Alliancebernstein L.P. boosted its position in Sun Communities Inc (NYSE:SUI) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 505,986 shares of the real estate investment trust’s stock after acquiring an additional 16,896 shares during the quarter. Alliancebernstein L.P.’s holdings in Sun Communities were worth $46,945,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of the stock. Cohen & Steers Inc. boosted its holdings in Sun Communities by 0.4% in the third quarter. Cohen & Steers Inc. now owns 9,567,842 shares of the real estate investment trust’s stock valued at $819,773,000 after acquiring an additional 41,383 shares during the last quarter. BlackRock Inc. raised its position in Sun Communities by 0.6% in the fourth quarter. BlackRock Inc. now owns 5,646,104 shares of the real estate investment trust’s stock valued at $523,847,000 after purchasing an additional 34,356 shares during the period. Daiwa Securities Group Inc. raised its position in Sun Communities by 1.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,694,415 shares of the real estate investment trust’s stock valued at $342,768,000 after purchasing an additional 61,270 shares during the period. Bank of New York Mellon Corp raised its position in Sun Communities by 25.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,197,655 shares of the real estate investment trust’s stock valued at $203,897,000 after purchasing an additional 452,380 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Sun Communities by 2.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,019,268 shares of the real estate investment trust’s stock valued at $87,330,000 after purchasing an additional 25,291 shares during the period. Hedge funds and other institutional investors own 94.78% of the company’s stock.
In other news, Director Clunet R. Lewis sold 2,200 shares of Sun Communities stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $87.84, for a total transaction of $193,248.00. Following the sale, the director now directly owns 19,400 shares of the company’s stock, valued at $1,704,096. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.15% of the stock is currently owned by insiders.
Sun Communities Inc (SUI) opened at $88.57 on Wednesday. Sun Communities Inc has a 52-week low of $78.78 and a 52-week high of $96.08. The company has a market capitalization of $7,070.00, a PE ratio of 104.20, a price-to-earnings-growth ratio of 3.11 and a beta of 0.18.
Sun Communities (NYSE:SUI) last announced its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.98. Sun Communities had a return on equity of 2.98% and a net margin of 8.01%. The business had revenue of $242.00 million for the quarter, compared to analyst estimates of $207.51 million. During the same period in the previous year, the company earned $0.91 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. analysts anticipate that Sun Communities Inc will post 4.54 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.21%. This is a positive change from Sun Communities’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Wednesday, March 28th. Sun Communities’s payout ratio is presently 315.29%.
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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