Rhumbline Advisers Sells 2,120 Shares of Sun Communities (SUI)

Rhumbline Advisers lowered its position in shares of Sun Communities (NYSE:SUI) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,879 shares of the real estate investment trust’s stock after selling 2,120 shares during the quarter. Rhumbline Advisers owned 0.11% of Sun Communities worth $8,121,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Raymond James & Associates boosted its position in Sun Communities by 2.7% during the 4th quarter. Raymond James & Associates now owns 23,487 shares of the real estate investment trust’s stock worth $2,179,000 after acquiring an additional 610 shares during the last quarter. California State Teachers Retirement System boosted its position in Sun Communities by 0.6% during the 4th quarter. California State Teachers Retirement System now owns 129,059 shares of the real estate investment trust’s stock worth $11,974,000 after acquiring an additional 740 shares during the last quarter. California Public Employees Retirement System boosted its position in Sun Communities by 0.6% during the 4th quarter. California Public Employees Retirement System now owns 141,097 shares of the real estate investment trust’s stock worth $13,091,000 after acquiring an additional 778 shares during the last quarter. Amalgamated Bank boosted its position in Sun Communities by 6.2% during the 4th quarter. Amalgamated Bank now owns 14,717 shares of the real estate investment trust’s stock worth $1,365,000 after acquiring an additional 860 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in Sun Communities by 3.7% during the 4th quarter. Lazard Asset Management LLC now owns 26,333 shares of the real estate investment trust’s stock worth $2,443,000 after acquiring an additional 943 shares during the last quarter. 98.92% of the stock is owned by hedge funds and other institutional investors.

In other Sun Communities news, Director Clunet R. Lewis sold 2,200 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $87.84, for a total transaction of $193,248.00. Following the completion of the sale, the director now owns 19,400 shares of the company’s stock, valued at approximately $1,704,096. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.69% of the company’s stock.

A number of research firms have weighed in on SUI. TheStreet raised Sun Communities from a “c+” rating to a “b-” rating in a research report on Monday, April 23rd. Robert W. Baird set a $97.00 price objective on Sun Communities and gave the company a “buy” rating in a report on Tuesday, April 24th. Zacks Investment Research downgraded Sun Communities from a “buy” rating to a “hold” rating and set a $102.00 price objective for the company. in a report on Thursday, April 12th. ValuEngine raised Sun Communities from a “hold” rating to a “buy” rating in a report on Thursday, March 15th. Finally, BMO Capital Markets set a $97.00 price objective on Sun Communities and gave the company a “buy” rating in a report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Sun Communities presently has an average rating of “Buy” and a consensus target price of $95.17.

Sun Communities opened at $91.50 on Friday, according to MarketBeat.com. The company has a market capitalization of $7.41 billion, a PE ratio of 21.94, a P/E/G ratio of 3.23 and a beta of 0.11. Sun Communities has a 12 month low of $91.81 and a 12 month high of $92.70.

Sun Communities (NYSE:SUI) last released its quarterly earnings data on Monday, April 23rd. The real estate investment trust reported $0.38 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.76). The company had revenue of $259.90 million during the quarter, compared to analyst estimates of $242.51 million. Sun Communities had a net margin of 8.49% and a return on equity of 3.16%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 EPS. analysts forecast that Sun Communities will post 4.54 earnings per share for the current year.

About Sun Communities

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

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