7,762 Shares in Sun Communities, Inc. $SUI Purchased by Capital Square LLC

Capital Square LLC purchased a new stake in Sun Communities, Inc. (NYSE:SUI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,762 shares of the real estate investment trust’s stock, valued at approximately $923,000.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Sun Communities during the 2nd quarter worth approximately $1,649,715,000. Norges Bank bought a new position in shares of Sun Communities in the fourth quarter valued at approximately $753,364,000. State Street Corp lifted its holdings in shares of Sun Communities by 4.2% in the third quarter. State Street Corp now owns 5,383,984 shares of the real estate investment trust’s stock valued at $699,862,000 after purchasing an additional 214,634 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Sun Communities by 12.4% during the fourth quarter. Wellington Management Group LLP now owns 5,039,870 shares of the real estate investment trust’s stock valued at $624,490,000 after buying an additional 554,075 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Sun Communities by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,338,358 shares of the real estate investment trust’s stock valued at $288,937,000 after buying an additional 9,539 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Insider Buying and Selling at Sun Communities

In related news, EVP Fernando Castro-Caratini sold 23,750 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $124.43, for a total value of $2,955,212.50. Following the transaction, the executive vice president directly owned 9,998 shares of the company’s stock, valued at approximately $1,244,051.14. The trade was a 70.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary A. Shiffman sold 25,031 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $119.96, for a total transaction of $3,002,718.76. Following the transaction, the director owned 857,761 shares of the company’s stock, valued at approximately $102,897,009.56. The trade was a 2.84% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SUI shares. Jefferies Financial Group raised Sun Communities to a “strong-buy” rating in a research report on Wednesday, July 22nd. Barclays lifted their price objective on shares of Sun Communities from $146.00 to $147.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Deutsche Bank Aktiengesellschaft set a $133.00 target price on shares of Sun Communities in a research note on Thursday, May 14th. Wall Street Zen downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Wells Fargo & Company dropped their price target on shares of Sun Communities from $142.00 to $141.00 and set an “overweight” rating on the stock in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Sun Communities currently has a consensus rating of “Moderate Buy” and an average price target of $139.38.

Sun Communities Stock Performance

SUI stock opened at $121.55 on Monday. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.70. The firm has a market cap of $14.80 billion, a PE ratio of -17.14, a P/E/G ratio of 5.55 and a beta of 0.78. The business has a 50 day moving average of $121.08 and a 200-day moving average of $125.85. Sun Communities, Inc. has a 12-month low of $115.90 and a 12-month high of $137.85.

Sun Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Tuesday, June 30th. Sun Communities’s dividend payout ratio is -63.19%.

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.