More action for Sun Communities Inc. (NYSE:SUI), as investors and insiders are making moves.
BlackRock Group Ltd., who increased its stake in the company by 25.4 percent during the third quarter, led investor moves. BlackRock Group now owns shares valued at $40,014,000.
Other investor action included:
- Advisors Asset Management Inc. raised its position in shares of Sun Communities by 416.4 percent in the third quarter;
- Fox Run Management LLC bought a new position in the company during the second quarter, worth $322,000;
- 1st Global Advisors Inc. increased its stake in Sun Communities by 4.9 percent in the second quarter’
- Shinko Asset Management Co. Ltd. increased its position in Sun Communities by 14,305 percent in the second quarter. The Daily Business News covered this significant move in a report linked here.
The company has also announced a quarterly dividend, which will be paid on Friday, January 20th. Stockholders of record on Saturday, December 31st will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.43 percent.
Research analysts have also weighed in on Sun Communities, with Evercore ISI issuing a “buy” rating and a $85.00 price objective for the company on October 14th, and Zacks Investment Research moving the company from a “buy” rating to a “hold” rating in a report on October 5th.
Insider action at Sun Communities: Executive Vice President Jonathan Colman sold 3,000 shares on December 23rd at an average price of $75.00, for a total value of $225,000, per the Cerbat Gem.
Colman now owns 37,206 shares, valued at $2,790,450.
As Daily Business News readers are already aware, Sun owns and operates 338 manufactured home and recreational vehicle communities located in 29 states throughout of the United States and Ontario, Canada. Sun Communities’ portfolio consists of approximately 117,000 developed sites. The firm is one of the largest portfolios of manufactured home communities in the United States.
Sun is also one of the industry stocks monitored each business day on the MH Industry’s leading professional news resource, the Daily Business News, on MHProNews. For the most recent closing numbers on all MH industry-connected tracked stocks, please click here. ##
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Submitted by RC Williams to the Daily Business News for MHProNews.