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

Candriam S.C.A. reduced its stake in Sun Communities, Inc. (NYSE:SUI) by 93.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 8,711 shares of the real estate investment trust’s stock after selling 123,079 shares during the quarter. Candriam S.C.A.’s holdings in Sun Communities were worth $1,124,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SUI. AQR Capital Management LLC lifted its holdings in shares of Sun Communities by 17.8% in the first quarter. AQR Capital Management LLC now owns 12,076 shares of the real estate investment trust’s stock valued at $1,554,000 after purchasing an additional 1,827 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Sun Communities by 21.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 195,339 shares of the real estate investment trust’s stock valued at $25,128,000 after buying an additional 33,981 shares during the last quarter. Empowered Funds LLC raised its position in Sun Communities by 32.5% in the 1st quarter. Empowered Funds LLC now owns 3,376 shares of the real estate investment trust’s stock valued at $434,000 after buying an additional 829 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Sun Communities in the 1st quarter valued at approximately $362,000. Finally, Allianz Asset Management GmbH lifted its stake in Sun Communities by 8.2% in the 2nd quarter. Allianz Asset Management GmbH now owns 125,847 shares of the real estate investment trust’s stock valued at $15,918,000 after acquiring an additional 9,555 shares in the last quarter. Institutional investors own 99.59% of the company’s stock.

Sun Communities Trading Up 0.8%

Shares of NYSE:SUI opened at $128.80 on Friday. Sun Communities, Inc. has a 52-week low of $109.22 and a 52-week high of $137.77. The company has a market capitalization of $15.93 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 4.21 and a beta of 0.90. The company has a 50-day simple moving average of $125.12 and a 200 day simple moving average of $125.83. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Wednesday, December 31st were paid 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 currently 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 stock was sold at an average price of $123.53, for a total transaction of $19,378,768.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SUI shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sun Communities in a research note on Wednesday, January 21st. Barclays restated an “overweight” rating and set a $144.00 target price on shares of Sun Communities in a report on Tuesday, January 13th. Royal Bank Of Canada lifted their price target on shares of Sun Communities from $142.00 to $143.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Truist Financial boosted their price target on shares of Sun Communities from $141.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Finally, Wells Fargo & Company raised their price objective on Sun Communities from $132.00 to $133.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $137.46.

Sun Communities 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.