Jupiter Topco LLC Invests $3.08 Million in Sun Communities, Inc. $SUI

Key Points

• Jupiter Topco LLC purchased 25,696 shares of Sun Communities, valued at approximately $3.08 million, establishing a new position during the second quarter.
• Institutional ownership remains very high at 99.59%, with several firms—including Goldman Sachs and AQR Capital Management—recently increasing their stakes.
• Sun Communities shares opened at $121.41, while analysts maintained a consensus “Moderate Buy” rating and an average price target of $139.42; ratings ranged from “Sell” to “Strong Buy.”

Jupiter Topco LLC bought a new position in Sun Communities, Inc. (NYSE:SUI - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 25,696 shares of the real estate investment trust's stock, valued at approximately $3,080,000.

Several other institutional investors and hedge funds also recently bought and sold shares of SUI. AQR Capital Management LLC raised its stake in shares of Sun Communities by 17.8% in the first quarter. AQR Capital Management LLC now owns 12,076 shares of the real estate investment trust's stock worth $1,554,000 after buying an additional 1,827 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Sun Communities by 21.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 195,339 shares of the real estate investment trust's stock valued at $25,128,000 after acquiring an additional 33,981 shares during the period. Empowered Funds LLC increased its holdings in Sun Communities by 32.5% in the 1st quarter. Empowered Funds LLC now owns 3,376 shares of the real estate investment trust's stock worth $434,000 after acquiring an additional 829 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Sun Communities in the 1st quarter worth approximately $362,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Sun Communities by 26.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 673 shares of the real estate investment trust's stock worth $85,000 after acquiring an additional 141 shares during the period. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Sun Communities Stock Down 0.0%

NYSE SUI opened at $121.41 on Thursday. The stock's 50 day moving average is $121.48 and its 200 day moving average is $125.64. 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, Inc. has a 12 month low of $115.90 and a 12 month high of $137.85. The stock has a market cap of $14.79 billion, a PE ratio of -17.12, a P/E/G ratio of 5.54 and a beta of 0.77.

Analyst Ratings Changes

A number of equities analysts have weighed in on SUI shares. Royal Bank Of Canada lowered shares of Sun Communities from a "moderate buy" rating to a "hold" rating in a research report on Monday, August 10th. Wells Fargo & Company decreased their price objective on shares of Sun Communities from $142.00 to $141.00 and set an "overweight" rating on the stock in a research report on Monday, August 10th. Weiss Ratings cut shares of Sun Communities from a "hold (c)" rating to a "sell (d+)" rating in a research note on Wednesday, August 12th. Odeon Capital Group set a $135.00 target price on shares of Sun Communities in a report on Thursday, July 9th. Finally, Colliers Securities upgraded Sun Communities from a "neutral" rating to a "buy" rating and set a $150.00 price target for the company in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Sun Communities has a consensus rating of "Moderate Buy" and a consensus price target of $139.42.

Insider Activity

In other news, 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 transaction of $3,002,718.76. Following the sale, the director owned 857,761 shares in the company, valued at $102,897,009.56. This trade represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.58% of the stock is currently owned by insiders.

About Sun Communities

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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