Public Employees Retirement System of Ohio grew its position in shares of Sun Communities, Inc. (NYSE:SUI) by 12.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,960 shares of the real estate investment trust’s stock after buying an additional 13,968 shares during the quarter. Public Employees Retirement System of Ohio owned 0.16% of Sun Communities worth $10,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whitnell & Co. bought a new position in shares of Sun Communities during the 3rd quarter valued at $139,000. Nationwide Fund Advisors lifted its holdings in shares of Sun Communities by 18.4% during the 2nd quarter. Nationwide Fund Advisors now owns 13,635 shares of the real estate investment trust’s stock valued at $1,196,000 after buying an additional 2,122 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Sun Communities by 17.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 621,487 shares of the real estate investment trust’s stock valued at $54,499,000 after buying an additional 92,444 shares during the period. BlackRock Inc. lifted its holdings in shares of Sun Communities by 9.7% during the 2nd quarter. BlackRock Inc. now owns 5,132,844 shares of the real estate investment trust’s stock valued at $450,100,000 after buying an additional 454,187 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Sun Communities by 70.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 589,768 shares of the real estate investment trust’s stock valued at $51,717,000 after buying an additional 244,273 shares during the period. 93.58% of the stock is currently owned by hedge funds and other institutional investors.
Sun Communities, Inc. (NYSE:SUI) opened at $92.16 on Wednesday. Sun Communities, Inc. has a twelve month low of $73.74 and a twelve month high of $96.08. The company has a market capitalization of $7,518.50, a price-to-earnings ratio of 23.11, a P/E/G ratio of 3.62 and a beta of 0.27.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.68 dividend on an annualized basis and a yield of 2.91%. Sun Communities’s dividend payout ratio is presently 362.16%.
SUI has been the topic of several research analyst reports. Royal Bank of Canada increased their price target on Sun Communities from $95.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday, October 26th. Zacks Investment Research cut Sun Communities from a “hold” rating to a “sell” rating in a report on Thursday, October 19th. Robert W. Baird reaffirmed a “buy” rating and issued a $95.00 target price on shares of Sun Communities in a report on Friday, September 8th. ValuEngine raised Sun Communities from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Finally, Evercore ISI raised Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 target price on the stock in a report on Monday, December 4th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $93.00.
In other Sun Communities news, Director Clunet R. Lewis sold 1,292 shares of the firm’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $86.52, for a total transaction of $111,783.84. Following the sale, the director now directly owns 18,800 shares of the company’s stock, valued at $1,626,576. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jonathan Colman sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $85.44, for a total value of $256,320.00. Following the sale, the executive vice president now directly owns 33,985 shares in the company, valued at $2,903,678.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,584 shares of company stock worth $1,010,694. Insiders own 4.15% of the company’s stock.
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Sun Communities Company Profile
Sun Communities, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is a fully integrated real estate company, which, together with its affiliates and predecessors, has been in the business of acquiring, operating, developing, and expanding manufactured housing (MH) and recreational vehicle (RV).
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