Candriam S.C.A. Has $1.12 Million Position in Sun Communities, Inc. $SUI

Candriam S.C.A. lessened its stake in Sun Communities, Inc. (NYSE:SUI) by 93.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,711 shares of the real estate investment trust’s stock after selling 123,079 shares during the period. Candriam S.C.A.’s holdings in Sun Communities were worth $1,124,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Elevation Point Wealth Partners LLC acquired a new stake in shares of Sun Communities in the 2nd quarter valued at $30,000. MAI Capital Management lifted its stake in shares of Sun Communities by 164.4% during the second quarter. MAI Capital Management now owns 267 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 166 shares during the period. Harbor Capital Advisors Inc. bought a new position in Sun Communities in the third quarter valued at about $37,000. Farther Finance Advisors LLC increased its position in Sun Communities by 179.5% in the third quarter. Farther Finance Advisors LLC now owns 313 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 201 shares during the period. Finally, Cornerstone Planning Group LLC raised its holdings in Sun Communities by 2,907.7% during the 3rd 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 last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on SUI shares. UBS Group raised their target price on shares of Sun Communities from $126.00 to $127.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Weiss Ratings restated a “hold (c)” rating on shares of Sun Communities in a report on Wednesday, January 21st. Truist Financial lifted their target price on shares of Sun Communities from $141.00 to $142.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Royal Bank Of Canada upped their target price on shares of Sun Communities from $142.00 to $143.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Finally, Jefferies Financial Group set a $142.00 price target on Sun Communities and gave the stock a “buy” rating in a research report on Monday, November 3rd. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $137.46.

Insider Activity

In related news, Director Gary A. Shiffman sold 156,875 shares of the business’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.77% of the company’s stock.

Sun Communities Price Performance

Shares of SUI stock opened at $128.80 on Friday. 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, Inc. has a 12-month low of $109.22 and a 12-month high of $137.77. The firm has a fifty day moving average of $125.12 and a 200-day moving average of $125.83. The firm has a market capitalization of $15.93 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 4.21 and a beta of 0.90.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Wednesday, December 31st were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Wednesday, December 31st. Sun Communities’s payout ratio is 52.13%.

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.