Looking back to 26 days ago, Sun Communities Inc (NYSE:SUI) priced a 8,000,000 share secondary stock offering at $139.50 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time. In trading on Monday, bargain hunters could buy shares of SUI and achieve a cost basis even cheaper than those buyers, with shares changing hands as low as $139.08 per share.
Secondaries can often present buying opportunities for bullish investors interested in purchasing shares, because the sudden extra supply of stock tends to require that the offering be priced at an attractive discount to where the stock had previously been trading before the offering announcement. At last check, Sun Communities Inc shares are currently trading down about 1.8% on the day. The chart below shows the one year performance of SUI shares, versus its 200 day moving average:
Looking at the chart above, SUI's low point in its 52 week range is $95.34 per share, with $173.98 as the 52 week high point — that compares with a last trade of $139.53.
The current annualized dividend paid by Sun Communities Inc is $3.16/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 09/29/2020. Below is a long-term dividend history chart for SUI, which can be of good help in judging whether the most recent dividend with approx. 2.2% annualized yield is likely to continue.
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