NEOS Investment Management LLC Buys 5,821 Shares of Sun Communities, Inc. $SUI

NEOS Investment Management LLC grew its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 101.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,534 shares of the real estate investment trust’s stock after purchasing an additional 5,821 shares during the period. NEOS Investment Management LLC’s holdings in Sun Communities were worth $1,488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Elevation Point Wealth Partners LLC bought a new stake in Sun Communities in the 2nd quarter valued at about $30,000. MAI Capital Management raised its position in shares of Sun Communities by 164.4% during the second quarter. MAI Capital Management now owns 267 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 166 shares during the period. Assetmark Inc. raised its position in shares of 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 purchasing an additional 97 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of Sun Communities in the 3rd quarter worth $37,000. Finally, Farther Finance Advisors LLC grew its position in Sun Communities by 179.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 313 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 201 shares during the period. Institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Performance

Shares of SUI opened at $130.85 on Friday. 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’s fifty day moving average price is $125.91 and its two-hundred day moving average price is $126.22. The firm has a market cap of $16.18 billion, a PE ratio of 16.40, a PEG ratio of 4.26 and a beta of 0.90.

Sun Communities Dividend Announcement

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

Insider Buying and Selling at Sun Communities

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 shares were sold at an average price of $123.53, for a total transaction of $19,378,768.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.77% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Barclays restated an “overweight” rating and set a $144.00 price objective on shares of Sun Communities in a report on Tuesday, January 13th. Jefferies Financial Group set a $142.00 price objective on shares of Sun Communities and gave the stock a “buy” rating in a report on Monday, November 3rd. Morgan Stanley dropped their price target on shares of Sun Communities from $139.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 25th. Wall Street Zen upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Finally, Wells Fargo & Company upped their price objective on shares of Sun Communities from $132.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Sun Communities currently has a consensus rating of “Hold” and an average target price of $137.46.

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.