Aurora Investment Managers LLC. Has $3.39 Million Position in Sun Communities, Inc. (NYSE:SUI)

Aurora Investment Managers LLC. increased its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 26.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,055 shares of the real estate investment trust’s stock after purchasing an additional 5,175 shares during the quarter. Sun Communities makes up approximately 2.1% of Aurora Investment Managers LLC.’s portfolio, making the stock its 21st largest position. Aurora Investment Managers LLC.’s holdings in Sun Communities were worth $3,386,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Centersquare Investment Management LLC boosted its holdings in shares of Sun Communities by 4.7% during the first quarter. Centersquare Investment Management LLC now owns 2,171,868 shares of the real estate investment trust’s stock worth $279,259,000 after purchasing an additional 96,529 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Sun Communities by 8.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 143,209 shares of the real estate investment trust’s stock valued at $18,414,000 after acquiring an additional 11,195 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in Sun Communities during the second quarter valued at approximately $13,164,000. SG Americas Securities LLC raised its position in Sun Communities by 145.0% during the first quarter. SG Americas Securities LLC now owns 20,576 shares of the real estate investment trust’s stock valued at $2,646,000 after acquiring an additional 12,177 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Sun Communities during the first quarter valued at approximately $1,106,000. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of Sun Communities stock in a transaction on Monday, August 5th. The shares were sold at an average price of $131.43, for a total transaction of $394,290.00. Following the sale, the chief executive officer now owns 63,462 shares in the company, valued at $8,340,810.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.89% of the stock is currently owned by corporate insiders.

Sun Communities Stock Performance

Shares of Sun Communities stock traded up $0.33 during midday trading on Friday, hitting $137.91. The company had a trading volume of 41,747 shares, compared to its average volume of 796,650. The business’s 50 day simple moving average is $135.20 and its two-hundred day simple moving average is $125.63. The stock has a market cap of $17.19 billion, a PE ratio of 118.59, a P/E/G ratio of 0.95 and a beta of 0.91. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42. Sun Communities, Inc. has a 1-year low of $102.74 and a 1-year high of $147.83.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.94 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.76 annualized dividend and a dividend yield of 2.73%. Sun Communities’s payout ratio is 324.14%.

Wall Street Analysts Forecast Growth

SUI has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on shares of Sun Communities in a research report on Thursday. They set a “buy” rating and a $160.00 price objective on the stock. Royal Bank of Canada raised their price objective on shares of Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. UBS Group raised shares of Sun Communities to a “strong-buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their price target on shares of Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. Finally, Robert W. Baird lifted their price target on shares of Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.82.

About Sun Communities

Established in 1975, Sun Communities, Inc became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of December 31, 2023, the Company owned, operated, or had an interest in a portfolio of 667 developed MH, RV and Marina properties comprising 179,310 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.