Aberdeen Group plc Acquires 14,437 Shares of Sun Communities, Inc. $SUI

Aberdeen Group plc lifted its stake in Sun Communities, Inc. (NYSE:SUI) by 7.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 209,790 shares of the real estate investment trust’s stock after acquiring an additional 14,437 shares during the period. Aberdeen Group plc’s holdings in Sun Communities were worth $27,086,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Elevation Point Wealth Partners LLC purchased a new stake in Sun Communities during the 2nd quarter worth about $30,000. MAI Capital Management increased 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 valued at $34,000 after buying an additional 166 shares during the period. Assetmark Inc. lifted its holdings in shares of Sun Communities by 55.7% in the third quarter. Assetmark Inc. now owns 271 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 97 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Sun Communities in the third quarter valued at approximately $37,000. Finally, Farther Finance Advisors LLC grew its stake in Sun Communities by 179.5% during the third quarter. Farther Finance Advisors LLC now owns 313 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 201 shares in the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on SUI. Deutsche Bank Aktiengesellschaft upgraded shares of Sun Communities from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Tuesday, January 20th. Truist Financial increased their price objective on Sun Communities from $141.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Royal Bank Of Canada lifted their price objective on Sun Communities from $142.00 to $143.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Robert W. Baird boosted their target price on Sun Communities from $134.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. Finally, Wall Street Zen raised Sun Communities from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $137.46.

Sun Communities Stock Performance

NYSE SUI opened at $131.67 on Wednesday. Sun Communities, Inc. has a 52-week low of $109.22 and a 52-week high of $137.77. The company has a fifty day moving average of $125.46 and a 200-day moving average of $126.13. The company has a market capitalization of $16.28 billion, a P/E ratio of 16.50, a P/E/G ratio of 4.31 and a beta of 0.90. The company has a debt-to-equity ratio of 0.58, a quick ratio of 6.01 and a current ratio of 6.01.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Stockholders 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 was Wednesday, December 31st. Sun Communities’s dividend payout ratio is presently 52.13%.

Insider Activity at Sun Communities

In related news, Director Gary A. Shiffman sold 156,875 shares of the business’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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.89% of the company’s stock.

Sun Communities 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.