued at $420,000 after purchasing an additional 182 shares in the last quarter. Finally, National Pension Service lifted its holdings in shares of Sun Communities by 88.8% in the third quarter. National Pension Service now owns 3,727 shares of the real estate investment trust’s stock valued at $481,000 after purchasing an additional 1,753 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Insider Buying and Selling

In related news, Director Gary A. Shiffman sold 156,875 shares of the company’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 value of $19,378,768.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.77% of the company’s stock.

Sun Communities Trading Up 1.5%

Shares of Sun Communities stock opened at $130.85 on Friday. The firm has a market cap of $16.18 billion, a PE ratio of 16.40, a P/E/G ratio of 4.25 and a beta of 0.90. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $137.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 6.01 and a quick ratio of 6.01. The stock has a fifty day moving average price of $125.18 and a 200-day moving average price of $125.92.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Wednesday, December 31st were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, December 31st. Sun Communities’s payout ratio is 52.13%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SUI shares. Deutsche Bank Aktiengesellschaft upgraded Sun Communities from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Tuesday, January 20th. Barclays reaffirmed an “overweight” rating and set a $144.00 price objective on shares of Sun Communities in a report on Tuesday, January 13th. Robert W. Baird increased their target price on shares of Sun Communities from $134.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. 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 research report on Thursday, January 8th. Finally, Royal Bank Of Canada boosted their price target on shares of Sun Communities from $142.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Sun Communities has an average rating of “Hold” and an average price target 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.