Nykredit A S Purchases New Holdings in Sun Communities, Inc. $SUI

Nykredit A S purchased a new stake in Sun Communities, Inc. (NYSE:SUI) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 37,733 shares of the real estate investment trust’s stock, valued at approximately $4,525,000.

Several other institutional investors have also recently made changes to their positions in SUI. BlackRock Inc. acquired a new stake in Sun Communities in the second quarter valued at $1,649,715,000. Norges Bank acquired a new position in shares of Sun Communities during the 4th quarter worth about $753,364,000. Wellington Management Group LLP increased its stake 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 worth $578,668,000 after purchasing an additional 4,147,015 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 worth $182,663,000 after purchasing an additional 1,470,286 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Sun Communities in the 2nd quarter valued at about $156,841,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Insiders Place Their Bets

In other Sun Communities news, Director Gary Shiffman sold 25,031 shares of the 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 of the company’s stock, valued at $102,897,009.56. This represents a 2.84% decrease in their position. The transaction was disclosed in a legal 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 Stock Performance

NYSE SUI opened at $119.46 on Monday. The stock has a market cap of $14.55 billion, a PE ratio of -16.85, a P/E/G ratio of 5.45 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 firm has a 50-day moving average of $121.47 and a 200-day moving average of $125.48. Sun Communities, Inc. has a 52-week low of $115.90 and a 52-week high of $137.85.

Wall Street Analyst Weigh In

SUI has been the subject of several recent analyst reports. Bank of America upgraded shares of Sun Communities from an “underperform” rating to a “neutral” rating and set a $140.00 target price for the company in a research note on Thursday, August 27th. Morgan Stanley dropped their price objective on Sun Communities from $135.00 to $126.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 12th. Wall Street Zen cut Sun Communities from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Royal Bank Of Canada downgraded Sun Communities from a “moderate buy” rating to a “hold” rating in a research note on Monday, August 10th. Finally, Wells Fargo & Company decreased their target price on Sun Communities from $142.00 to $141.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. Two equities 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 issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $139.42.

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.