GSA Capital Partners LLP Takes $651,000 Position in Sun Communities, Inc. (NYSE:SUI)

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).

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

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