Van Hulzen Asset Management LLC Makes New Investment in Sun Communities, Inc. $SUI

Van Hulzen Asset Management LLC acquired a new stake in shares of Sun Communities, Inc. (NYSE:SUI) during the second quarter, Holdings Channel reports. The firm acquired 6,685 shares of the real estate investment trust’s stock, valued at approximately $802,000.

Several other large investors also recently modified their holdings of SUI. Legal & General Group Plc boosted its stake in shares of Sun Communities by 6.4% in the 4th quarter. Legal & General Group Plc now owns 1,080,585 shares of the real estate investment trust’s stock valued at $133,895,000 after purchasing an additional 65,053 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co acquired a new stake in shares of Sun Communities during the 4th quarter worth about $1,549,000. BlackRock Inc. acquired a new stake in shares of Sun Communities during the 2nd quarter worth about $1,649,715,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Sun Communities by 39.0% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 55,683 shares of the real estate investment trust’s stock valued at $7,014,000 after purchasing an additional 15,630 shares during the last quarter. Finally, DNB Asset Management AS lifted its holdings in Sun Communities by 218.0% during the 4th quarter. DNB Asset Management AS now owns 77,034 shares of the real estate investment trust’s stock valued at $9,545,000 after purchasing an additional 52,812 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Stock Performance

SUI stock opened at $123.30 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.52 and a quick ratio of 2.52. The company has a 50 day moving average price of $121.06 and a 200 day moving average price of $125.82. Sun Communities, Inc. has a fifty-two week low of $115.90 and a fifty-two week high of $137.85. The stock has a market capitalization of $15.02 billion, a PE ratio of -17.39, a price-to-earnings-growth ratio of 5.55 and a beta of 0.78.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Sun Communities’s dividend payout ratio (DPR) is -63.19%.

Analyst Ratings Changes

A number of research firms have commented on SUI. Royal Bank Of Canada lowered shares of Sun Communities from a “moderate buy” rating to a “hold” rating in a research report on Monday, August 10th. Evercore reiterated an “outperform” rating and issued a $144.00 target price on shares of Sun Communities in a research note on Wednesday, April 29th. Wells Fargo & Company reduced their target price on Sun Communities from $142.00 to $141.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. Barclays increased their price target on Sun Communities from $146.00 to $147.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. Finally, Morgan Stanley dropped their price target on Sun Communities from $135.00 to $126.00 and set an “equal weight” rating for the company in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $139.38.

Insider Buying and Selling at Sun Communities

In other news, Director Gary A. Shiffman sold 25,031 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total transaction of $3,002,718.76. Following the completion of the sale, the director owned 857,761 shares in the company, valued at $102,897,009.56. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.58% of the stock is currently owned by insiders.

Sun Communities Company 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.