Cadence Capital Management LLC cut its holdings in Sun Communities Inc (NYSE:SUI) by 11.6% during the fourth quarter, Holdings Channel reports. The fund owned 4,941 shares of the real estate investment trust’s stock after selling 647 shares during the period. Cadence Capital Management LLC’s holdings in Sun Communities were worth $458,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Whitnell & Co. bought a new position in Sun Communities in the third quarter valued at approximately $139,000. Moody Aldrich Partners LLC bought a new position in Sun Communities in the fourth quarter valued at approximately $212,000. The Manufacturers Life Insurance Company boosted its stake in Sun Communities by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,299 shares of the real estate investment trust’s stock valued at $202,000 after acquiring an additional 178 shares during the last quarter. Virtu KCG Holdings LLC bought a new position in Sun Communities in the second quarter valued at approximately $231,000. Finally, Lourd Capital LLC bought a new position in Sun Communities in the fourth quarter valued at approximately $249,000. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on SUI. Robert W. Baird reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Sun Communities in a research note on Monday, December 11th. ValuEngine cut shares of Sun Communities from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Evercore ISI raised shares of 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. Zacks Investment Research cut shares of Sun Communities from a “buy” rating to a “hold” rating in a research note on Thursday, December 28th. Finally, Royal Bank of Canada raised their price objective on shares of Sun Communities from $95.00 to $96.00 and gave the company an “outperform” rating in a research note on Thursday, October 26th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Sun Communities has a consensus rating of “Buy” and an average target price of $93.57.

Sun Communities Inc (NYSE:SUI) opened at $85.02 on Thursday. The firm has a market cap of $6,750.00, a price-to-earnings ratio of 114.89, a PEG ratio of 2.98 and a beta of 0.15. Sun Communities Inc has a 52-week low of $78.78 and a 52-week high of $96.08.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.15%. Sun Communities’s dividend payout ratio is 362.16%.

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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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