Anchor Capital Advisors LLC Reduces Stake in Sun Communities Inc (SUI)

Anchor Capital Advisors LLC lessened its position in Sun Communities Inc (NYSE:SUI) by 2.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 486,421 shares of the real estate investment trust’s stock after selling 10,427 shares during the period. Sun Communities makes up 1.6% of Anchor Capital Advisors LLC’s holdings, making the stock its 12th largest position. Anchor Capital Advisors LLC’s holdings in Sun Communities were worth $45,130,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SUI. Janus Henderson Group PLC bought a new stake in shares of Sun Communities in the 2nd quarter worth $70,725,000. American Century Companies Inc. raised its stake in shares of Sun Communities by 3,848.1% in the 4th quarter. American Century Companies Inc. now owns 609,195 shares of the real estate investment trust’s stock worth $56,521,000 after buying an additional 593,765 shares in the last quarter. Capital Growth Management LP raised its stake in shares of Sun Communities by 77.6% in the 3rd quarter. Capital Growth Management LP now owns 515,000 shares of the real estate investment trust’s stock worth $44,125,000 after buying an additional 225,000 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Sun Communities by 8.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,891,855 shares of the real estate investment trust’s stock worth $247,774,000 after buying an additional 215,897 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Sun Communities by 13.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,745,275 shares of the real estate investment trust’s stock worth $149,535,000 after buying an additional 212,612 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

Sun Communities Inc (NYSE:SUI) opened at $83.96 on Friday. The stock has a market capitalization of $6,696.51, a price-to-earnings ratio of 113.46, a P/E/G ratio of 2.95 and a beta of 0.15. Sun Communities Inc has a 1-year low of $78.78 and a 1-year high of $96.08.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Thursday, December 28th. Sun Communities’s payout ratio is 362.16%.

A number of research firms have recently commented on SUI. Robert W. Baird reissued a “buy” rating and issued a $100.00 price objective on shares of Sun Communities in a research note on Monday, December 11th. Zacks Investment Research downgraded Sun Communities from a “hold” rating to a “sell” rating in a research note on Thursday, October 19th. Royal Bank of Canada boosted their price objective on Sun Communities from $95.00 to $96.00 and gave the stock an “outperform” rating in a research note on Thursday, October 26th. Evercore ISI raised Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 price objective on the stock in a research note on Monday, December 4th. Finally, ValuEngine downgraded Sun Communities from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Sun Communities presently has a consensus rating of “Buy” and an average price target of $93.57.

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About Sun Communities

Sun Communities, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is a fully integrated real estate company, which, together with its affiliates and predecessors, has been in the business of acquiring, operating, developing, and expanding manufactured housing (MH) and recreational vehicle (RV).

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

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