Parametric Portfolio Associates LLC grew its position in shares of Sun Communities, Inc. (NYSE:SUI) by 11.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,709 shares of the real estate investment trust’s stock after purchasing an additional 8,357 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.11% of Sun Communities worth $7,340,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Comerica Bank boosted its stake in shares of Sun Communities by 0.6% during the first quarter. Comerica Bank now owns 3,117 shares of the real estate investment trust’s stock valued at $263,000 after purchasing an additional 19 shares in the last quarter. Solaris Asset Management LLC boosted its stake in shares of Sun Communities by 1.5% during the second quarter. Solaris Asset Management LLC now owns 6,851 shares of the real estate investment trust’s stock valued at $601,000 after purchasing an additional 100 shares in the last quarter. NGAM Advisors L.P. boosted its stake in shares of Sun Communities by 0.6% during the second quarter. NGAM Advisors L.P. now owns 19,555 shares of the real estate investment trust’s stock valued at $1,715,000 after purchasing an additional 119 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of Sun Communities by 6.3% during the second quarter. Public Employees Retirement Association of Colorado now owns 2,255 shares of the real estate investment trust’s stock valued at $198,000 after purchasing an additional 133 shares in the last quarter. Finally, Thrivent Financial For Lutherans boosted its stake in shares of Sun Communities by 0.3% during the first quarter. Thrivent Financial For Lutherans now owns 60,971 shares of the real estate investment trust’s stock valued at $4,898,000 after purchasing an additional 200 shares in the last quarter. 94.31% of the stock is currently owned by hedge funds and other institutional investors.
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A number of brokerages have recently commented on SUI. BMO Capital Markets began coverage on Sun Communities in a research note on Monday, October 9th. They set an “outperform” rating and a $96.00 price target on the stock. Zacks Investment Research lowered Sun Communities from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Robert W. Baird reissued a “buy” rating and set a $95.00 price target on shares of Sun Communities in a research note on Friday, September 8th. Royal Bank Of Canada reissued a “buy” rating and set a $92.00 price target on shares of Sun Communities in a research note on Sunday, July 16th. Finally, BidaskClub lowered Sun Communities from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $91.71.
Sun Communities, Inc. (NYSE:SUI) opened at 89.00 on Wednesday. The company has a 50 day moving average price of $88.24 and a 200-day moving average price of $87.02. The firm has a market capitalization of $7.03 billion, a price-to-earnings ratio of 127.32 and a beta of 0.30. Sun Communities, Inc. has a 1-year low of $69.90 and a 1-year high of $91.87.
Sun Communities (NYSE:SUI) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $237.90 million for the quarter, compared to analysts’ expectations of $210.58 million. Sun Communities had a net margin of 6.82% and a return on equity of 2.59%. The company’s revenue was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 earnings per share. On average, analysts forecast that Sun Communities, Inc. will post $0.99 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Thursday, September 28th. Sun Communities’s dividend payout ratio is presently 382.86%.
In related news, Director Clunet R. Lewis sold 1,292 shares of the stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $86.52, for a total transaction of $111,783.84. Following the completion of the sale, the director now directly owns 18,800 shares in the company, valued at approximately $1,626,576. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John Bandini Mclaren sold 5,400 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $88.43, for a total value of $477,522.00. Following the sale, the chief operating officer now owns 153,159 shares of the company’s stock, valued at $13,543,850.37. The disclosure for this sale can be found here. Insiders have sold a total of 14,984 shares of company stock valued at $1,301,796 over the last 90 days. 4.15% of the stock is currently owned by company insiders.
Sun Communities Profile
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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