National Pension Service Has $3.03 Million Stock Holdings in Sun Communities, Inc. $SUI

National Pension Service increased its position in Sun Communities, Inc. (NYSE:SUI) by 164.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,236 shares of the real estate investment trust’s stock after purchasing an additional 15,678 shares during the quarter. National Pension Service’s holdings in Sun Communities were worth $3,026,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Fulcrum Asset Management LLP bought a new position in Sun Communities during the third quarter worth about $27,000. Wiser Advisor Group LLC bought a new stake in Sun Communities in the third quarter valued at approximately $46,000. Prosperity Bancshares Inc acquired a new stake in shares of Sun Communities in the fourth quarter valued at approximately $48,000. Oslo Pensjonsforsikring AS acquired a new stake in shares of Sun Communities in the first quarter valued at approximately $49,000. Finally, Allworth Financial LP boosted its stake in shares of Sun Communities by 141.6% during the 4th quarter. Allworth Financial LP now owns 430 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 252 shares during the period. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Sun Communities news, Director Gary Shiffman sold 25,031 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total transaction of $3,002,718.76. Following the transaction, the director owned 857,761 shares in the company, valued at $102,897,009.56. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.58% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on SUI. Jefferies Financial Group raised Sun Communities to a “strong-buy” rating in a report on Wednesday, July 22nd. Wall Street Zen downgraded Sun Communities from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Bank of America raised shares of Sun Communities from an “underperform” rating to a “neutral” rating and set a $140.00 price objective for the company in a research report on Thursday, August 27th. Colliers Securities upgraded shares of Sun Communities from a “neutral” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Friday, May 22nd. Finally, Barclays increased their price objective on shares of Sun Communities from $146.00 to $147.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Sun Communities currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.30.

Sun Communities Price Performance

Sun Communities stock opened at $114.58 on Monday. The company has a market capitalization of $13.96 billion, a price-to-earnings ratio of -16.16, a PEG ratio of 5.22 and a beta of 0.77. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.70. Sun Communities, Inc. has a 12 month low of $113.80 and a 12 month high of $137.85. The stock’s 50 day moving average is $120.95 and its 200-day moving average is $124.98.

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Sun Communities’s dividend payout ratio is currently -63.19%.

About Sun Communities

Sun Communities, Inc (NYSE:SUI) is a real estate investment trust that owns, operates and develops residential and recreational properties. Its portfolio is centered on manufactured housing communities, where residents typically lease sites for manufactured homes, as well as recreational vehicle communities and resorts that provide short-term and long-term accommodations.

The company also operates marinas, offering services that may include boat slips, storage, fueling and related amenities.