Plato Investment Management Ltd Sells 4,342 Shares of Sun Communities, Inc. $SUI

Plato Investment Management Ltd trimmed its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 46.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,973 shares of the real estate investment trust’s stock after selling 4,342 shares during the period. Plato Investment Management Ltd’s holdings in Sun Communities were worth $637,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of SUI. Smartleaf Asset Management LLC lifted its position in shares of Sun Communities by 19.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 665 shares of the real estate investment trust’s stock valued at $86,000 after acquiring an additional 109 shares during the period. Cornerstone Planning Group LLC grew its holdings in Sun Communities by 2,907.7% in the third quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 378 shares during the period. AGF Management Ltd. increased its stake in Sun Communities by 4.7% in the third quarter. AGF Management Ltd. now owns 26,147 shares of the real estate investment trust’s stock valued at $3,373,000 after purchasing an additional 1,181 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Sun Communities by 5.9% during the third quarter. Jones Financial Companies Lllp now owns 3,261 shares of the real estate investment trust’s stock valued at $420,000 after purchasing an additional 182 shares during the period. Finally, National Pension Service raised its holdings in shares of Sun Communities by 88.8% during the third quarter. National Pension Service now owns 3,727 shares of the real estate investment trust’s stock valued at $481,000 after purchasing an additional 1,753 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Up 1.7%

Shares of NYSE:SUI opened at $125.79 on Monday. The business’s 50 day moving average is $125.12 and its 200 day moving average is $125.70. Sun Communities, Inc. has a 12-month low of $109.22 and a 12-month high of $137.77. The stock has a market cap of $15.56 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 4.14 and a beta of 0.90. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.58.

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Wednesday, December 31st were issued a dividend of $1.04 per share. The ex-dividend date was Wednesday, December 31st. This represents a $4.16 annualized dividend and a yield of 3.3%. Sun Communities’s payout ratio is 52.13%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SUI. UBS Group boosted their target price on Sun Communities from $126.00 to $127.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Jefferies Financial Group set a $142.00 price objective on Sun Communities and gave the company a “buy” rating in a research note on Monday, November 3rd. Robert W. Baird upped their target price on Sun Communities from $134.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. Wall Street Zen raised shares of Sun Communities from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, Morgan Stanley decreased their price target on shares of Sun Communities from $139.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 25th. Six equities 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. Based on data from MarketBeat.com, Sun Communities currently has a consensus rating of “Hold” and a consensus target price of $137.46.

Insider Transactions at Sun Communities

In other Sun Communities news, Director Gary A. Shiffman sold 156,875 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were 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 can be accessed through this hyperlink. Insiders own 1.77% of the company’s stock.

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.