BlueCrest Capital Management Ltd purchased a new position in shares of Sun Communities, Inc. (NYSE:SUI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,901 shares of the real estate investment trust’s stock, valued at approximately $342,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nationwide Fund Advisors boosted its position in shares of Sun Communities by 18.4% during the second quarter. Nationwide Fund Advisors now owns 13,635 shares of the real estate investment trust’s stock worth $1,196,000 after purchasing an additional 2,122 shares in the last quarter. Thrivent Financial For Lutherans boosted its position in shares of Sun Communities by 0.3% during the first quarter. Thrivent Financial For Lutherans now owns 60,971 shares of the real estate investment trust’s stock worth $4,898,000 after purchasing an additional 200 shares in the last quarter. UBS Group AG boosted its position in shares of Sun Communities by 29.5% during the first quarter. UBS Group AG now owns 66,239 shares of the real estate investment trust’s stock worth $5,322,000 after purchasing an additional 15,087 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Sun Communities by 17.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 621,487 shares of the real estate investment trust’s stock worth $54,499,000 after purchasing an additional 92,444 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Sun Communities by 18.3% during the first quarter. Morgan Stanley now owns 170,543 shares of the real estate investment trust’s stock worth $13,699,000 after purchasing an additional 26,419 shares in the last quarter. 94.41% of the stock is currently owned by institutional investors.
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Shares of Sun Communities, Inc. (NYSE:SUI) traded up 0.49% during mid-day trading on Friday, hitting $90.07. 260,308 shares of the company traded hands. The firm has a 50-day moving average of $88.13 and a 200-day moving average of $87.46. Sun Communities, Inc. has a one year low of $69.90 and a one year high of $91.87. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of 128.86 and a beta of 0.30.
Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 the consensus estimate of $239.45 million. During the same period in the prior year, the company posted $1.13 EPS. On average, equities analysts predict that Sun Communities, Inc. will post $0.99 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a $0.67 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.68 annualized dividend and a yield of 2.98%. Sun Communities’s payout ratio is 362.16%.
SUI has been the topic of a number of research analyst reports. BidaskClub lowered shares of Sun Communities from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Royal Bank Of Canada restated a “buy” rating and set a $92.00 price objective on shares of Sun Communities in a report on Sunday, July 16th. Zacks Investment Research lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Robert W. Baird restated a “buy” rating and set a $95.00 price objective on shares of Sun Communities in a report on Friday, September 8th. Finally, BMO Capital Markets started coverage on shares of Sun Communities in a report on Monday, October 9th. They set an “outperform” rating and a $96.00 price objective on the stock. One equities 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 stock presently has an average rating of “Hold” and an average price target of $92.29.
In other news, COO John Bandini Mclaren sold 5,400 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $88.43, for a total transaction of $477,522.00. Following the completion of the transaction, the chief operating officer now directly owns 153,159 shares in the company, valued at approximately $13,543,850.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan Colman sold 3,000 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $85.44, for a total value of $256,320.00. Following the transaction, the executive vice president now owns 33,985 shares of the company’s stock, valued at $2,903,678.40. The disclosure for this sale can be found here. Insiders sold a total of 14,984 shares of company stock valued at $1,301,796 over the last 90 days. 4.15% of the stock is currently owned by corporate 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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