Nisa Investment Advisors LLC increased its stake in Sun Communities, Inc. (NYSE: SUI – Get Rating) by 3.5% in the fourth quarter, according to the company’s latest 13F filings with the U.S. Securities and Exchange Commission. The company owned his 48,082 shares of real estate investment trust shares after purchasing an additional 1,633 of his shares during the quarter. Nisa Investment Advisors LLC’s holdings in Sun Communities were valued at $6,876,000 as of the most recent filing with the Securities and Exchange Commission.
Several other large investors have also increased or decreased their stakes in SUI. Accurate Wealth Management LLC purchased new shares of Sun Communities in the fourth quarter for a value of approximately $27,000. Eagle Bay Advisors LLC purchased new shares of Sun Communities in the second quarter for a value of approximately $27,000. Huntington National Bank increased its Sun Communities stock position by 850.0% in the third quarter. Huntington National Bank now owns 209 shares of the real estate investment trust worth $28,000 after acquiring an additional 187 shares last quarter. CVA Family Office LLC increased its position in Sun Communities by 571.4% in the third quarter. CVA Family Office LLC now owns 235 real estate investment trust shares worth $32,000 after purchasing an additional 200 shares last quarter. Finally, Bessemer Group Inc. increased its position in Sun Communities by 820.0% in the third quarter. Bessemer Group Inc. now owns 276 shares of real estate investment trust stock valued at $37,000 after purchasing an additional 246 shares last quarter. Institutional investors own 93.31% of the company’s shares.
Wall Street analyst opinion
SUI has been the subject of many recent research reports. Wells Fargo & Company began covering Sun Communities in an investigative report on Wednesday, March 29th. They issued an “equal-weighted” rating and a target price for the company of $151.00. Truist Financial lowered its target price on Sun Communities from $166.00 to $163.00, giving the company a ‘buy’ rating in its research report on Friday, March 31st. Barclays lowered its target price for Sun Communities from $185.00 to $168.00 and set the company’s rating to Overweight in its research report on Monday, April 10th. StockNews.com upgraded Sun Communities to a “sell” rating in its research report on Tuesday, March 21st. Finally, JMP Securities reaffirmed its “above the market” rating and set a $160.00 price target on Sun Communities stock in its research notes on Wednesday, March 8th. One equity research analyst gave the stock a sell rating, two assigned a hold rating, and seven assigned a buy rating. Based on MarketBeat data, the company has an average rating of “moderate buy” and an average target price of $164.50.
In other news, director Clunet R. Lewis sold 1,500 shares of the company in a transaction that took place on Monday, February 27th. The shares sold for an average of $148.51, and the total transaction value he had was $222,765.00. Following the transaction, the directors now own directly 26,900 shares of the Company’s stock valued at $3,994,919. The transaction was disclosed in legal documents to the Securities and Exchange Commission, available at this link. The insider owns his 2.25% of the company’s shares.
Sun Community Price Performance
Sun Communities shares opened Friday at $139.62. The company has a debt to equity ratio of 0.89, a current ratio of 2.11 and a quick ratio of 2.11. Sun Communities, Inc. has a one-year low of $117.63 and a one-year high of $190.57. The stock has a market cap of $17.37 billion, a P/E ratio of 70.52, a P/E ratio of 2.87, and a beta of 0.71. The business has a 50-day simple moving average of $141.79 and a 200-day simple moving average of $141.36.
Sun Communities Increases Dividend
The company recently announced a quarterly dividend, which was paid out on Monday, April 17th. Dividends of $0.93 per share were paid to shareholders of record on Friday, March 31. The ex-dividend date was Thursday, March 30. This is an increase from Sun Communities’ previous quarterly dividend of $0.88. This represents his $3.72 dividend and his 2.66% dividend yield on an annualized basis. Sun Communities has a payout percentage of 187.88%.
Sun Community Profile
Sun Communities, Inc provides property management services. The Company operates through the following segments: Manufactured Home Communities, Recreational Vehicles, and Marinas. The Manufactured Home Communities segment owns, operates and develops Manufactured Housing Communities and is in the business of acquiring, operating and developing communities to provide housing solutions.
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