25,200 Shares in Sun Communities, Inc. $SUI Bought by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund acquired a new stake in Sun Communities, Inc. (NYSE:SUI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 25,200 shares of the real estate investment trust’s stock, valued at approximately $2,792,000.

Other large investors have also modified their holdings of the company. CX Institutional increased its holdings in shares of Sun Communities by 1,076.7% in the 3rd quarter. CX Institutional now owns 353 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 323 shares during the period. Oslo Pensjonsforsikring AS acquired a new stake in Sun Communities during the 1st quarter worth $49,000. Avalon Trust Co acquired a new stake in Sun Communities during the 2nd quarter worth $61,000. Integrated Wealth Concepts LLC purchased a new position in Sun Communities during the 2nd quarter worth $72,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in Sun Communities during the 2nd quarter worth $83,000. 99.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on SUI shares. Bank of America upgraded shares of Sun Communities from an “underperform” rating to a “neutral” rating and set a $140.00 price objective on the stock in a research note on Thursday, August 27th. Barclays decreased their target price on shares of Sun Communities from $147.00 to $143.00 and set an “overweight” rating for the company in a research note on Wednesday, October 14th. Mizuho lowered their price target on Sun Communities from $137.00 to $136.00 and set an “outperform” rating on the stock in a report on Monday, September 21st. Wall Street Zen cut Sun Communities from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Truist Financial reduced their price objective on Sun Communities from $136.00 to $129.00 and set a “buy” rating for the company in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Sun Communities presently has an average rating of “Moderate Buy” and an average price target of $136.25.

Sun Communities Stock Performance

NYSE:SUI traded down $1.53 during midday trading on Friday, reaching $120.55. The stock had a trading volume of 938,054 shares, compared to its average volume of 1,295,549. The firm has a fifty day simple moving average of $115.70 and a two-hundred day simple moving average of $123.28. Sun Communities, Inc. has a 12-month low of $109.77 and a 12-month high of $137.85. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.69. The stock has a market cap of $14.39 billion, a P/E ratio of -19.57, a P/E/G ratio of 4.99 and a beta of 0.75.

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

Sun Communities Announces Dividend

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

Sun Communities Company 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.