Public Employees Retirement System of Ohio Purchases Shares of 177,469 Sun Communities, Inc. $SUI

Public Employees Retirement System of Ohio acquired a new stake in Sun Communities, Inc. (NYSE:SUI) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 177,469 shares of the real estate investment trust’s stock, valued at approximately $21,280,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fulcrum Asset Management LLP bought a new position in Sun Communities during the third quarter worth about $27,000. Wiser Advisor Group LLC bought a new stake in Sun Communities in the third quarter valued at approximately $46,000. Prosperity Bancshares Inc bought a new stake in Sun Communities in the fourth quarter valued at approximately $48,000. Oslo Pensjonsforsikring AS bought a new stake in Sun Communities in the first quarter valued at approximately $49,000. Finally, Allworth Financial LP lifted its position in shares of Sun Communities by 141.6% in the fourth 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. 99.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SUI. Bank of America raised 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. Weiss Ratings downgraded shares of Sun Communities from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, August 12th. Jefferies Financial Group raised shares of Sun Communities to a “strong-buy” rating in a research report on Wednesday, July 22nd. Colliers Securities upgraded shares of Sun Communities from a “neutral” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Friday, May 22nd. Finally, Wall Street Zen cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Sun Communities currently has a consensus rating of “Moderate Buy” and an average price target of $139.42.

Insider Activity

In related news, Director Gary A. Shiffman sold 25,031 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was 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 directly owned 857,761 shares in the company, valued at approximately $102,897,009.56. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.58% of the stock is currently owned by insiders.

Sun Communities Stock Down 0.0%

SUI opened at $123.17 on Friday. The stock has a fifty day moving average of $121.35 and a 200-day moving average of $125.78. The company has a market capitalization of $15.00 billion, a P/E ratio of -17.37, a P/E/G ratio of 5.61 and a beta of 0.78. Sun Communities, Inc. has a fifty-two week low of $115.90 and a fifty-two week high of $137.85. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.52 and a current ratio of 2.52.

Sun Communities Dividend Announcement

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

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.