Cambridge Investment Research Advisors Inc. Buys 89 Shares of Sun Communities, Inc. (NYSE:SUI)

Cambridge Investment Research Advisors Inc. raised its stake in shares of Sun Communities, Inc. (NYSE:SUI – Get Rating) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,459 shares of the real estate investment trust’s stock after acquiring an additional 89 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Sun Communities were worth $495,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SUI. PGGM Investments bought a new position in Sun Communities during the 3rd quarter valued at $134,497,000. Invesco Ltd. lifted its stake in Sun Communities by 72.4% during the 1st quarter. Invesco Ltd. now owns 1,916,668 shares of the real estate investment trust’s stock valued at $335,973,000 after acquiring an additional 805,125 shares in the last quarter. State Street Corp lifted its stake in Sun Communities by 11.7% during the 1st quarter. State Street Corp now owns 5,647,271 shares of the real estate investment trust’s stock valued at $994,744,000 after acquiring an additional 591,348 shares in the last quarter. Vanguard Group Inc. lifted its stake in Sun Communities by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 17,409,317 shares of the real estate investment trust’s stock valued at $2,356,002,000 after acquiring an additional 505,660 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Sun Communities by 109.4% during the 3rd quarter. Canada Pension Plan Investment Board now owns 878,631 shares of the real estate investment trust’s stock valued at $118,905,000 after acquiring an additional 459,026 shares in the last quarter. 93.31% of the stock is currently owned by institutional investors.

Sun Communities Stock Performance

NYSE:SUI opened at $126.87 on Friday. The business has a 50 day moving average of $135.61 and a 200 day moving average of $142.32. The company has a market capitalization of $15.78 billion, a price-to-earnings ratio of 73.34, a PEG ratio of 2.93 and a beta of 0.71. Sun Communities, Inc. has a 1-year low of $117.63 and a 1-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 released its 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). The firm had revenue of $651.20 million during the quarter, compared to the consensus estimate of $610.32 million. Sun Communities had a return on equity of 2.63% and a net margin of 6.87%. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.34 EPS. On average, sell-side analysts predict that Sun Communities, Inc. will post 7.3 earnings per share for the current fiscal year.

Sun Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Friday, March 31st were given a $0.93 dividend. The ex-dividend date was Thursday, March 30th. This represents a $3.72 annualized dividend and a yield of 2.93%. This is an increase from Sun Communities’s previous quarterly dividend of $0.88. Sun Communities’s payout ratio is presently 215.03%.

Insider Buying and Selling at Sun Communities

In other Sun Communities news, Director Clunet R. Lewis sold 1,500 shares of the business’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 completion of the sale, the director now owns 26,900 shares in the company, valued at $3,994,919. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Truist Financial decreased their target price on Sun Communities from $166.00 to $163.00 and set a “buy” rating for the company in a research report on Friday, March 31st. Wells Fargo & Company assumed coverage on Sun Communities in a research report on Wednesday, March 29th. They set an “equal weight” rating and a $151.00 target price for the company. StockNews.com assumed coverage on Sun Communities in a research report on Thursday, May 18th. They set a “sell” rating for the company. Robert W. Baird raised their target price on Sun Communities from $160.00 to $168.00 in a research report on Thursday, May 18th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $160.00 target price on shares of Sun Communities in a research report on Wednesday, March 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Sun Communities currently has an average rating of “Moderate Buy” and an average price target of $164.38.

Sun Communities Company Profile

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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.