Aurora Investment Managers LLC. Decreases Stock Position in Sun Communities, Inc. $SUI

Key Points

• Aurora Investment Managers cut its Sun Communities stake by 84.4% in the second quarter, selling 23,500 shares and retaining 4,338 shares valued at approximately $520,000.
• Institutional ownership remains substantial at 99.59%, with several major investors—including Norges Bank, Wellington Management and UBS—significantly increasing their positions.
• Sun Communities shares opened at $120.49, while the company maintains a quarterly dividend of $1.12, equivalent to a 3.7% yield. Analysts remain moderately bullish, with a consensus price target of $139.98.

Aurora Investment Managers LLC. cut its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 84.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,338 shares of the real estate investment trust's stock after selling 23,500 shares during the period. Aurora Investment Managers LLC.'s holdings in Sun Communities were worth $520,000 at the end of the most recent reporting period.

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

Sun Communities Stock Up 0.1%

Shares of SUI opened at $120.49 on Friday. The company has a market cap of $14.68 billion, a PE ratio of -16.99, a P/E/G ratio of 3.93 and a beta of 0.78. Sun Communities, Inc. has a 52-week low of $115.90 and a 52-week high of $137.85. The business has a fifty day moving average of $121.64 and a 200 day moving average of $126.24. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.70.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, June 30th. Sun Communities's dividend payout ratio is presently -63.19%.

Insider Activity at Sun Communities

In related news, EVP Fernando Castro-Caratini sold 23,750 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was 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 of the company's stock, valued at approximately $1,244,051.14. This trade represents a 70.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary A. Shiffman sold 25,031 shares of the company's stock in a transaction dated 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 transaction, the director owned 857,761 shares in the company, valued at approximately $102,897,009.56. The trade was a 2.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SUI. Truist Financial reduced their price target on Sun Communities from $141.00 to $138.00 and set a "buy" rating for the company in a research report on Friday, June 26th. Wall Street Zen cut Sun Communities from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Barclays cut their price objective on Sun Communities from $147.00 to $146.00 and set an "overweight" rating for the company in a research note on Tuesday, July 14th. Evercore reissued an "outperform" rating and issued a $144.00 target price on shares of Sun Communities in a report on Wednesday, April 29th. Finally, Mizuho decreased their target price on shares of Sun Communities from $143.00 to $137.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Sun Communities currently has a consensus rating of "Moderate Buy" and a consensus target price of $139.98.

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.

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