Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Sun Communities, Inc. (NYSE:SUI) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,926 shares of the real estate investment trust’s stock after acquiring an additional 394 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Sun Communities were worth $1,964,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Daiwa Securities Group Inc. raised its holdings in Sun Communities by 5,528.2% during the third quarter. Daiwa Securities Group Inc. now owns 1,372,942 shares of the real estate investment trust’s stock worth $193,050,000 after purchasing an additional 1,348,548 shares during the last quarter. PGGM Investments increased its stake in shares of Sun Communities by 22.9% during the 4th quarter. PGGM Investments now owns 2,390,391 shares of the real estate investment trust’s stock valued at $363,220,000 after acquiring an additional 445,815 shares during the last quarter. Aew Capital Management L P raised its stake in Sun Communities by 40.9% during the third quarter. Aew Capital Management L P now owns 672,413 shares of the real estate investment trust’s stock worth $94,548,000 after purchasing an additional 195,100 shares during the period. CI Investments Inc. boosted its holdings in Sun Communities by 117.6% in the third quarter. CI Investments Inc. now owns 265,350 shares of the real estate investment trust’s stock valued at $37,311,000 after acquiring an additional 143,392 shares during the last quarter. Finally, Strs Ohio grew its holdings in shares of Sun Communities by 25.1% during the 3rd quarter. Strs Ohio now owns 325,996 shares of the real estate investment trust’s stock worth $45,838,000 after purchasing an additional 65,476 shares during the period. Institutional investors own 85.95% of the company’s stock.
In related news, Director Clunet R. Lewis sold 900 shares of the stock in a transaction that occurred on Thursday, December 17th. The shares were sold at an average price of $149.55, for a total value of $134,595.00. Following the sale, the director now directly owns 27,900 shares in the company, valued at approximately $4,172,445. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.72% of the stock is owned by company insiders.
A number of analysts have recently issued reports on SUI shares. Zacks Investment Research lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Friday, January 22nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised Sun Communities from a “neutral” rating to a “buy” rating in a report on Tuesday, December 15th. Smith Barney Citigroup upgraded Sun Communities from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 15th. Finally, Robert W. Baird initiated coverage on shares of Sun Communities in a research note on Wednesday, January 20th. They issued an “outperform” rating and a $155.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $155.14.
SUI stock opened at $148.82 on Monday. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $145.91 and its 200-day moving average is $144.94. Sun Communities, Inc. has a 1-year low of $95.34 and a 1-year high of $173.98. The firm has a market cap of $16.01 billion, a P/E ratio of 94.19, a P/E/G ratio of 3.29 and a beta of 0.53.
The business also recently declared a quarterly dividend, which was paid on Friday, January 15th. Stockholders of record on Thursday, December 31st were paid a dividend of $0.79 per share. The ex-dividend date was Wednesday, December 30th. This represents a $3.16 annualized dividend and a dividend yield of 2.12%. Sun Communities’s dividend payout ratio (DPR) is currently 64.23%.
Sun Communities Company Profile
Sun Communities, Inc is a REIT that, as of September 30, 2020, owned, operated, or had an interest in a portfolio of 432 communities comprising nearly 146,000 developed sites in 32 states and Ontario, Canada.
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