The Manufacturers Life Insurance Company bought a new stake in Sun Communities, Inc. (NYSE:SUI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 31,735 shares of the real estate investment trust's stock, valued at approximately $3,805,000.
A number of other large investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Sun Communities by 9.1% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,003 shares of the real estate investment trust's stock worth $127,000 after buying an additional 84 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Sun Communities by 3.2% during the fourth quarter. IFP Advisors Inc now owns 2,902 shares of the real estate investment trust's stock valued at $360,000 after acquiring an additional 89 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Sun Communities by 13.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 773 shares of the real estate investment trust's stock valued at $96,000 after acquiring an additional 90 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Sun Communities by 2.1% during the fourth quarter. CIBC Asset Management Inc now owns 5,467 shares of the real estate investment trust's stock worth $677,000 after acquiring an additional 112 shares during the last quarter. Finally, Orion Porfolio Solutions LLC increased its position in shares of Sun Communities by 1.3% during the second quarter. Orion Porfolio Solutions LLC now owns 9,335 shares of the real estate investment trust's stock worth $1,181,000 after acquiring an additional 117 shares during the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.
Sun Communities Stock Down 0.2%
NYSE:SUI opened at $121.19 on Wednesday. The company has a market capitalization of $14.76 billion, a price-to-earnings ratio of -17.09, a price-to-earnings-growth ratio of 5.54 and a beta of 0.77. Sun Communities, Inc. has a one year low of $115.90 and a one year high of $137.85. The stock has a 50-day simple moving average of $121.45 and a 200 day simple moving average of $125.69. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.52 and a current ratio of 2.52.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on SUI. Wells Fargo & Company reduced their price target on Sun Communities from $142.00 to $141.00 and set an "overweight" rating for the company in a report on Monday, August 10th. Odeon Capital Group set a $135.00 price objective on Sun Communities in a report on Thursday, July 9th. Barclays upped their target price on Sun Communities from $146.00 to $147.00 and gave the company an "overweight" rating in a research report on Monday, August 17th. Jefferies Financial Group raised shares of Sun Communities to a "strong-buy" rating in a research report on Wednesday, July 22nd. Finally, Colliers Securities upgraded shares of 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 equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $139.42.
Check Out Our Latest Stock Analysis on Sun Communities
Insider Buying and Selling
In other Sun Communities news, Director Gary A. Shiffman sold 25,031 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total transaction of $3,002,718.76. Following the transaction, the director owned 857,761 shares of the company's stock, valued at $102,897,009.56. This trade represents a 2.84% decrease in their position. 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 corporate insiders.
Sun Communities Company Profile
(
Free Report)
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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