Van Hulzen Asset Management LLC Acquires New Holdings in Sun Communities, Inc. $SUI

Van Hulzen Asset Management LLC bought a new position in Sun Communities, Inc. (NYSE:SUI) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,685 shares of the real estate investment trust’s stock, valued at approximately $802,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Fulcrum Asset Management LLP bought a new position in shares of Sun Communities in the third quarter valued at approximately $27,000. Wiser Advisor Group LLC acquired a new position in Sun Communities in the 3rd quarter valued at $46,000. Prosperity Bancshares Inc bought a new position in Sun Communities in the 4th quarter worth $48,000. Oslo Pensjonsforsikring AS acquired a new position in Sun Communities during the 1st quarter worth $49,000. Finally, Allworth Financial LP boosted its holdings in Sun Communities by 141.6% during the fourth quarter. Allworth Financial LP now owns 430 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 252 shares during the period. Institutional investors own 99.59% of the company’s stock.

Insider Activity at Sun Communities

In related news, Director Gary A. Shiffman sold 25,031 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total value of $3,002,718.76. Following the completion of the transaction, the director directly owned 857,761 shares of the company’s stock, valued at $102,897,009.56. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SUI shares. Morgan Stanley lowered their price target on Sun Communities from $135.00 to $126.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 12th. Truist Financial decreased their target price on Sun Communities from $141.00 to $138.00 and set a “buy” rating for the company in a research note on Friday, June 26th. Deutsche Bank Aktiengesellschaft set a $133.00 target price on Sun Communities in a report on Thursday, May 14th. Barclays lifted their price target on Sun Communities from $146.00 to $147.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. Finally, Wells Fargo & Company cut their price target on Sun Communities from $142.00 to $141.00 and set an “overweight” rating for the company in a report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Sun Communities currently has an average rating of “Moderate Buy” and an average target price of $139.38.

Sun Communities Trading Up 1.3%

Shares of SUI opened at $123.30 on Tuesday. Sun Communities, Inc. has a 12-month low of $115.90 and a 12-month high of $137.85. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $15.02 billion, a price-to-earnings ratio of -17.39, a P/E/G ratio of 5.55 and a beta of 0.78. The stock’s 50-day moving average price is $121.06 and its 200 day moving average price is $125.82.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, June 30th. Sun Communities’s dividend payout ratio is presently -63.19%.

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.