Phocas Financial Corp. lessened its holdings in Sun Communities, Inc. (NYSE:SUI) by 94.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,367 shares of the real estate investment trust’s stock after selling 125,681 shares during the period. Phocas Financial Corp.’s holdings in Sun Communities were worth $646,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of SUI. US Bancorp DE boosted its position 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 during the period. Public Employees Retirement Association of Colorado boosted 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 buying an additional 133 shares during the period. Moody Aldrich Partners LLC purchased a new position in Sun Communities in the 2nd quarter valued at approximately $201,000. Nine Chapters Capital Management LLC purchased a new position in Sun Communities in the 2nd quarter valued at approximately $202,000. Finally, The Manufacturers Life Insurance Company boosted its position in Sun Communities by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,299 shares of the real estate investment trust’s stock valued at $202,000 after buying an additional 178 shares during the period. 94.41% of the stock is owned by institutional investors.
Shares of Sun Communities, Inc. (SUI) traded up 0.49% during trading on Friday, reaching $90.07. 104,475 shares of the company traded hands. Sun Communities, Inc. has a 12 month low of $69.90 and a 12 month high of $91.87. The firm has a market capitalization of $7.12 billion, a PE ratio of 128.86 and a beta of 0.30. The firm has a 50-day moving average price of $88.13 and a 200-day moving average price of $87.46.
Sun Communities (NYSE:SUI) last posted its earnings results on Monday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.79. Sun Communities had a return on equity of 2.76% and a net margin of 7.37%. The business had revenue of $268.20 million during the quarter, compared to analysts’ expectations of $239.45 million. During the same period in the prior year, the business earned $1.13 EPS. Equities research analysts anticipate that Sun Communities, Inc. will post $0.99 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Thursday, September 28th. Sun Communities’s payout ratio is presently 362.16%.
Several research firms have recently issued reports on SUI. Royal Bank Of Canada lifted their price objective on shares of Sun Communities from $95.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday. BMO Capital Markets reaffirmed a “buy” rating and set a $96.00 price objective on shares of Sun Communities in a research report on Monday. Zacks Investment Research cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. BidaskClub cut shares of Sun Communities from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Finally, Robert W. Baird reissued a “buy” rating and issued a $95.00 price target on shares of Sun Communities in a research report on Friday, September 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $92.29.
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In related news, Director Clunet R. Lewis sold 5,292 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $86.20, for a total value of $456,170.40. Following the sale, the director now directly owns 18,800 shares of the company’s stock, valued at $1,620,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO John Bandini Mclaren sold 5,400 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $88.43, for a total value of $477,522.00. Following the completion of the sale, the chief operating officer now directly owns 153,159 shares in the company, valued at $13,543,850.37. The disclosure for this sale can be found here. In the last three months, insiders sold 14,984 shares of company stock valued at $1,301,796. 4.15% of the stock is currently owned by insiders.
Sun Communities Company 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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