First National Bank of Omaha Takes $2.30 Million Position in Sun Communities, Inc. $SUI

Key Points

• First National Bank of Omaha acquired 19,212 shares of Sun Communities worth approximately $2.30 million in the second quarter. Institutional investors collectively own 99.59% of the REIT.
• Sun Communities pays a quarterly dividend of $1.12 per share, equivalent to an annualized $4.48 dividend and a 3.7% yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $139.38, compared with the stock’s reported price of $122.23; however, company insiders recently sold shares.

First National Bank of Omaha purchased a new position in Sun Communities, Inc. (NYSE:SUI - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 19,212 shares of the real estate investment trust's stock, valued at approximately $2,304,000.

Other large investors also recently bought and sold shares of the company. Fulcrum Asset Management LLP bought a new stake in Sun Communities during the third quarter worth about $27,000. Wiser Advisor Group LLC purchased a new stake in Sun Communities in the third quarter worth about $46,000. Prosperity Bancshares Inc purchased a new stake in Sun Communities in the fourth quarter worth about $48,000. Oslo Pensjonsforsikring AS bought a new position in shares of Sun Communities during the first quarter valued at approximately $49,000. Finally, Allworth Financial LP increased its stake in shares of Sun Communities by 141.6% during the fourth 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 in the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Stock Performance

Shares of SUI opened at $122.23 on Thursday. The company has a market cap of $14.89 billion, a price-to-earnings ratio of -17.24, a P/E/G ratio of 5.48 and a beta of 0.78. The business's fifty day simple moving average is $121.26 and its two-hundred day simple moving average is $125.91. Sun Communities, Inc. has a 12 month low of $115.90 and a 12 month high of $137.85. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.70.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $4.48 annualized dividend and a dividend yield of 3.7%. Sun Communities's dividend payout ratio (DPR) is -63.19%.

Insider Buying and Selling at Sun Communities

In related news, EVP Fernando Castro-Caratini sold 23,750 shares of Sun Communities stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $124.43, for a total value of $2,955,212.50. Following the completion of the sale, the executive vice president directly owned 9,998 shares in the company, valued at approximately $1,244,051.14. This trade represents a 70.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary A. Shiffman sold 25,031 shares of Sun Communities stock in a transaction dated Wednesday, June 24th. The stock was 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 owned 857,761 shares of the company's stock, valued at $102,897,009.56. The trade was a 2.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.58% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SUI. Royal Bank Of Canada lowered shares of Sun Communities from a "moderate buy" rating to a "hold" rating in a report on Monday, August 10th. Odeon Capital Group set a $135.00 price objective on Sun Communities in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft set a $133.00 price objective on Sun Communities in a research note on Thursday, May 14th. Wells Fargo & Company dropped 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. Finally, Colliers Securities raised Sun Communities from a "neutral" rating to a "buy" rating and set a $150.00 target price on the stock in a research note on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $139.38.

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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