Universal Beteiligungs und Servicegesellschaft mbH trimmed its stake in Sun Communities, Inc. (NYSE:SUI – Free Report) by 49.8% during the third quarter, Holdings Channel reports. The fund owned 274,134 shares of the real estate investment trust’s stock after selling 272,246 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Sun Communities were worth $35,363,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of SUI. Aew Capital Management L P lifted 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 buying an additional 13,730 shares in the last quarter. American National Bank & Trust bought a new stake in Sun Communities during the 2nd quarter valued at $759,000. Daiwa Securities Group Inc. lifted its position in shares of 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 acquiring an additional 128,334 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Sun Communities by 8.0% during the second quarter. GAMMA Investing LLC now owns 1,131 shares of the real estate investment trust’s stock worth $143,000 after acquiring an additional 84 shares in the last quarter. Finally, Bayforest Capital Ltd bought a new position in shares of Sun Communities in the third quarter worth $767,000. 99.59% of the stock is owned by institutional investors.
Sun Communities Price Performance
Shares of NYSE SUI opened at $125.09 on Thursday. The stock’s 50-day simple moving average is $125.39 and its two-hundred day simple moving average is $125.68. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $137.77. The firm has a market capitalization of $15.47 billion, a P/E ratio of 15.68, a P/E/G ratio of 4.16 and a beta of 0.90. 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 business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Wednesday, December 31st will be issued a $1.04 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.3%. Sun Communities’s dividend payout ratio is presently 52.13%.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on SUI. Robert W. Baird boosted their price objective on Sun Communities from $134.00 to $136.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Deutsche Bank Aktiengesellschaft raised 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. Truist Financial increased their price target on shares of Sun Communities from $141.00 to $142.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Barclays restated an “overweight” rating and issued a $144.00 price objective on shares of Sun Communities in a research report on Tuesday, January 13th. Finally, Wells Fargo & Company upped their target price on shares of Sun Communities from $132.00 to $133.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $137.46.
Check Out Our Latest Stock Report on Sun Communities
Insider Buying and Selling at Sun Communities
In related news, Director Gary A. Shiffman sold 156,875 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $123.53, for a total value of $19,378,768.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Clunet R. Lewis sold 4,000 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $126.24, for a total value of $504,960.00. Following the completion of the transaction, the director directly owned 26,000 shares in the company, valued at approximately $3,282,240. This represents a 13.33% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.77% of the company’s stock.
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.
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