First National Bank of Omaha Takes $2.34 Million Position in Sun Communities, Inc. $SUI

First National Bank of Omaha acquired a new stake in shares of Sun Communities, Inc. (NYSE:SUI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,151 shares of the real estate investment trust’s stock, valued at approximately $2,341,000.

A number of other hedge funds also recently bought and sold shares of SUI. Norges Bank purchased a new stake in shares of Sun Communities during the 2nd quarter worth $925,926,000. Dodge & Cox grew its stake in Sun Communities by 4.0% in the second quarter. Dodge & Cox now owns 14,198,760 shares of the real estate investment trust’s stock valued at $1,796,001,000 after purchasing an additional 550,940 shares during the last quarter. Vanguard Group Inc. raised its holdings in Sun Communities by 1.4% in the third quarter. Vanguard Group Inc. now owns 18,289,956 shares of the real estate investment trust’s stock worth $2,359,404,000 after purchasing an additional 249,501 shares in the last quarter. Lasalle Investment Management Securities LLC lifted its position in shares of Sun Communities by 27.6% during the second quarter. Lasalle Investment Management Securities LLC now owns 746,432 shares of the real estate investment trust’s stock valued at $94,416,000 after buying an additional 161,589 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Sun Communities by 4.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,775,910 shares of the real estate investment trust’s stock valued at $351,125,000 after buying an additional 128,334 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Down 1.1%

Shares of SUI stock opened at $129.97 on Thursday. The stock’s 50-day simple moving average is $125.61 and its 200-day simple moving average is $126.16. The company has a debt-to-equity ratio of 0.58, a quick ratio of 6.01 and a current ratio of 6.01. The firm has a market capitalization of $16.07 billion, a PE ratio of 16.29, a P/E/G ratio of 4.33 and a beta of 0.90. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $137.77.

Sun Communities Dividend Announcement

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

Analysts Set New Price Targets

SUI has been the subject of several recent analyst reports. Wells Fargo & Company boosted 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 note on Monday, November 10th. Jefferies Financial Group set a $142.00 price target on shares of Sun Communities and gave the stock a “buy” rating in a report on Monday, November 3rd. Morgan Stanley decreased their price objective on Sun Communities from $139.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft raised Sun Communities from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Tuesday, January 20th. Finally, Truist Financial upped their target price on Sun Communities from $141.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Six 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. According to MarketBeat, Sun Communities presently has an average rating of “Hold” and a consensus price target of $137.46.

Insider Transactions at Sun Communities

In other Sun Communities news, Director Gary A. Shiffman sold 156,875 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $123.53, for a total transaction of $19,378,768.75. The sale was disclosed in a filing with the SEC, which is available through this link. 1.77% of the stock is owned by corporate insiders.

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.