Presima Securities ULC Trims Holdings in Sun Communities, Inc. $SUI

Presima Securities ULC decreased its position in shares of Sun Communities, Inc. (NYSE:SUI) by 30.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 85,808 shares of the real estate investment trust’s stock after selling 37,112 shares during the quarter. Sun Communities comprises approximately 3.0% of Presima Securities ULC’s portfolio, making the stock its 15th biggest holding. Presima Securities ULC’s holdings in Sun Communities were worth $11,069,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SUI. First National Bank of Omaha purchased a new position in shares of Sun Communities during the 3rd quarter worth $2,341,000. NEOS Investment Management LLC lifted its position in Sun Communities by 101.9% in the third quarter. NEOS Investment Management LLC now owns 11,534 shares of the real estate investment trust’s stock valued at $1,488,000 after buying an additional 5,821 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Sun Communities during the third quarter worth about $695,000. Vanguard Group Inc. increased its position in shares of Sun Communities by 1.4% during the third 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. Finally, Aberdeen Group plc increased its position in shares of Sun Communities by 7.4% during the third quarter. Aberdeen Group plc now owns 209,790 shares of the real estate investment trust’s stock valued at $27,086,000 after acquiring an additional 14,437 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Price Performance

Shares of SUI opened at $129.97 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 6.01 and a quick ratio of 6.01. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $137.77. The stock has a market cap of $16.07 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 4.33 and a beta of 0.90. The firm has a fifty day moving average price of $125.61 and a 200 day moving average price of $126.16.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Wednesday, December 31st were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Wednesday, December 31st. Sun Communities’s dividend payout ratio (DPR) is currently 52.13%.

Insider Activity at Sun Communities

In other news, Director Gary A. Shiffman sold 156,875 shares of Sun Communities 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 legal filing with the SEC, which can be accessed through this hyperlink. 1.77% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on SUI. Truist Financial upped their price objective 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. Morgan Stanley reduced their price target on shares of Sun Communities from $139.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 25th. Royal Bank Of Canada increased 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. Jefferies Financial Group set a $142.00 price objective on Sun Communities and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, Barclays reissued an “overweight” rating and set a $144.00 target price on shares of Sun Communities in a research note on Tuesday, January 13th. Six investment 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’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $137.46.

Sun Communities Company 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.