Sun Communities, Inc. $SUI Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its holdings in Sun Communities, Inc. (NYSE:SUI) by 11.6% in the third quarter, HoldingsChannel.com reports. The firm owned 50,176 shares of the real estate investment trust’s stock after selling 6,600 shares during the period. Illinois Municipal Retirement Fund’s holdings in Sun Communities were worth $6,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in SUI. AQR Capital Management LLC boosted its holdings in shares of Sun Communities by 17.8% in the 1st quarter. AQR Capital Management LLC now owns 12,076 shares of the real estate investment trust’s stock valued at $1,554,000 after buying an additional 1,827 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Sun Communities by 21.1% in the first quarter. Goldman Sachs Group Inc. now owns 195,339 shares of the real estate investment trust’s stock worth $25,128,000 after acquiring an additional 33,981 shares during the last quarter. Empowered Funds LLC lifted its holdings in Sun Communities by 32.5% in the first quarter. Empowered Funds LLC now owns 3,376 shares of the real estate investment trust’s stock worth $434,000 after acquiring an additional 829 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Sun Communities in the first quarter valued at approximately $362,000. Finally, Allianz Asset Management GmbH boosted its stake in Sun Communities by 8.2% in the second quarter. Allianz Asset Management GmbH now owns 125,847 shares of the real estate investment trust’s stock valued at $15,918,000 after acquiring an additional 9,555 shares during the period. Institutional investors own 99.59% of the company’s stock.

Insider Buying and Selling at Sun Communities

In related news, Director Gary A. Shiffman sold 156,875 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $123.53, for a total value of $19,378,768.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.77% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SUI. Deutsche Bank Aktiengesellschaft upgraded Sun Communities from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research report on Tuesday, January 20th. Truist Financial upped their price objective on Sun Communities from $141.00 to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Jefferies Financial Group set a $142.00 target price on Sun Communities and gave the company a “buy” rating in a research note on Monday, November 3rd. Wells Fargo & Company boosted their price target on shares of Sun Communities from $132.00 to $133.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Finally, Robert W. Baird upped their price target on shares of Sun Communities from $134.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sun Communities has a consensus rating of “Hold” and a consensus target price of $137.46.

Sun Communities Stock Up 1.5%

SUI opened at $130.85 on Friday. The stock’s 50 day moving average price is $125.18 and its 200 day moving average price is $125.92. The company has a debt-to-equity ratio of 0.58, a current ratio of 6.01 and a quick ratio of 6.01. The stock has a market cap of $16.18 billion, a P/E ratio of 16.40, a P/E/G ratio of 4.25 and a beta of 0.90. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month high of $137.77.

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Wednesday, December 31st were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, December 31st. Sun Communities’s dividend payout ratio (DPR) is 52.13%.

Sun Communities 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.