Banque Cantonale Vaudoise Decreases Stock Position in Sun Communities, Inc. (NYSE:SUI)

Banque Cantonale Vaudoise lessened its stake in Sun Communities, Inc. (NYSE:SUI) by 20.0% in the first quarter, Holdings Channel reports. The fund owned 800 shares of the real estate investment trust’s stock after selling 200 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Sun Communities were worth $120,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Redpoint Investment Management Pty Ltd boosted its holdings in Sun Communities by 10.5% in the 1st quarter. Redpoint Investment Management Pty Ltd now owns 9,586 shares of the real estate investment trust’s stock worth $1,438,000 after acquiring an additional 913 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Sun Communities by 7.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,675,768 shares of the real estate investment trust’s stock valued at $254,627,000 after buying an additional 119,030 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Sun Communities by 7.2% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,855 shares of the real estate investment trust’s stock valued at $2,078,000 after buying an additional 929 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Sun Communities by 8.7% during the 4th quarter. Toronto Dominion Bank now owns 42,555 shares of the real estate investment trust’s stock valued at $6,466,000 after buying an additional 3,393 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Sun Communities during the 4th quarter valued at approximately $152,726,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

In other news, CFO Karen Dearing sold 14,899 shares of the stock in a transaction on Thursday, May 20th. The stock was sold at an average price of $165.00, for a total value of $2,458,335.00. Also, CEO Gary A. Shiffman sold 32,422 shares of the stock in a transaction on Monday, May 24th. The stock was sold at an average price of $167.63, for a total value of $5,434,899.86. Following the completion of the transaction, the chief executive officer now directly owns 798,406 shares of the company’s stock, valued at approximately $133,836,797.78. The disclosure for this sale can be found here. In the last three months, insiders sold 50,121 shares of company stock valued at $8,356,915. Company insiders own 1.93% of the company’s stock.

Several equities analysts have recently commented on the company. Wells Fargo & Company increased their target price on Sun Communities from $153.00 to $174.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 25th. They noted that the move was a valuation call. Zacks Investment Research cut Sun Communities from a “buy” rating to a “hold” rating in a research note on Saturday, May 1st. UBS Group began coverage on Sun Communities in a research report on Thursday, June 3rd. They set a “buy” rating and a $190.00 price target on the stock. BMO Capital Markets began coverage on Sun Communities in a research report on Sunday, March 7th. They set a “buy” rating and a $165.00 price target on the stock. Finally, Royal Bank of Canada upped their price target on Sun Communities from $162.00 to $171.00 and gave the company an “outperform” rating in a research report on Wednesday, April 28th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Sun Communities has a consensus rating of “Buy” and a consensus price target of $169.75.

Shares of NYSE SUI opened at $177.58 on Friday. Sun Communities, Inc. has a 1-year low of $132.65 and a 1-year high of $178.17. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.10 and a quick ratio of 3.10. The stock has a fifty day moving average of $163.39. The firm has a market capitalization of $19.86 billion, a price-to-earnings ratio of 102.06, a PEG ratio of 3.51 and a beta of 0.54.

Sun Communities (NYSE:SUI) last issued its earnings results on Sunday, April 25th. The real estate investment trust reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Sun Communities had a return on equity of 3.30% and a net margin of 11.27%. The firm had revenue of $442.00 million for the quarter, compared to analyst estimates of $315.24 million. During the same period last year, the company earned $1.22 earnings per share. The firm’s revenue for the quarter was up 42.4% on a year-over-year basis. On average, equities research analysts predict that Sun Communities, Inc. will post 6.03 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 15th. Stockholders of record on Wednesday, June 30th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Tuesday, June 29th. This represents a $3.32 annualized dividend and a dividend yield of 1.87%. Sun Communities’s payout ratio is 65.23%.

About Sun Communities

Sun Communities, Inc is a REIT that, as of September 30, 2020, owned, operated, or had an interest in a portfolio of 432 communities comprising nearly 146,000 developed sites in 32 states and Ontario, Canada.

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

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