4,629 Shares in Sun Communities, Inc. $SUI Purchased by ProShare Advisors LLC

ProShare Advisors LLC acquired a new position 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 fund acquired 4,629 shares of the real estate investment trust’s stock, valued at approximately $513,000.

Several other large investors have also recently made changes to their positions in SUI. BlackRock Inc. bought a new stake in shares of Sun Communities in the 2nd quarter valued at about $1,649,715,000. Canada Pension Plan Investment Board acquired a new stake in shares of Sun Communities in the 2nd quarter worth $156,841,000. Legal & General Group Plc acquired a new stake in shares of Sun Communities in the 2nd quarter worth $122,737,000. Deutsche Bank AG acquired a new position in Sun Communities during the 2nd quarter valued at about $108,430,000. Finally, Bank of New York Mellon Corp purchased a new stake in Sun Communities in the second quarter valued at about $82,662,000. 99.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SUI. Jefferies Financial Group upgraded shares of Sun Communities to a “strong-buy” rating in a report on Wednesday, July 22nd. Truist Financial lowered their price objective on shares of Sun Communities from $136.00 to $129.00 and set a “buy” rating for the company in a research note on Tuesday, November 3rd. Wall Street Zen lowered Sun Communities from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Royal Bank Of Canada cut their price objective on Sun Communities from $148.00 to $140.00 and set an “outperform” rating on the stock in a report on Tuesday, October 13th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Sun Communities in a report on Tuesday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $136.25.

Sun Communities Stock Down 0.0%

SUI stock opened at $120.26 on Tuesday. The firm has a market cap of $14.36 billion, a PE ratio of 17.34, a P/E/G ratio of 6.14 and a beta of 0.75. The company has a debt-to-equity ratio of 0.69, a quick ratio of 4.68 and a current ratio of 4.68. The firm’s fifty day moving average is $115.65 and its 200 day moving average is $123.26. Sun Communities, Inc. has a one year low of $109.77 and a one year high of $137.85.

Sun Communities (NYSE:SUI) last posted its earnings results on Monday, October 26th. The real estate investment trust reported $2.35 earnings per share (EPS) for the quarter, topping 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 business had revenue of $558.20 million for the quarter, compared to analyst estimates of $563.59 million. During the same period in the prior year, the company posted $2.28 EPS. The company’s revenue for the quarter was up .4% on a year-over-year basis. On average, research analysts forecast 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 $1.12 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. Sun Communities’s payout ratio is currently -72.73%.

Sun Communities Profile

Sun Communities, Inc is a real estate investment trust that owns and operates manufactured housing communities, recreational vehicle (RV) communities and resorts, and marinas. Its properties serve long-term residents as well as vacationers and boaters, with offerings that include home sites, RV accommodations, boat slips and related amenities.

Founded in 1975, the company has expanded beyond its original manufactured housing business through acquisitions and development. Its portfolio spans the United States, Canada and the United Kingdom.

Sun Communities is headquartered in Southfield, Michigan.