National Pension Service Purchases 15,678 Shares of Sun Communities, Inc. $SUI

Key Points

• National Pension Service increased its Sun Communities stake by 164% in the second quarter, purchasing 15,678 additional shares and bringing its holdings to 25,236 shares valued at approximately $3.03 million.
• Institutional investors own 99.59% of Sun Communities, while director Gary Shiffman sold 25,031 shares for about $3.0 million and retains a significant personal stake.
• Sun Communities announced a quarterly dividend of $1.12 per share, equivalent to a $4.48 annualized payout and a 3.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $139.30, above the reported $114.58 share price.

National Pension Service grew its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 164.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,236 shares of the real estate investment trust's stock after buying an additional 15,678 shares during the period. National Pension Service's holdings in Sun Communities were worth $3,026,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SUI. Fulcrum Asset Management LLP bought a new position in Sun Communities during the third quarter worth about $27,000. Wiser Advisor Group LLC acquired a new stake in shares of Sun Communities during the third quarter worth about $46,000. Prosperity Bancshares Inc bought a new position in shares of Sun Communities during the 4th quarter valued at about $48,000. Oslo Pensjonsforsikring AS bought a new position in shares of Sun Communities during the 1st quarter valued at about $49,000. Finally, Allworth Financial LP grew its position in shares of Sun Communities by 141.6% in 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 own 99.59% of the company's stock.

Insider Buying and Selling

In other Sun Communities news, Director Gary Shiffman sold 25,031 shares of the firm's stock in a transaction that occurred on 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 transaction, the director directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.58% of the company's stock.

Sun Communities Trading Up 0.1%

Shares of NYSE:SUI opened at $114.58 on Monday. The company's 50-day moving average price is $120.95 and its two-hundred day moving average price is $124.98. Sun Communities, Inc. has a one year low of $113.80 and a one year high of $137.85. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.52 and a quick ratio of 2.52. The stock has a market capitalization of $13.96 billion, a PE ratio of -16.16, a price-to-earnings-growth ratio of 5.22 and a beta of 0.77.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.9%. The ex-dividend date is Wednesday, September 30th. Sun Communities's dividend payout ratio is presently -63.19%.

Analyst Ratings Changes

A number of research firms recently issued reports on SUI. Bank of America raised Sun Communities from an "underperform" rating to a "neutral" rating and set a $140.00 target price for the company in a research note on Thursday, August 27th. Odeon Capital Group set a $135.00 price target on shares of Sun Communities in a report on Thursday, July 9th. Royal Bank Of Canada downgraded shares of Sun Communities from a "moderate buy" rating to a "hold" rating in a research report on Monday, August 10th. Morgan Stanley dropped their price objective on shares of Sun Communities from $135.00 to $126.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 12th. Finally, Colliers Securities raised shares of Sun Communities from a "neutral" rating to a "buy" rating and set a $150.00 price objective on the stock in a research report on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $139.30.

About Sun Communities

Sun Communities, Inc NYSE: SUI is a real estate investment trust that owns, operates and develops residential and recreational properties. Its portfolio is centered on manufactured housing communities, where residents typically lease sites for manufactured homes, as well as recreational vehicle communities and resorts that provide short-term and long-term accommodations.

The company also operates marinas, offering services that may include boat slips, storage, fueling and related amenities.

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