Illinois Municipal Retirement Fund Takes $709,000 Position in Sun Communities Inc (NYSE:SUI)

Illinois Municipal Retirement Fund acquired a new stake in shares of Sun Communities Inc (NYSE:SUI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,721 shares of the real estate investment trust’s stock, valued at approximately $709,000.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Sun Communities by 6.3% in the second quarter. BlackRock Inc. now owns 7,433,229 shares of the real estate investment trust’s stock worth $952,867,000 after purchasing an additional 438,673 shares during the last quarter. State Street Corp increased its position in Sun Communities by 5.9% in the third quarter. State Street Corp now owns 4,506,293 shares of the real estate investment trust’s stock worth $672,284,000 after purchasing an additional 251,444 shares during the last quarter. Principal Financial Group Inc. increased its position in Sun Communities by 1.2% in the fourth quarter. Principal Financial Group Inc. now owns 2,878,147 shares of the real estate investment trust’s stock worth $432,010,000 after purchasing an additional 32,927 shares during the last quarter. PGGM Investments increased its position in Sun Communities by 21.5% in the fourth quarter. PGGM Investments now owns 1,664,576 shares of the real estate investment trust’s stock worth $249,853,000 after purchasing an additional 294,093 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in Sun Communities by 96.2% in the fourth quarter. California Public Employees Retirement System now owns 748,622 shares of the real estate investment trust’s stock worth $112,368,000 after purchasing an additional 366,999 shares during the last quarter. Hedge funds and other institutional investors own 93.71% of the company’s stock.

Shares of SUI opened at $167.99 on Friday. The company’s fifty day moving average is $155.96 and its 200 day moving average is $152.49. Sun Communities Inc has a fifty-two week low of $109.00 and a fifty-two week high of $168.36. The stock has a market capitalization of $15.38 billion, a PE ratio of 34.22, a P/E/G ratio of 3.75 and a beta of 0.23.

Separately, Zacks Investment Research cut shares of Sun Communities from a “buy” rating to a “hold” rating in a research report on Tuesday, December 31st.

In other news, Director Brian M. Hermelin acquired 1,010 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was bought at an average cost of $148.48 per share, with a total value of $149,964.80. Following the completion of the purchase, the director now directly owns 15,000 shares of the company’s stock, valued at $2,227,200. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary A. Shiffman sold 115,000 shares of Sun Communities stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $159.00, for a total transaction of $18,285,000.00. Insiders own 3.34% of the company’s stock.

Sun Communities Profile

Sun Communities, Inc is a REIT that, as of March 31, 2019, owned, operated, or had an interest in a portfolio of 379 communities comprising over 132,000 developed sites in 31 states and Ontario, Canada.

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

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