Sanctuary Advisors LLC Takes Position in Sun Communities, Inc. $SUI

Sanctuary Advisors LLC purchased a new position in Sun Communities, Inc. (NYSE:SUI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,902 shares of the real estate investment trust’s stock, valued at approximately $1,307,000.

Other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Sun Communities by 9.1% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,003 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 84 shares during the period. IFP Advisors Inc grew its stake in Sun Communities by 3.2% in the 4th quarter. IFP Advisors Inc now owns 2,902 shares of the real estate investment trust’s stock worth $360,000 after acquiring an additional 89 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Sun Communities by 13.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 773 shares of the real estate investment trust’s stock worth $96,000 after acquiring an additional 90 shares during the period. CIBC Asset Management Inc increased its position in shares of Sun Communities by 2.1% during the fourth quarter. CIBC Asset Management Inc now owns 5,467 shares of the real estate investment trust’s stock worth $677,000 after acquiring an additional 112 shares during the period. Finally, Orion Porfolio Solutions LLC raised its stake in shares of Sun Communities by 1.3% during the second quarter. Orion Porfolio Solutions LLC now owns 9,335 shares of the real estate investment trust’s stock valued at $1,181,000 after acquiring an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Insider Activity at Sun Communities

In related news, Director Gary A. Shiffman sold 25,031 shares of the company’s 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 completion of the sale, the director directly owned 857,761 shares in the company, valued at $102,897,009.56. This represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.58% of the company’s stock.

Sun Communities Stock Down 1.5%

Sun Communities stock opened at $123.36 on Friday. The business has a fifty day moving average of $121.26 and a two-hundred day moving average of $125.80. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.70. The firm has a market cap of $15.03 billion, a P/E ratio of -17.40, a P/E/G ratio of 5.71 and a beta of 0.78. Sun Communities, Inc. has a twelve month low of $115.90 and a twelve month high of $137.85.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Sun Communities’s payout ratio is presently -63.19%.

Analysts Set New Price Targets

SUI has been the subject of a number of research reports. Barclays boosted their price target on Sun Communities from $146.00 to $147.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Odeon Capital Group set a $135.00 price objective on Sun Communities in a report on Thursday, July 9th. Royal Bank Of Canada lowered Sun Communities from a “moderate buy” rating to a “hold” rating in a research report on Monday, August 10th. Mizuho lowered their target price on Sun Communities from $143.00 to $137.00 and set an “outperform” rating for the company in a report on Tuesday, June 30th. Finally, Deutsche Bank Aktiengesellschaft set a $133.00 price target on Sun Communities in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.42.

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.