Waratah Capital Advisors Ltd. boosted its position in shares of Sun Communities, Inc. (NYSE:SUI) by 76.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 249,905 shares of the real estate investment trust’s stock after buying an additional 108,405 shares during the period. Sun Communities accounts for 2.9% of Waratah Capital Advisors Ltd.’s portfolio, making the stock its 9th largest position. Waratah Capital Advisors Ltd. owned approximately 0.34% of Sun Communities worth $19,145,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Adelante Capital Management LLC raised its stake in shares of Sun Communities by 213.2% in the second quarter. Adelante Capital Management LLC now owns 300,906 shares of the real estate investment trust’s stock valued at $23,061,000 after buying an additional 204,846 shares during the last quarter. Paloma Partners Management Co acquired a new stake in Sun Communities during the second quarter valued at approximately $6,506,000. Walleye Trading LLC raised its stake in Sun Communities by 13.7% in the second quarter. Walleye Trading LLC now owns 10,072 shares of the real estate investment trust’s stock valued at $772,000 after buying an additional 1,217 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Sun Communities by 26.0% in the second quarter. Nuveen Asset Management LLC now owns 778,051 shares of the real estate investment trust’s stock valued at $59,630,000 after buying an additional 160,508 shares in the last quarter. Finally, HGI Capital Management LLC acquired a new stake in Sun Communities during the second quarter valued at approximately $2,351,000. Hedge funds and other institutional investors own 99.24% of the company’s stock.
Shares of Sun Communities, Inc. (NYSE:SUI) traded down 0.62% on Tuesday, reaching $80.15. 156,629 shares of the company traded hands. Sun Communities, Inc. has a 52-week low of $65.45 and a 52-week high of $85.98. The firm has a 50-day moving average of $78.07 and a 200-day moving average of $76.57. The company has a market capitalization of $5.85 billion, a PE ratio of 46.60 and a beta of 0.38.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 20th. Stockholders of record on Saturday, December 31st were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Wednesday, December 28th. Sun Communities’s dividend payout ratio (DPR) is 140.54%.
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Several equities research analysts recently commented on the stock. BMO Capital Markets reiterated a “buy” rating and issued a $82.00 price objective on shares of Sun Communities in a research report on Thursday, January 12th. TheStreet upgraded shares of Sun Communities from a “c+” rating to a “b-” rating in a research report on Wednesday, January 25th. Finally, Zacks Investment Research lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a research report on Tuesday, January 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $81.40.
In other news, EVP Jonathan Colman sold 3,000 shares of the firm’s stock in a transaction on Friday, December 23rd. The stock was sold at an average price of $75.00, for a total transaction of $225,000.00. Following the transaction, the executive vice president now directly owns 37,206 shares of the company’s stock, valued at $2,790,450. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephanie W. Bergeron sold 4,850 shares of the firm’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $70.63, for a total value of $342,555.50. Following the transaction, the director now directly owns 16,000 shares in the company, valued at $1,130,080. The disclosure for this sale can be found here. 5.14% of the stock is currently owned by company insiders.
Sun Communities Company Profile
Sun Communities, Inc (SHS) is a self-administered and self-managed real estate investment trust (REIT). The Company operates in two segments: Real Property Operations, and Home Sales and Rentals. The Real Property Operations segment owns, operates and develops manufactured housing (MH) and recreational vehicle (RV) throughout the United States and is in the business of acquiring, operating and expanding MH and RV communities.
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