125,631 Shares in Sun Communities, Inc. $SUI Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama purchased a new position in Sun Communities, Inc. (NYSE:SUI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 125,631 shares of the real estate investment trust’s stock, valued at approximately $13,917,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SUI. Gibbs Wealth Management increased its stake in Sun Communities by 3.7% in the 3rd quarter. Gibbs Wealth Management now owns 2,547 shares of the real estate investment trust’s stock worth $282,000 after buying an additional 90 shares in the last quarter. Capital Square LLC lifted its holdings in shares of Sun Communities by 1.8% in the third quarter. Capital Square LLC now owns 7,898 shares of the real estate investment trust’s stock worth $875,000 after buying an additional 136 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Sun Communities by 0.3% in the third quarter. Pictet Asset Management Holding SA now owns 50,099 shares of the real estate investment trust’s stock worth $5,550,000 after buying an additional 168 shares in the last quarter. Empowered Funds LLC grew its stake in Sun Communities by 5.3% during the first quarter. Empowered Funds LLC now owns 3,456 shares of the real estate investment trust’s stock valued at $435,000 after acquiring an additional 175 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in Sun Communities by 1.9% during the first quarter. Cetera Investment Advisers now owns 10,629 shares of the real estate investment trust’s stock valued at $1,339,000 after acquiring an additional 199 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Stock Down 0.8%

Shares of SUI opened at $117.29 on Friday. The firm has a fifty day moving average price of $115.45 and a 200-day moving average price of $123.14. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $14.00 billion, a P/E ratio of 16.92, a P/E/G ratio of 5.99 and a beta of 0.75. Sun Communities, Inc. has a 12-month low of $109.77 and a 12-month high of $137.85.

Sun Communities (NYSE:SUI) last issued its earnings results on Monday, October 26th. The real estate investment trust reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. The business had revenue of $558.20 million for the quarter, compared to the consensus estimate of $563.59 million. Sun Communities had a negative net margin of 36.00% and a positive return on equity of 5.02%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.28 EPS. Equities research analysts expect that Sun Communities, Inc. will post 7.03 earnings per share for the current year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $4.48 dividend on an annualized basis and a yield of 3.8%. Sun Communities’s dividend payout ratio (DPR) is -72.73%.

Analyst Ratings Changes

SUI has been the subject of several research reports. Robert W. Baird dropped their price objective on shares of Sun Communities from $138.00 to $131.00 and set a “neutral” rating for the company in a report on Tuesday. Wall Street Zen cut Sun Communities from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Truist Financial decreased their price target on shares of Sun Communities from $136.00 to $129.00 and set a “buy” rating on the stock in a research note on Tuesday, November 3rd. UBS Group restated a “neutral” rating on shares of Sun Communities in a report on Tuesday, October 27th. Finally, Royal Bank Of Canada lowered their price target on shares of Sun Communities from $148.00 to $140.00 and set an “outperform” rating for the company in a report on Tuesday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.65.

Sun Communities Company Profile

Sun Communities, Inc. is a real estate investment trust that owns and operates manufactured housing communities, recreational vehicle (RV) communities and resorts, and marinas. Its properties serve long-term residents as well as vacationers and boaters, with offerings that include home sites, RV accommodations, boat slips and related amenities. Founded in 1975, the company has expanded beyond its original manufactured housing business through acquisitions and development. Its portfolio spans the United States, Canada and the United Kingdom.