Sun Communities, Inc. $SUI Stock Bought by Adams Asset Advisors LLC

Adams Asset Advisors LLC raised its holdings in shares of Sun Communities, Inc. (NYSE:SUI – Free Report) by 59.7% in the third quarter, Holdings Channel reports. The institutional investor owned 35,570 shares of the real estate investment trust’s stock after buying an additional 13,300 shares during the quarter. Adams Asset Advisors LLC’s holdings in Sun Communities were worth $3,940,000 as of its most recent filing with the Securities & Exchange Commission.

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

Sun Communities Trading Up 0.9%

NYSE:SUI traded up $0.99 on Thursday, hitting $111.78. 1,439,279 shares of the stock were exchanged, compared to its average volume of 1,169,364. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.52 and a current ratio of 2.52. Sun Communities, Inc. has a 52 week low of $109.77 and a 52 week high of $137.85. The stock has a market capitalization of $13.62 billion, a price-to-earnings ratio of -15.77, a P/E/G ratio of 4.81 and a beta of 0.76. The company’s 50-day moving average price is $118.05 and its 200 day moving average price is $122.19.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.0%. The ex-dividend date is Wednesday, September 30th. Sun Communities’s dividend payout ratio is currently -63.19%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SUI. Wells Fargo & Company decreased their price target on Sun Communities from $142.00 to $141.00 and set an “overweight” rating on the stock in a research report on Monday, August 10th. Mizuho reduced their price objective on Sun Communities from $137.00 to $136.00 and set an “outperform” rating on the stock in a research note on Monday, September 21st. UBS Group decreased their target price on Sun Communities from $133.00 to $117.00 and set a “neutral” rating on the stock in a report on Tuesday. Truist Financial lowered their target price on Sun Communities from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Friday, September 11th. Finally, Bank of America raised shares of Sun Communities from an “underperform” rating to a “neutral” rating and set a $140.00 target price for the company in a research note on Thursday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.11.

Read Our Latest Report on Sun Communities

About Sun Communities

(Free Report)

Sun Communities, Inc is a real estate investment trust that owns, operates and develops residential communities and recreational properties. Its portfolio primarily includes manufactured housing communities, recreational vehicle resorts and marinas.

The company provides housing and leisure-oriented accommodations through communities offering manufactured homes, seasonal and long-term RV sites, and related amenities. Its marina operations include wet slips, dry storage and other services for boat owners.

Founded in 1975, Sun Communities serves residents, vacationers and boaters across the United States, with additional operations in the United Kingdom.

Further Reading

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

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