Jupiter Topco LLC Invests $3.08 Million in Sun Communities, Inc. $SUI

Jupiter Topco LLC bought a new position in Sun Communities, Inc. (NYSE:SUI) during the second quarter, Holdings Channel reports. The firm bought 25,696 shares of the real estate investment trust’s stock, valued at approximately $3,080,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SUI. Hsbc Holdings PLC purchased a new position in Sun Communities during the 2nd quarter valued at approximately $68,747,000. Canada Pension Plan Investment Board purchased a new stake in shares of Sun Communities during the 2nd quarter worth approximately $156,841,000. Legal & General Group Plc bought a new position in shares of Sun Communities during the 2nd quarter valued at approximately $122,737,000. The Manufacturers Life Insurance Company bought a new position in shares of Sun Communities during the 2nd quarter valued at approximately $3,805,000. Finally, Van Hulzen Asset Management LLC purchased a new position in shares of Sun Communities in the second quarter valued at $802,000. 99.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SUI has been the topic of several research reports. Morgan Stanley reduced their price target on shares of 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. Mizuho lowered their price objective on shares of Sun Communities from $143.00 to $137.00 and set an “outperform” rating for the company in a research report on Tuesday, June 30th. 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 note on Thursday, August 27th. Royal Bank Of Canada cut shares of Sun Communities from a “moderate buy” rating to a “hold” rating in a research report on Monday, August 10th. Finally, Barclays increased their price target on shares of Sun Communities from $146.00 to $147.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $139.42.

Sun Communities Stock Performance

NYSE SUI opened at $121.41 on Thursday. The company has a market cap of $14.79 billion, a P/E ratio of -17.12, a P/E/G ratio of 5.54 and a beta of 0.77. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.52 and a current ratio of 2.52. The business’s 50 day moving average price is $121.48 and its 200-day moving average price is $125.64. Sun Communities, Inc. has a fifty-two week low of $115.90 and a fifty-two week high of $137.85.

Insider Transactions at Sun Communities

In other Sun Communities news, Director Gary A. Shiffman sold 25,031 shares of Sun Communities stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $119.96, for a total transaction 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. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.58% of the stock is currently owned by corporate insiders.

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.