Sun Communities, Inc. $SUI Position Lifted by Greenland Capital Management LP

Greenland Capital Management LP raised its stake in Sun Communities, Inc. (NYSE:SUI) by 165.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 7,000 shares of the real estate investment trust’s stock after acquiring an additional 4,364 shares during the period. Greenland Capital Management LP’s holdings in Sun Communities were worth $903,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in Sun Communities in the second quarter worth about $925,926,000. Dodge & Cox grew its position in shares of Sun Communities by 4.0% in the 2nd quarter. Dodge & Cox now owns 14,198,760 shares of the real estate investment trust’s stock worth $1,796,001,000 after acquiring an additional 550,940 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Sun Communities by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 18,289,956 shares of the real estate investment trust’s stock valued at $2,359,404,000 after acquiring an additional 249,501 shares during the last quarter. Lasalle Investment Management Securities LLC increased its holdings in shares of Sun Communities by 27.6% in the 2nd quarter. Lasalle Investment Management Securities LLC now owns 746,432 shares of the real estate investment trust’s stock valued at $94,416,000 after acquiring an additional 161,589 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Sun Communities by 4.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,775,910 shares of the real estate investment trust’s stock valued at $351,125,000 after acquiring an additional 128,334 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Insider Transactions at Sun Communities

In related news, Director Gary A. Shiffman sold 156,875 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $123.53, for a total value of $19,378,768.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Jefferies Financial Group set a $142.00 price objective on shares of Sun Communities and gave the stock a “buy” rating in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Sun Communities in a research report on Wednesday, January 21st. UBS Group boosted their price objective on shares of Sun Communities from $126.00 to $127.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Royal Bank Of Canada raised their target price on shares of Sun Communities from $142.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Finally, Wells Fargo & Company upped their target price on Sun Communities from $132.00 to $133.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Sun Communities presently has a consensus rating of “Hold” and a consensus target price of $137.46.

Sun Communities Trading Up 0.3%

Sun Communities stock opened at $131.28 on Tuesday. 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. The firm has a market capitalization of $16.24 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 4.31 and a beta of 0.90. The firm has a 50-day moving average price of $126.06 and a two-hundred day moving average price of $126.26.

Sun Communities Dividend Announcement

The firm 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 was Wednesday, December 31st. This represents a $4.16 annualized dividend and a dividend yield of 3.2%. Sun Communities’s payout ratio is currently 52.13%.

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.