NEOS Investment Management LLC Has $1.49 Million Stake in Sun Communities, Inc. $SUI

NEOS Investment Management LLC increased its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 101.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,534 shares of the real estate investment trust’s stock after buying an additional 5,821 shares during the quarter. NEOS Investment Management LLC’s holdings in Sun Communities were worth $1,488,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Sun Communities by 9.1% during 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 purchasing an additional 84 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Sun Communities by 55.7% during the 3rd quarter. Assetmark Inc. now owns 271 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 97 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Sun Communities by 19.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 665 shares of the real estate investment trust’s stock worth $86,000 after acquiring an additional 109 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Sun Communities by 0.5% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 23,102 shares of the real estate investment trust’s stock worth $2,922,000 after acquiring an additional 113 shares in the last quarter. Finally, Orion Porfolio Solutions LLC increased its stake in Sun Communities by 1.3% in the second quarter. Orion Porfolio Solutions LLC now owns 9,335 shares of the real estate investment trust’s stock valued at $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.

Analyst Upgrades and Downgrades

SUI has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on Sun Communities from $132.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Jefferies Financial Group set a $142.00 price objective on shares of Sun Communities and gave the stock a “buy” rating in a research report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Sun Communities in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft raised Sun Communities from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a report on Tuesday, January 20th. Finally, Wall Street Zen raised Sun Communities from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $137.46.

Sun Communities Stock Performance

NYSE SUI opened at $130.85 on Friday. The company has a market capitalization of $16.18 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 4.26 and a beta of 0.90. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.58. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $137.77. The stock has a fifty day simple moving average of $125.91 and a 200 day simple moving average of $126.22.

Sun Communities Dividend Announcement

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

Insider Activity

In related news, Director Gary A. Shiffman sold 156,875 shares of the business’s stock in a transaction on 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 document filed with the SEC, which is available at this hyperlink. Company insiders own 1.77% of the company’s stock.

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.