Rhumbline Advisers Sells 9,579 Shares of Sun Communities, Inc. $SUI

Rhumbline Advisers trimmed its position in Sun Communities, Inc. (NYSE:SUI) by 5.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 156,556 shares of the real estate investment trust’s stock after selling 9,579 shares during the period. Rhumbline Advisers’ holdings in Sun Communities were worth $20,196,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of SUI. Elevation Point Wealth Partners LLC acquired a new position in Sun Communities in the 2nd quarter worth about $30,000. MAI Capital Management grew its holdings 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 worth $34,000 after purchasing an additional 166 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Sun Communities in the third quarter valued at approximately $37,000. Farther Finance Advisors LLC increased its stake in shares of Sun Communities by 179.5% in the third quarter. Farther Finance Advisors LLC now owns 313 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 201 shares during the period. Finally, Cornerstone Planning Group LLC increased its position 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 acquiring an additional 378 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Up 1.5%

Shares of Sun Communities stock opened at $130.85 on Tuesday. The stock’s 50-day moving average is $125.29 and its 200 day moving average is $126.08. Sun Communities, Inc. has a one year low of $109.22 and a one year high of $137.77. The firm has a market cap of $16.18 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 4.31 and a beta of 0.90. The company has a debt-to-equity ratio of 0.58, a current ratio of 6.01 and a quick ratio of 6.01.

Sun Communities Announces Dividend

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

Analyst Ratings Changes

SUI has been the topic of several analyst reports. Jefferies Financial Group set a $142.00 price objective on shares of Sun Communities and gave the stock a “buy” rating in a research note on Monday, November 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Sun Communities in a research report on Wednesday, January 21st. UBS Group increased their price target on Sun Communities from $126.00 to $127.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Barclays reaffirmed an “overweight” rating and issued a $144.00 price objective on shares of Sun Communities in a research note on Tuesday, January 13th. Finally, Morgan Stanley reduced their target price on Sun Communities from $139.00 to $135.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 25th. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $137.46.

Insider Buying and Selling at Sun Communities

In related news, Director Gary A. Shiffman sold 156,875 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $123.53, for a total transaction of $19,378,768.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.89% of the stock is owned by corporate insiders.

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.