UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Position in Sun Communities, Inc. $SUI

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Sun Communities, Inc. (NYSE:SUIFree Report) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,536,249 shares of the real estate investment trust’s stock after purchasing an additional 31,497 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Sun Communities were worth $184,212,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Sun Communities by 9.1% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,003 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 84 shares during the period. IFP Advisors Inc increased its position in shares of Sun Communities by 3.2% in the 4th quarter. IFP Advisors Inc now owns 2,902 shares of the real estate investment trust’s stock valued at $360,000 after acquiring an additional 89 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Sun Communities by 13.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 773 shares of the real estate investment trust’s stock valued at $96,000 after acquiring an additional 90 shares during the period. CIBC Asset Management Inc raised its stake in Sun Communities by 2.1% in the 4th quarter. CIBC Asset Management Inc now owns 5,467 shares of the real estate investment trust’s stock worth $677,000 after acquiring an additional 112 shares during the last quarter. Finally, Orion Porfolio Solutions LLC raised its stake in Sun Communities by 1.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 9,335 shares of the real estate investment trust’s stock worth $1,181,000 after acquiring an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on SUI shares. Odeon Capital Group set a $135.00 price target on Sun Communities in a research note on Thursday, July 9th. Wall Street Zen cut Sun Communities from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Wells Fargo & Company decreased their target price on Sun Communities from $142.00 to $141.00 and set an “overweight” rating for the company in a report on Monday, August 10th. Colliers Securities upgraded Sun Communities from a “neutral” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Friday, May 22nd. Finally, Royal Bank Of Canada downgraded shares of Sun Communities from a “moderate buy” rating to a “hold” rating in a report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.42.

Get Our Latest Report on Sun Communities

Insiders Place Their Bets

In other Sun Communities news, Director Gary A. Shiffman sold 25,031 shares of Sun Communities stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total transaction of $3,002,718.76. Following the completion of the transaction, the director owned 857,761 shares in the company, valued at approximately $102,897,009.56. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.58% of the company’s stock.

Sun Communities Trading Down 0.2%

NYSE SUI opened at $121.19 on Wednesday. The company has a market capitalization of $14.76 billion, a PE ratio of -17.09, a P/E/G ratio of 5.54 and a beta of 0.78. The company has a fifty day moving average of $121.45 and a 200 day moving average of $125.69. Sun Communities, Inc. has a 1 year low of $115.90 and a 1 year high of $137.85. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.52 and a quick ratio of 2.52.

Sun Communities Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

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