Sun Communities, Inc. (SUI) Position Lowered by Phocas Financial Corp.

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).

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

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