OMERS ADMINISTRATION Corp Takes Position in Sun Communities, Inc. $SUI

OMERS ADMINISTRATION Corp bought a new position in Sun Communities, Inc. (NYSE:SUI) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,617 shares of the real estate investment trust’s stock, valued at approximately $793,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Fulcrum Asset Management LLP acquired a new position in Sun Communities during the third quarter valued at approximately $27,000. Wiser Advisor Group LLC acquired a new stake in shares of Sun Communities in the third quarter worth $46,000. Prosperity Bancshares Inc bought a new stake in shares of Sun Communities during the 4th quarter worth $48,000. Oslo Pensjonsforsikring AS bought a new stake in shares of Sun Communities during the 1st quarter worth $49,000. Finally, Allworth Financial LP grew its stake in Sun Communities by 141.6% in the 4th quarter. Allworth Financial LP now owns 430 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 252 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

Sun Communities Price Performance

Shares of Sun Communities stock opened at $123.36 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.52 and a quick ratio of 2.52. The company has a market cap of $15.03 billion, a PE ratio of -17.40, a price-to-earnings-growth ratio of 5.71 and a beta of 0.78. The firm has a fifty day moving average price of $121.26 and a two-hundred day moving average price of $125.80. Sun Communities, Inc. has a fifty-two week low of $115.90 and a fifty-two week high of $137.85.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.6%. Sun Communities’s dividend payout ratio is currently -63.19%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SUI. Bank of America upgraded shares of Sun Communities from an “underperform” rating to a “neutral” rating and set a $140.00 target price on the stock in a report on Thursday. Royal Bank Of Canada downgraded Sun Communities from a “moderate buy” rating to a “hold” rating in a research report on Monday, August 10th. Truist Financial cut their price objective on Sun Communities from $141.00 to $138.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Morgan Stanley lowered their target price on Sun Communities from $135.00 to $126.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 12th. Finally, Wall Street Zen downgraded Sun Communities from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sun Communities has an average rating of “Moderate Buy” and an average target price of $139.42.

Insider Buying and Selling at Sun Communities

In related news, Director Gary A. Shiffman sold 25,031 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $119.96, for a total value of $3,002,718.76. Following the completion of the sale, the director owned 857,761 shares in the company, valued at approximately $102,897,009.56. This trade represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.58% of the company’s stock.

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.