Green Street Investors LLC boosted its holdings in shares of Sun Communities Inc (NYSE:SUI) by 68.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,700 shares of the real estate investment trust’s stock after purchasing an additional 22,300 shares during the period. Sun Communities comprises approximately 2.8% of Green Street Investors LLC’s investment portfolio, making the stock its 13th biggest holding. Green Street Investors LLC owned approximately 0.07% of Sun Communities worth $5,075,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SUI. Whitnell & Co. purchased a new position in Sun Communities in the third quarter valued at $139,000. The Manufacturers Life Insurance Company increased its holdings in Sun Communities by 8.4% in the second 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 in the last quarter. Virtu KCG Holdings LLC purchased a new position in Sun Communities in the second quarter valued at $231,000. CIBC Asset Management Inc purchased a new position in Sun Communities in the third quarter valued at $232,000. Finally, Advisor Group Inc. increased its holdings in Sun Communities by 23.8% in the third quarter. Advisor Group Inc. now owns 3,307 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 636 shares in the last quarter. 93.49% of the stock is owned by institutional investors.
A number of research analysts have weighed in on SUI shares. BMO Capital Markets started coverage on shares of Sun Communities in a report on Monday, October 9th. They issued an “outperform” rating and a $96.00 price objective for the company. Zacks Investment Research raised shares of Sun Communities from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Wednesday, December 27th. ValuEngine raised shares of Sun Communities from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Evercore ISI raised shares of Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 price objective for the company in a report on Monday, December 4th. Finally, Royal Bank of Canada lifted their price objective on shares of Sun Communities from $95.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday, October 26th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $93.57.
In related news, EVP Jonathan Colman sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $93.21, for a total transaction of $186,420.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.15% of the company’s stock.
Sun Communities Inc (NYSE:SUI) traded up $1.34 during mid-day trading on Tuesday, hitting $89.17. 419,000 shares of the stock were exchanged, compared to its average volume of 363,929. The stock has a market capitalization of $7,110.00, a PE ratio of 120.50, a P/E/G ratio of 3.07 and a beta of 0.27. Sun Communities Inc has a twelve month low of $77.55 and a twelve month high of $96.08.
Sun Communities (NYSE:SUI) last released its 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 business had revenue of $268.20 million during the quarter, compared to analysts’ expectations of $239.45 million. Sun Communities had a net margin of 7.37% and a return on equity of 2.76%. During the same quarter in the previous year, the company earned $1.13 earnings per share. analysts predict that Sun Communities Inc will post 4.16 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a dividend of $0.67 per share. The ex-dividend date was Thursday, December 28th. This represents a $2.68 dividend on an annualized basis and a yield of 3.01%. Sun Communities’s payout ratio is presently 362.16%.
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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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