GSA Capital Partners LLP purchased a new position in Sun Communities, Inc. (NYSE:SUI) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 7,429 shares of the real estate investment trust’s stock, valued at approximately $651,000.
A number of other hedge funds and other institutional investors have also modified their holdings of SUI. US Bancorp DE boosted its stake in Sun Communities by 105.2% in the 2nd quarter. US Bancorp DE now owns 1,473 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 755 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in Sun Communities by 6.3% in the 2nd 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 during the last quarter. Laurion Capital Management LP bought a new position in Sun Communities in the 1st quarter valued at $201,000. Moody Aldrich Partners LLC bought a new position in Sun Communities in the 2nd quarter valued at $201,000. Finally, Nine Chapters Capital Management LLC bought a new position in Sun Communities in the 2nd quarter valued at $202,000. 94.31% of the stock is currently owned by institutional investors.
Shares of Sun Communities, Inc. (NYSE:SUI) opened at 88.00 on Tuesday. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 125.89 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. The firm has a 50-day moving average price of $88.24 and a 200 day moving average price of $87.02.
Sun Communities (NYSE:SUI) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.03). The company had revenue of $237.90 million during the quarter, compared to analysts’ expectations of $210.58 million. Sun Communities had a return on equity of 2.59% and a net margin of 6.82%. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 EPS. On average, analysts predict that Sun Communities, Inc. will post $0.99 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Thursday, September 28th. Sun Communities’s dividend payout ratio is presently 382.86%.
Several equities analysts have issued reports on SUI shares. BidaskClub downgraded Sun Communities from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Royal Bank Of Canada restated a “buy” rating and set a $92.00 target price on shares of Sun Communities in a research report on Sunday, July 16th. Zacks Investment Research downgraded Sun Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Robert W. Baird reiterated a “buy” rating and issued a $95.00 price objective on shares of Sun Communities in a report on Friday, September 8th. Finally, BMO Capital Markets started coverage on Sun Communities in a research note on Monday, October 9th. They issued an “outperform” rating and a $96.00 target price for the company. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $91.71.
In other news, Director Clunet R. Lewis sold 1,292 shares of the firm’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $86.52, for a total transaction of $111,783.84. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Bandini Mclaren sold 5,400 shares of Sun Communities stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $88.43, for a total transaction of $477,522.00. Following the completion of the sale, the chief operating officer now owns 153,159 shares in the company, 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 worth $1,301,796 in the last quarter. Corporate insiders own 4.15% of the company’s stock.
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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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