Oregon Public Employees Retirement Fund Acquires 25,200 Shares of Sun Communities, Inc. $SUI

Oregon Public Employees Retirement Fund bought a new stake in Sun Communities, Inc. (NYSE:SUI) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 25,200 shares of the real estate investment trust’s stock, valued at approximately $2,792,000.

Several other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Sun Communities during the 2nd quarter worth $1,649,715,000. Dimensional Fund Advisors LP lifted its stake in shares of Sun Communities by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,812,301 shares of the real estate investment trust’s stock valued at $228,280,000 after purchasing an additional 51,588 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Sun Communities by 2.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,536,249 shares of the real estate investment trust’s stock valued at $184,212,000 after purchasing an additional 31,497 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Sun Communities during the second quarter worth about $156,841,000. Finally, Legal & General Group Plc purchased a new stake in Sun Communities during the second quarter worth about $122,737,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SUI has been the topic of several recent analyst reports. Truist Financial lowered their target price on shares of Sun Communities from $136.00 to $129.00 and set a “buy” rating on the stock in a research report on Tuesday. Evercore reiterated an “outperform” rating on shares of Sun Communities in a research report on Wednesday, October 28th. Royal Bank Of Canada decreased their price target on Sun Communities from $148.00 to $140.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 13th. Wall Street Zen cut Sun Communities from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Jefferies Financial Group raised Sun Communities to a “strong-buy” rating in a research note on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Sun Communities presently has a consensus rating of “Moderate Buy” and an average price target of $136.25.

Sun Communities Price Performance

Shares of NYSE:SUI traded down $1.53 during midday trading on Friday, hitting $120.55. 938,054 shares of the stock were exchanged, compared to its average volume of 1,295,549. Sun Communities, Inc. has a twelve month low of $109.77 and a twelve month high of $137.85. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.69. The company has a 50 day moving average price of $115.70 and a 200-day moving average price of $123.28. The stock has a market cap of $14.39 billion, a P/E ratio of -19.57, a PEG ratio of 4.99 and a beta of 0.75.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. The firm had revenue of $558.20 million for the quarter, compared to analysts’ expectations of $563.59 million. Sun Communities had a negative net margin of 36.00% and a positive return on equity of 5.02%. The firm’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the company earned $2.28 EPS. On average, research analysts forecast that Sun Communities, Inc. will post 7.03 earnings per share for the current year.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $1.12 per share. The ex-dividend date was Wednesday, September 30th. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. Sun Communities’s payout ratio is presently -72.73%.

Sun Communities Profile

Sun Communities, Inc (NYSE:SUI) is a real estate investment trust that owns, operates and develops manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company provides residential sites for manufactured homes, seasonal and long-term RV accommodations, and marina facilities that include boat slips and related storage services.

Sun Communities also offers vacation accommodations and amenities such as swimming pools, clubhouses, recreational facilities and community services.