First National Bank of Omaha Invests $2.34 Million in Sun Communities, Inc. $SUI

First National Bank of Omaha bought a new stake in shares of Sun Communities, Inc. (NYSE:SUI) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 18,151 shares of the real estate investment trust’s stock, valued at approximately $2,341,000.

A number of other hedge funds have also recently added to or reduced their stakes in SUI. Elevation Point Wealth Partners LLC acquired a new position in shares of Sun Communities in the second quarter worth about $30,000. MAI Capital Management increased its stake in shares of Sun Communities by 164.4% in the 2nd quarter. MAI Capital Management now owns 267 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 166 shares in the last quarter. Assetmark Inc. raised its holdings in Sun Communities by 55.7% in the 3rd quarter. Assetmark Inc. now owns 271 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 97 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Sun Communities during the third quarter worth approximately $37,000. Finally, Farther Finance Advisors LLC boosted its position in Sun Communities by 179.5% during the third quarter. Farther Finance Advisors LLC now owns 313 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 201 shares in the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Stock Performance

SUI opened at $129.97 on Thursday. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $137.77. The firm has a market capitalization of $16.07 billion, a PE ratio of 16.29, a PEG ratio of 4.33 and a beta of 0.90. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average price is $125.61 and its 200 day moving average price is $126.16.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Wednesday, December 31st were issued a $1.04 dividend. This represents a $4.16 annualized dividend 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 currently 52.13%.

Insider Buying and Selling

In other Sun Communities news, Director Gary A. Shiffman sold 156,875 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $123.53, for a total value of $19,378,768.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.77% of the company’s stock.

Analyst Ratings Changes

SUI has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Sun Communities from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Truist Financial boosted their price target on shares of Sun Communities from $141.00 to $142.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Weiss Ratings restated a “hold (c)” rating on shares of Sun Communities in a research report on Wednesday, January 21st. Jefferies Financial Group set a $142.00 target price on shares of Sun Communities and gave the company a “buy” rating in a research report on Monday, November 3rd. Finally, UBS Group boosted their target price on shares of Sun Communities from $126.00 to $127.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $137.46.

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.