Jefferies Group LLC acquired a new stake in shares of Sun Communities Inc (NYSE:SUI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 20,683 shares of the real estate investment trust’s stock, valued at approximately $1,919,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Cohen & Steers Inc. grew its position in shares of Sun Communities by 0.4% in the 3rd quarter. Cohen & Steers Inc. now owns 9,567,842 shares of the real estate investment trust’s stock worth $819,773,000 after acquiring an additional 41,383 shares in the last quarter. BlackRock Inc. grew its position in shares of Sun Communities by 0.6% in the 4th quarter. BlackRock Inc. now owns 5,646,104 shares of the real estate investment trust’s stock worth $523,847,000 after acquiring an additional 34,356 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Sun Communities by 1.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,694,415 shares of the real estate investment trust’s stock worth $342,768,000 after acquiring an additional 61,270 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Sun Communities by 25.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,197,655 shares of the real estate investment trust’s stock worth $203,897,000 after acquiring an additional 452,380 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Sun Communities by 2.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,019,268 shares of the real estate investment trust’s stock worth $87,330,000 after acquiring an additional 25,291 shares in the last quarter. Hedge funds and other institutional investors own 94.78% of the company’s stock.
Shares of Sun Communities Inc (NYSE SUI) opened at $88.57 on Wednesday. The stock has a market capitalization of $7,097.73, a P/E ratio of 21.31, a P/E/G ratio of 3.11 and a beta of 0.18. Sun Communities Inc has a 1-year low of $78.78 and a 1-year high of $96.08.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be issued a $0.71 dividend. This is an increase from Sun Communities’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.84 annualized dividend and a dividend yield of 3.21%. Sun Communities’s dividend payout ratio (DPR) is 315.29%.
Several research analysts have recently commented on SUI shares. Zacks Investment Research upgraded Sun Communities from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research report on Wednesday, December 27th. BMO Capital Markets set a $97.00 price target on Sun Communities and gave the stock a “buy” rating in a report on Wednesday, February 21st. Robert W. Baird downgraded Sun Communities from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $100.00 to $95.00 in a report on Friday, January 5th. ValuEngine raised Sun Communities from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Finally, Evercore ISI raised Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 price target on the stock in a report on Monday, December 4th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Sun Communities has a consensus rating of “Buy” and an average target price of $95.00.
In related news, Director Clunet R. Lewis sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $87.84, for a total value of $193,248.00. Following the sale, the director now owns 19,400 shares of the company’s stock, valued at approximately $1,704,096. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.15% of the company’s stock.
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Sun Communities Company Profile
Sun Communities, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is a fully integrated real estate company, which, together with its affiliates and predecessors, has been in the business of acquiring, operating, developing, and expanding manufactured housing (MH) and recreational vehicle (RV).
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