Allianz Asset Management GmbH Reduces Stock Holdings in Sun Communities, Inc. $SUI

Allianz Asset Management GmbH lessened its position in shares of Sun Communities, Inc. (NYSE:SUI) by 3.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 121,286 shares of the real estate investment trust’s stock after selling 4,561 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.10% of Sun Communities worth $15,646,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SUI. Elevation Point Wealth Partners LLC acquired a new position in Sun Communities during the second quarter worth about $30,000. MAI Capital Management increased its stake in shares of Sun Communities by 164.4% during the 2nd quarter. MAI Capital Management now owns 267 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 166 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Sun Communities during the 3rd quarter worth approximately $37,000. Farther Finance Advisors LLC lifted its stake in Sun Communities by 179.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 313 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 201 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Sun Communities by 37.3% in the 2nd quarter. Smartleaf Asset Management LLC now owns 556 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 151 shares in the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Performance

NYSE SUI opened at $125.79 on Friday. The business’s 50-day moving average price is $125.12 and its 200 day moving average price is $125.69. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.58. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $137.77. The company has a market capitalization of $15.56 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 4.14 and a beta of 0.90.

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 given a dividend of $1.04 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $4.16 annualized dividend and a yield of 3.3%. Sun Communities’s dividend payout ratio is 52.13%.

Insider Buying and Selling

In related news, Director Gary A. Shiffman sold 156,875 shares of the 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Clunet R. Lewis sold 4,000 shares of Sun Communities stock in a transaction on Monday, November 10th. The shares were sold at an average price of $126.24, for a total value of $504,960.00. Following the completion of the transaction, the director owned 26,000 shares in the company, valued at $3,282,240. The trade was a 13.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.77% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SUI. Morgan Stanley dropped their price target on Sun Communities from $139.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 25th. Truist Financial increased their price objective on Sun Communities from $141.00 to $142.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sun Communities in a research report on Wednesday, January 21st. Robert W. Baird boosted their target price on shares of Sun Communities from $134.00 to $136.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Sun Communities from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Tuesday, January 20th. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Sun Communities has an average rating of “Hold” and a consensus price target of $137.46.

About Sun Communities

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.