Illinois Municipal Retirement Fund Cuts Position in Sun Communities, Inc. $SUI

Illinois Municipal Retirement Fund reduced its position in Sun Communities, Inc. (NYSE:SUI) by 11.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,176 shares of the real estate investment trust’s stock after selling 6,600 shares during the period. Illinois Municipal Retirement Fund’s holdings in Sun Communities were worth $6,473,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Elevation Point Wealth Partners LLC acquired a new position in Sun Communities during the second quarter valued at approximately $30,000. MAI Capital Management raised its stake in shares of Sun Communities by 164.4% in the 2nd quarter. MAI Capital Management now owns 267 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 166 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Sun Communities during the 3rd quarter valued at $37,000. Farther Finance Advisors LLC boosted its position in Sun Communities by 179.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 313 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 201 shares during the period. Finally, Cornerstone Planning Group LLC increased its holdings in Sun Communities by 2,907.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 378 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Insider Activity at Sun Communities

In related news, Director Gary A. Shiffman sold 156,875 shares of Sun Communities stock in a transaction dated 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.77% of the company’s stock.

Sun Communities Price Performance

SUI stock opened at $130.85 on Friday. The stock’s 50 day moving average is $125.18 and its two-hundred day moving average is $125.92. Sun Communities, Inc. has a 52-week low of $109.22 and a 52-week high of $137.77. The company has a market capitalization of $16.18 billion, a PE ratio of 16.40, a P/E/G ratio of 4.25 and a beta of 0.90. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.58.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Wednesday, December 31st were paid 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 was Wednesday, December 31st. Sun Communities’s dividend payout ratio is 52.13%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Royal Bank Of Canada boosted their price objective on Sun Communities from $142.00 to $143.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Morgan Stanley reduced their price target on 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sun Communities in a research report on Wednesday, January 21st. Truist Financial lifted their price objective on shares of Sun Communities from $141.00 to $142.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Finally, UBS Group upped their target price on shares of Sun Communities from $126.00 to $127.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.