Tacita Capital Inc Buys Shares of 14,532 Sun Communities, Inc. $SUI

Tacita Capital Inc bought a new stake in shares of Sun Communities, Inc. (NYSE:SUI) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 14,532 shares of the real estate investment trust’s stock, valued at approximately $1,743,000. Sun Communities accounts for about 0.9% of Tacita Capital Inc’s portfolio, making the stock its 23rd biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Legal & General Group Plc boosted its position in Sun Communities by 6.4% during the 4th quarter. Legal & General Group Plc now owns 1,080,585 shares of the real estate investment trust’s stock valued at $133,895,000 after purchasing an additional 65,053 shares during the period. Ilmarinen Mutual Pension Insurance Co acquired a new stake in Sun Communities in the fourth quarter worth $1,549,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Sun Communities by 39.0% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 55,683 shares of the real estate investment trust’s stock worth $7,014,000 after buying an additional 15,630 shares during the period. DNB Asset Management AS increased its position in Sun Communities by 218.0% in the fourth quarter. DNB Asset Management AS now owns 77,034 shares of the real estate investment trust’s stock worth $9,545,000 after buying an additional 52,812 shares during the period. Finally, M&T Bank Corp lifted its stake in Sun Communities by 20,348.9% in the fourth quarter. M&T Bank Corp now owns 498,339 shares of the real estate investment trust’s stock valued at $61,749,000 after buying an additional 495,902 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sun Communities

In related news, Director Gary A. Shiffman sold 25,031 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were 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 owned 857,761 shares of the company’s stock, valued at $102,897,009.56. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Fernando Castro-Caratini sold 23,750 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the completion of the transaction, the executive vice president owned 9,998 shares of the company’s stock, valued at $1,244,051.14. This represents a 70.37% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.58% of the stock is owned by insiders.

Sun Communities Stock Up 1.7%

Shares of Sun Communities stock opened at $122.23 on Thursday. The business’s fifty day moving average price is $121.26 and its two-hundred day moving average price is $125.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.52 and a quick ratio of 2.52. The company has a market capitalization of $14.89 billion, a P/E ratio of -17.24, a PEG ratio of 5.48 and a beta of 0.78. Sun Communities, Inc. has a 1-year low of $115.90 and a 1-year high of $137.85.

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued 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 of this dividend was Tuesday, June 30th. Sun Communities’s dividend payout ratio (DPR) is -63.19%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SUI. Morgan Stanley lowered their price target on shares of Sun Communities from $135.00 to $126.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 12th. Colliers Securities raised shares of Sun Communities from a “neutral” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Friday, May 22nd. Weiss Ratings downgraded shares of Sun Communities from a “hold (c)” rating to a “sell (d+)” rating in a research report on Wednesday, August 12th. Evercore reissued an “outperform” rating and set a $144.00 target price on shares of Sun Communities in a research note on Wednesday, April 29th. Finally, Mizuho decreased their target price on shares of Sun Communities from $143.00 to $137.00 and set an “outperform” rating for the company in a research report on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $139.38.

About Sun Communities

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.