Mercer Global Advisors Inc. ADV Has $490,000 Stake in Sun Communities, Inc. (NYSE:SUI)

Mercer Global Advisors Inc. ADV boosted its holdings in shares of Sun Communities, Inc. (NYSE:SUI – Get Rating) by 8.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,426 shares of the real estate investment trust’s stock after purchasing an additional 266 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Sun Communities were worth $490,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SUI. UBS Group AG increased its stake in shares of Sun Communities by 73.8% in the 4th quarter. UBS Group AG now owns 187,937 shares of the real estate investment trust’s stock valued at $26,875,000 after buying an additional 79,821 shares during the period. Duff & Phelps Investment Management Co. increased its stake in shares of Sun Communities by 0.8% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 1,124,523 shares of the real estate investment trust’s stock valued at $158,476,000 after buying an additional 8,430 shares during the period. Alliance Wealth Advisors LLC UT acquired a new stake in shares of Sun Communities in the 4th quarter valued at $270,000. Prime Capital Investment Advisors LLC bought a new position in shares of Sun Communities in the 4th quarter worth $460,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of Sun Communities by 6.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 21,025 shares of the real estate investment trust’s stock worth $3,007,000 after purchasing an additional 1,287 shares during the last quarter. 93.31% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Performance

Shares of Sun Communities stock opened at $130.70 on Tuesday. The firm has a market cap of $16.26 billion, a price-to-earnings ratio of 75.55, a price-to-earnings-growth ratio of 2.92 and a beta of 0.71. The stock’s 50-day moving average is $136.20 and its 200-day moving average is $142.54. Sun Communities, Inc. has a one year low of $117.63 and a one year high of $172.67. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.63 and a quick ratio of 2.63.

Sun Communities (NYSE:SUI – Get Rating) last announced its quarterly earnings results on Monday, April 24th. The real estate investment trust reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($1.42). Sun Communities had a return on equity of 2.63% and a net margin of 6.87%. The business had revenue of $651.20 million for the quarter, compared to analyst estimates of $610.32 million. During the same period last year, the firm earned $1.34 EPS. Sun Communities’s quarterly revenue was up 18.7% compared to the same quarter last year. Equities analysts predict that Sun Communities, Inc. will post 7.3 earnings per share for the current fiscal year.

Sun Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 17th. Stockholders of record on Friday, March 31st were given a $0.93 dividend. This is an increase from Sun Communities’s previous quarterly dividend of $0.88. The ex-dividend date was Thursday, March 30th. This represents a $3.72 annualized dividend and a dividend yield of 2.85%. Sun Communities’s dividend payout ratio is presently 215.03%.

Insider Activity

In other news, Director Clunet R. Lewis sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $148.51, for a total value of $222,765.00. Following the transaction, the director now owns 26,900 shares of the company’s stock, valued at $3,994,919. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.06% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on SUI shares. Truist Financial reduced their price target on Sun Communities from $166.00 to $163.00 and set a “buy” rating on the stock in a research report on Friday, March 31st. Robert W. Baird lifted their target price on Sun Communities from $160.00 to $168.00 in a report on Thursday, May 18th. Wells Fargo & Company assumed coverage on Sun Communities in a report on Wednesday, March 29th. They set an “equal weight” rating and a $151.00 target price on the stock. StockNews.com assumed coverage on Sun Communities in a report on Thursday, May 18th. They set a “sell” rating on the stock. Finally, Barclays reduced their target price on Sun Communities from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Monday, April 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.38.

About Sun Communities

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Sun Communities, Inc provides real estate management services. The firm operates through the following segments: Manufactured Home Communities, Recreational Vehicle, and Marina. The Manufactured Home Communities segment owns, operates, and develops manufactured housing communities and is in the business of acquiring, operating, and developing ground up communities to provide housing solutions.