Quantinno Capital Management LP Has $24.23 Million Stake in Sun Communities, Inc. $SUI

Key Points

• Quantinno Capital Management increased its Sun Communities stake by 21.3% in the first quarter, owning 192,324 shares worth approximately $24.23 million. Institutional investors and hedge funds collectively own 99.59% of the REIT.
• Analysts maintain a generally positive outlook, with Sun Communities carrying a consensus “Moderate Buy” rating and an average price target of $139.98; recent targets range from $133 to $144.
• Sun Communities shares opened at $123.75, while the company pays a quarterly dividend of $1.12 per share, equivalent to an annualized $4.48 dividend and a 3.6% yield. Two company insiders recently sold shares.

Quantinno Capital Management LP increased its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 21.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 192,324 shares of the real estate investment trust's stock after buying an additional 33,719 shares during the period. Quantinno Capital Management LP owned 0.16% of Sun Communities worth $24,225,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Weiss Asset Management LP bought a new position in Sun Communities in the first quarter valued at approximately $365,000. OMERS ADMINISTRATION Corp raised its position in shares of Sun Communities by 30.7% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 5,880 shares of the real estate investment trust's stock valued at $741,000 after acquiring an additional 1,380 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Sun Communities by 18.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 87,098 shares of the real estate investment trust's stock valued at $10,971,000 after acquiring an additional 13,500 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Sun Communities during the 1st quarter valued at $3,791,000. Finally, Bank of Nova Scotia lifted its stake in shares of Sun Communities by 4.5% in the 1st quarter. Bank of Nova Scotia now owns 8,538 shares of the real estate investment trust's stock valued at $1,075,000 after purchasing an additional 364 shares during the period. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SUI. Mizuho reduced their price target on Sun Communities from $143.00 to $137.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 30th. Evercore reiterated an "outperform" rating and issued a $144.00 price objective on shares of Sun Communities in a report on Wednesday, April 29th. Weiss Ratings reissued a "hold (c)" rating on shares of Sun Communities in a research note on Wednesday. Deutsche Bank Aktiengesellschaft set a $133.00 target price on Sun Communities in a report on Thursday, May 14th. Finally, Wall Street Zen lowered Sun Communities from a "hold" rating to a "sell" rating in a research report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $139.98.

Insider Transactions at Sun Communities

In related news, Director Gary A. Shiffman sold 25,031 shares of the business'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 approximately $102,897,009.56. The trade was a 2.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Fernando Castro-Caratini sold 23,750 shares of the stock in a transaction that occurred on 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 sale, the executive vice president directly owned 9,998 shares of the company's stock, valued at approximately $1,244,051.14. The trade was a 70.37% 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.

Sun Communities Stock Performance

Shares of Sun Communities stock opened at $123.75 on Friday. The stock's fifty day simple moving average is $122.04 and its 200 day simple moving average is $126.43. The company has a current ratio of 2.52, a quick ratio of 3.39 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $15.07 billion, a PE ratio of -17.45, a PEG ratio of 4.03 and a beta of 0.79. Sun Communities, Inc. has a 12 month low of $115.90 and a 12 month high of $137.85.

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.6%. Sun Communities's dividend payout ratio (DPR) is currently -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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