California State Teachers Retirement System Sells 5,781 Shares of Sun Communities, Inc. $SUI

California State Teachers Retirement System reduced its stake in Sun Communities, Inc. (NYSE:SUI) by 3.0% during the first quarter, HoldingsChannel reports. The firm owned 184,862 shares of the real estate investment trust’s stock after selling 5,781 shares during the period. California State Teachers Retirement System’s holdings in Sun Communities were worth $23,285,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new position in Sun Communities in the 4th quarter worth approximately $753,364,000. Wellington Management Group LLP raised its position in shares of Sun Communities by 1,224.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,485,795 shares of the real estate investment trust’s stock valued at $578,668,000 after buying an additional 4,147,015 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Sun Communities by 37,933.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,474,162 shares of the real estate investment trust’s stock valued at $182,663,000 after buying an additional 1,470,286 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of Sun Communities by 20,348.9% during the 4th quarter. M&T Bank Corp now owns 498,339 shares of the real estate investment trust’s stock worth $61,749,000 after acquiring an additional 495,902 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Sun Communities by 152.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 767,190 shares of the real estate investment trust’s stock worth $95,063,000 after acquiring an additional 463,312 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on SUI shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Sun Communities in a research report on Wednesday. Wells Fargo & Company dropped their price target on Sun Communities from $150.00 to $142.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Colliers Securities raised Sun Communities from a “neutral” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Friday, May 22nd. Deutsche Bank Aktiengesellschaft set a $133.00 price objective on Sun Communities in a report on Thursday, May 14th. Finally, Royal Bank Of Canada increased their price objective on Sun Communities from $147.00 to $148.00 and gave the company an “outperform” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $139.98.

Insiders Place Their Bets

In other Sun Communities news, EVP Fernando Castro-Caratini sold 23,750 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the completion of the sale, the executive vice president directly owned 9,998 shares in the company, valued at $1,244,051.14. This represents a 70.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gary A. Shiffman sold 25,031 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $119.96, for a total value of $3,002,718.76. Following the transaction, the director directly owned 857,761 shares in the company, valued at $102,897,009.56. This trade represents a 2.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.58% of the stock is owned by company insiders.

Sun Communities Trading Down 0.5%

Shares of SUI opened at $123.75 on Friday. The firm has a market cap of $15.07 billion, a price-to-earnings ratio of -17.45, a PEG ratio of 4.03 and a beta of 0.79. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.39 and a current ratio of 2.52. Sun Communities, Inc. has a fifty-two week low of $115.90 and a fifty-two week high of $137.85. The firm has a 50 day moving average price of $122.04 and a 200-day moving average price of $126.43.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Tuesday, June 30th. Sun Communities’s dividend payout ratio (DPR) is presently -63.19%.

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.