Nisa Investment Advisors LLC Sells 22,053 Shares of Sun Communities, Inc. $SUI

Nisa Investment Advisors LLC lowered its position in shares of Sun Communities, Inc. (NYSE:SUI) by 89.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,638 shares of the real estate investment trust’s stock after selling 22,053 shares during the period. Nisa Investment Advisors LLC’s holdings in Sun Communities were worth $295,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of SUI. Diversify Advisory Services LLC boosted its stake in Sun Communities by 14.6% during the 3rd quarter. Diversify Advisory Services LLC now owns 2,472 shares of the real estate investment trust’s stock valued at $287,000 after purchasing an additional 315 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Sun Communities by 4.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 45,125 shares of the real estate investment trust’s stock valued at $4,999,000 after purchasing an additional 1,866 shares during the period. Investment Research Partners LLC acquired a new stake in shares of Sun Communities in the third quarter valued at approximately $201,000. Capital Square LLC increased its stake in shares of Sun Communities by 1.8% in the third quarter. Capital Square LLC now owns 7,898 shares of the real estate investment trust’s stock valued at $875,000 after purchasing an additional 136 shares during the period. Finally, State of Alaska Department of Revenue raised its holdings in shares of Sun Communities by 18.3% during the third quarter. State of Alaska Department of Revenue now owns 72,050 shares of the real estate investment trust’s stock valued at $7,980,000 after buying an additional 11,154 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Wall Street Analyst Weigh In

SUI has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price objective on Sun Communities from $141.00 to $136.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Bank of America raised Sun Communities from an “underperform” rating to a “neutral” rating and set a $140.00 target price on the stock in a research note on Thursday, August 27th. Wall Street Zen downgraded Sun Communities from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Jefferies Financial Group upgraded Sun Communities to a “strong-buy” rating in a research report on Wednesday, July 22nd. Finally, Morgan Stanley decreased their price target on Sun Communities from $135.00 to $126.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $137.05.

Sun Communities Trading Up 1.9%

Sun Communities stock opened at $112.31 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.52 and a current ratio of 4.68. The firm has a market cap of $13.41 billion, a price-to-earnings ratio of -18.23, a price-to-earnings-growth ratio of 4.72 and a beta of 0.76. Sun Communities, Inc. has a 1 year low of $109.77 and a 1 year high of $137.85. The firm’s 50 day moving average price is $116.34 and its two-hundred day moving average price is $123.53.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.05. Sun Communities had a positive return on equity of 5.02% and a negative net margin of 36.00%. The company had revenue of $558.20 million for the quarter, compared to analysts’ expectations of $563.59 million. During the same quarter in the prior year, the company earned $2.28 earnings per share. The firm’s revenue was up .4% on a year-over-year basis. On average, research analysts predict that Sun Communities, Inc. will post 7.01 EPS for the current fiscal year.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.0%. Sun Communities’s payout ratio is -72.73%.

Sun Communities Profile

Sun Communities, Inc (NYSE:SUI) is a real estate investment trust that owns, operates and develops manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company provides residential sites for manufactured homes, seasonal and long-term RV accommodations, and marina facilities that include boat slips and related storage services.

Sun Communities also offers vacation accommodations and amenities such as swimming pools, clubhouses, recreational facilities and community services.