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

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

Several other large investors have also recently made changes to their positions in SUI. Elevation Point Wealth Partners LLC bought a new position in Sun Communities during the second quarter valued at about $30,000. MAI Capital Management boosted its stake in Sun Communities by 164.4% in 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 last quarter. Harbor Capital Advisors Inc. purchased a new position in Sun Communities in the third quarter valued at about $37,000. Farther Finance Advisors LLC grew its position in shares of Sun Communities by 179.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 313 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 201 shares during the period. Finally, Cornerstone Planning Group LLC increased its stake in shares of 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. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Stock Performance

NYSE:SUI opened at $125.79 on Monday. The business’s fifty day moving average is $125.12 and its 200 day moving average is $125.70. The firm 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 debt-to-equity ratio of 0.58, a quick ratio of 6.01 and a current ratio of 6.01. Sun Communities, Inc. has a 52-week low of $109.22 and a 52-week high of $137.77.

Sun Communities Dividend Announcement

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

Insider Activity at Sun Communities

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 shares were sold at an average price of $123.53, for a total transaction of $19,378,768.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.77% of the company’s stock.

Wall Street Analysts Forecast Growth

SUI has been the topic of several research analyst reports. Truist Financial upped 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. Barclays reaffirmed an “overweight” rating and set a $144.00 price target on shares of Sun Communities in a research report on Tuesday, January 13th. Wells Fargo & Company lifted their price objective on Sun Communities from $132.00 to $133.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. UBS Group boosted their price objective on Sun Communities from $126.00 to $127.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Finally, Jefferies Financial Group set a $142.00 target price on shares of Sun Communities and gave the stock a “buy” rating in a research report on Monday, November 3rd. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Sun Communities currently has an average rating of “Hold” and an average price target of $137.46.

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.