UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,536,249 shares of the real estate investment trust's stock after acquiring an additional 31,497 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.26% of Sun Communities worth $184,212,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Sun Communities in the 2nd quarter valued at about $1,649,715,000. Norges Bank purchased a new stake in shares of Sun Communities in the 4th quarter worth approximately $753,364,000. State Street Corp boosted its stake in shares of Sun Communities by 4.2% during the third quarter. State Street Corp now owns 5,383,984 shares of the real estate investment trust's stock valued at $699,862,000 after purchasing an additional 214,634 shares in the last quarter. Wellington Management Group LLP increased its holdings in Sun Communities by 12.4% during the fourth quarter. Wellington Management Group LLP now owns 5,039,870 shares of the real estate investment trust's stock valued at $624,490,000 after buying an additional 554,075 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Sun Communities by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,338,358 shares of the real estate investment trust's stock valued at $288,937,000 after buying an additional 9,539 shares during the period. Hedge funds and other institutional investors own 99.59% of the company's stock.
Insiders Place Their Bets
In related news, Director Gary A. Shiffman sold 25,031 shares of the company's stock in a transaction dated 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 directly owned 857,761 shares of the company's stock, valued at $102,897,009.56. This represents a 2.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.58% of the stock is currently owned by company insiders.
Sun Communities Stock Performance
Shares of SUI opened at $121.19 on Wednesday. Sun Communities, Inc. has a 12 month low of $115.90 and a 12 month high of $137.85. The stock has a fifty day moving average price of $121.45 and a 200-day moving average price of $125.69. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.70. The firm has a market cap of $14.76 billion, a PE ratio of -17.09, a P/E/G ratio of 5.54 and a beta of 0.78.
Analyst Upgrades and Downgrades
SUI has been the subject of a number of analyst reports. Mizuho lowered their target price on Sun Communities from $143.00 to $137.00 and set an "outperform" rating for the company in a report on Tuesday, June 30th. 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 research report on Monday, August 10th. Wall Street Zen downgraded Sun Communities from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Weiss Ratings lowered Sun Communities from a "hold (c)" rating to a "sell (d+)" rating in a research note on Wednesday, August 12th. Finally, Jefferies Financial Group upgraded shares of Sun Communities to a "strong-buy" rating in a report on Wednesday, July 22nd. Two 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $139.42.
Check Out Our Latest Analysis on SUI
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.
Further Reading
Want to see what other hedge funds are holding SUI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Communities, Inc. (NYSE:SUI - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Sun Communities, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sun Communities wasn't on the list.
While Sun Communities currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
