Boston Advisors LLC reduced its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,557 shares of the real estate investment trust’s stock after selling 3,401 shares during the period. Boston Advisors LLC owned about 0.17% of Sun Communities worth $11,615,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. US Bancorp DE grew its holdings in Sun Communities by 105.2% during the 2nd quarter. US Bancorp DE now owns 1,473 shares of the real estate investment trust’s stock worth $129,000 after acquiring an additional 755 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in shares of 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 acquired a new position in shares of Sun Communities in the 2nd quarter valued at about $201,000. The Manufacturers Life Insurance Company boosted its holdings in shares of 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. Finally, Nine Chapters Capital Management LLC acquired a new position in shares of Sun Communities in the 2nd quarter valued at about $202,000. 94.24% of the stock is owned by institutional investors.
Sun Communities, Inc. (NYSE SUI) traded down $0.10 during mid-day trading on Friday, hitting $92.54. 217,000 shares of the company’s stock were exchanged, compared to its average volume of 363,046. Sun Communities, Inc. has a one year low of $69.90 and a one year high of $93.84. The company has a market cap of $7,350.29, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 3.54 and a beta of 0.28.
Sun Communities (NYSE:SUI) last released its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.79. The company had revenue of $268.20 million for the quarter, compared to the consensus estimate of $239.45 million. Sun Communities had a net margin of 7.37% and a return on equity of 2.76%. During the same period in the previous year, the firm earned $1.13 EPS. sell-side analysts predict that Sun Communities, Inc. will post 4.16 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a $0.67 dividend. The ex-dividend date was Thursday, September 28th. This represents a $2.68 annualized dividend and a dividend yield of 2.90%. Sun Communities’s dividend payout ratio is currently 362.16%.
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In other news, Director Clunet R. Lewis sold 1,292 shares of Sun Communities stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $86.52, for a total value of $111,783.84. Following the transaction, the director now owns 18,800 shares of the company’s stock, valued at approximately $1,626,576. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Clunet R. Lewis sold 5,292 shares of Sun Communities stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $86.20, for a total transaction of $456,170.40. Following the completion of the transaction, the director now directly owns 18,800 shares in the company, valued at $1,620,560. The disclosure for this sale can be found here. Insiders sold a total of 11,584 shares of company stock worth $1,010,694 in the last ninety days. Corporate insiders own 4.15% of the company’s stock.
Several research analysts have recently commented on the stock. Zacks Investment Research raised shares of Sun Communities from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $92.00 price target on shares of Sun Communities in a report on Sunday, July 16th. BMO Capital Markets reaffirmed a “buy” rating and issued a $96.00 price target on shares of Sun Communities in a report on Monday, October 23rd. Finally, Robert W. Baird reiterated a “buy” rating and issued a $95.00 price objective on shares of Sun Communities in a research report on Friday, September 8th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $92.29.
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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