Oppenheimer Asset Management Inc. lessened its holdings in shares of Sun Communities Inc (NYSE:SUI) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,820 shares of the real estate investment trust’s stock after selling 729 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Sun Communities were worth $2,230,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc lifted its holdings in shares of Sun Communities by 5.4% during the 3rd quarter. Vanguard Group Inc now owns 11,641,879 shares of the real estate investment trust’s stock valued at $1,182,116,000 after purchasing an additional 600,622 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Sun Communities by 6.5% during the 4th quarter. BlackRock Inc. now owns 6,810,473 shares of the real estate investment trust’s stock valued at $692,694,000 after purchasing an additional 416,425 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Sun Communities by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,214,673 shares of the real estate investment trust’s stock valued at $123,542,000 after purchasing an additional 32,701 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Sun Communities by 12.8% during the 4th quarter. Geode Capital Management LLC now owns 1,073,705 shares of the real estate investment trust’s stock valued at $109,206,000 after purchasing an additional 121,836 shares during the last quarter. Finally, Teachers Advisors LLC lifted its holdings in shares of Sun Communities by 19.0% during the 3rd quarter. Teachers Advisors LLC now owns 840,347 shares of the real estate investment trust’s stock valued at $85,329,000 after purchasing an additional 134,441 shares during the last quarter. Hedge funds and other institutional investors own 94.31% of the company’s stock.
Several analysts have recently commented on the company. Wells Fargo & Co lowered Sun Communities from an “outperform” rating to a “market perform” rating and set a $118.00 price objective for the company. in a report on Tuesday, March 26th. Zacks Investment Research lowered Sun Communities from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $110.17.
Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, April 24th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.06. Sun Communities had a return on equity of 3.79% and a net margin of 10.00%. The firm had revenue of $287.33 million for the quarter, compared to the consensus estimate of $279.54 million. During the same period in the prior year, the firm earned $1.14 EPS. The firm’s revenue was up 11.4% on a year-over-year basis. Research analysts predict that Sun Communities Inc will post 4.83 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.46%. This is an increase from Sun Communities’s previous quarterly dividend of $0.71. The ex-dividend date was Thursday, March 28th. Sun Communities’s dividend payout ratio is presently 65.50%.
In other Sun Communities news, Director Clunet R. Lewis sold 2,400 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $117.34, for a total transaction of $281,616.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $2,346,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur A. Weiss purchased 257,179 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were bought at an average cost of $117.84 per share, for a total transaction of $30,305,973.36. Following the completion of the transaction, the director now directly owns 29,156 shares in the company, valued at approximately $3,435,743.04. The disclosure for this purchase can be found here. Over the last three months, insiders sold 16,912 shares of company stock worth $1,985,363. 3.34% of the stock is owned by insiders.
Sun Communities Company Profile
Sun Communities, Inc is a REIT that, as of December 31, 2018, owned, operated, or had an interest in a portfolio of 371 communities comprising over 128,000 developed sites in 31 states and Ontario, Canada.
Recommended Story: Stop Order Uses For Individual Investors
Want to see what other hedge funds are holding SUI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Communities Inc (NYSE:SUI).
Receive News & Ratings for Sun Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Communities and related companies with MarketBeat.com's FREE daily email newsletter.