Danske Bank A S Purchases New Shares in Sun Communities, Inc. $SUI

Danske Bank A S acquired a new position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 74,003 shares of the real estate investment trust's stock, valued at approximately $8,874,000. Danske Bank A S owned about 0.06% of Sun Communities as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fulcrum Asset Management LLP bought a new position in Sun Communities in the 3rd quarter valued at $27,000. Wiser Advisor Group LLC bought a new stake in Sun Communities during the 3rd quarter worth about $46,000. Prosperity Bancshares Inc bought a new stake in Sun Communities during the 4th quarter worth about $48,000. Oslo Pensjonsforsikring AS acquired a new position in Sun Communities during the 1st quarter valued at about $49,000. Finally, Allworth Financial LP lifted its position in Sun Communities by 141.6% during the 4th quarter. Allworth Financial LP now owns 430 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 252 shares during the period. Institutional investors and hedge funds own 99.59% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SUI. Morgan Stanley lowered their price target on shares of Sun Communities from $135.00 to $126.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 12th. Jefferies Financial Group raised shares of Sun Communities to a "strong-buy" rating in a research note on Wednesday, July 22nd. Weiss Ratings lowered shares of Sun Communities from a "hold (c)" rating to a "sell (d+)" rating in a report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft set a $133.00 target price on shares of Sun Communities in a research report on Thursday, May 14th. Finally, Mizuho cut their price target on 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 research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sun Communities currently has an average rating of "Moderate Buy" and an average target price of $139.38.

Insider Buying and Selling at Sun Communities

In other news, EVP Fernando Castro-Caratini sold 23,750 shares of the company's stock in a transaction dated 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 transaction, the executive vice president directly owned 9,998 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary A. Shiffman sold 25,031 shares of Sun Communities stock in a transaction that occurred on 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 completion of the sale, the director directly owned 857,761 shares in the company, valued at approximately $102,897,009.56. This represents a 2.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.58% of the stock is owned by corporate insiders.

Sun Communities Trading Down 0.6%

Shares of NYSE SUI opened at $121.55 on Friday. Sun Communities, Inc. has a twelve month low of $115.90 and a twelve month high of $137.85. The stock has a market cap of $14.80 billion, a price-to-earnings ratio of -17.14, a P/E/G ratio of 5.58 and a beta of 0.78. 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 company's fifty day moving average is $121.08 and its 200-day moving average is $125.85.

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 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 -63.19%.

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.

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