Sun Communities, Inc. $SUI Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its holdings in Sun Communities, Inc. (NYSE:SUI) by 56.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,609 shares of the real estate investment trust’s stock after selling 4,588 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Sun Communities were worth $466,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Aew Capital Management L P increased its stake in shares of Sun Communities by 7.2% during the 2nd quarter. Aew Capital Management L P now owns 205,190 shares of the real estate investment trust’s stock valued at $25,954,000 after acquiring an additional 13,730 shares during the last quarter. Allstate Corp purchased a new stake in Sun Communities in the third quarter valued at approximately $659,000. Rakuten Investment Management Inc. acquired a new position in Sun Communities during the third quarter worth approximately $1,527,000. Baillie Gifford & Co. increased its position in Sun Communities by 26.6% during the third quarter. Baillie Gifford & Co. now owns 48,210 shares of the real estate investment trust’s stock worth $6,219,000 after purchasing an additional 10,127 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in Sun Communities by 4.8% during the second quarter. Daiwa Securities Group Inc. now owns 2,775,910 shares of the real estate investment trust’s stock worth $351,125,000 after purchasing an additional 128,334 shares during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Gary A. Shiffman sold 156,875 shares of the firm’s 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 Securities & Exchange Commission, which can be accessed through this link. 1.89% of the stock is owned by corporate insiders.

Sun Communities Trading Up 0.7%

SUI opened at $131.67 on Wednesday. The firm 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 firm’s 50 day moving average is $125.46 and its 200-day moving average is $126.13. Sun Communities, Inc. has a 52-week low of $109.22 and a 52-week high of $137.77. 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 company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Wednesday, December 31st were paid 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 yield of 3.2%. Sun Communities’s payout ratio is 52.13%.

Analyst Ratings Changes

Several analysts have recently issued reports on SUI shares. Truist Financial boosted 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. Morgan Stanley lowered their price target on Sun Communities from $139.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 25th. Robert W. Baird raised their price objective on Sun Communities from $134.00 to $136.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Deutsche Bank Aktiengesellschaft upgraded Sun Communities from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a report on Tuesday, January 20th. Finally, Royal Bank Of Canada raised their price target on shares of Sun Communities from $142.00 to $143.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $137.46.

About Sun Communities

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.