Deutsche Bank AG Invests $108.43 Million in Sun Communities, Inc. $SUI

Deutsche Bank AG acquired a new stake in shares of Sun Communities, Inc. (NYSE:SUI) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 904,260 shares of the real estate investment trust’s stock, valued at approximately $108,430,000.

Other large investors have also modified their holdings of the company. Fulcrum Asset Management LLP bought a new position in Sun Communities in the third quarter worth $27,000. Wiser Advisor Group LLC bought a new stake in Sun Communities in the 3rd quarter valued at $46,000. Prosperity Bancshares Inc bought a new stake in Sun Communities in the 4th quarter valued at $48,000. Oslo Pensjonsforsikring AS bought a new stake in Sun Communities in the 1st quarter valued at $49,000. Finally, Allworth Financial LP raised its stake in shares of Sun Communities by 141.6% in the 4th quarter. Allworth Financial LP now owns 430 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 252 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sun Communities

In other Sun Communities news, Director Gary A. Shiffman sold 25,031 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $119.96, for a total value of $3,002,718.76. Following the completion of the transaction, the director directly owned 857,761 shares of the company’s stock, valued at approximately $102,897,009.56. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Fernando Castro-Caratini sold 23,750 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the transaction, the executive vice president owned 9,998 shares in the company, valued at $1,244,051.14. The trade was a 70.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.58% of the company’s stock.

Sun Communities Stock Performance

Sun Communities stock opened at $122.23 on Thursday. The stock has a 50-day simple moving average of $121.26 and a 200 day simple moving average of $125.91. The stock has a market capitalization of $14.89 billion, a price-to-earnings ratio of -17.24, a P/E/G ratio of 5.48 and a beta of 0.78. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.70. Sun Communities, Inc. has a 12-month low of $115.90 and a 12-month high of $137.85.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, June 30th. Sun Communities’s dividend payout ratio (DPR) is presently -63.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Colliers Securities raised shares of Sun Communities from a “neutral” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Friday, May 22nd. Jefferies Financial Group raised shares of Sun Communities to a “strong-buy” rating in a research note on Wednesday, July 22nd. Evercore reissued an “outperform” rating and issued a $144.00 price target on shares of Sun Communities in a research report on Wednesday, April 29th. Barclays raised their price target on shares of Sun Communities from $146.00 to $147.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Mizuho decreased their price objective on Sun Communities from $143.00 to $137.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Sun Communities currently has an average rating of “Moderate Buy” and a consensus target price of $139.38.

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.