All Terrain Financial Advisors LLC bought a new position in shares of Sun Communities (NYSE:SUI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,160 shares of the real estate investment trust’s stock, valued at approximately $200,000.
Several other institutional investors have also recently bought and sold shares of SUI. The Manufacturers Life Insurance Company raised 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 worth $202,000 after purchasing an additional 178 shares during the period. Nationwide Fund Advisors grew its stake in Sun Communities by 869.0% in the 3rd quarter. Nationwide Fund Advisors now owns 132,117 shares of the real estate investment trust’s stock valued at $11,320,000 after buying an additional 118,482 shares in the last quarter. First Trust Advisors LP grew its stake in Sun Communities by 96.4% in the 3rd quarter. First Trust Advisors LP now owns 41,423 shares of the real estate investment trust’s stock valued at $3,549,000 after buying an additional 20,337 shares in the last quarter. State of Wisconsin Investment Board grew its stake in Sun Communities by 9.5% in the 3rd quarter. State of Wisconsin Investment Board now owns 15,655 shares of the real estate investment trust’s stock valued at $1,341,000 after buying an additional 1,364 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new position in Sun Communities in the 3rd quarter valued at approximately $232,000. 94.64% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Clunet R. Lewis sold 2,200 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $87.84, for a total value of $193,248.00. Following the completion of the transaction, the director now directly owns 19,400 shares of the company’s stock, valued at $1,704,096. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.15% of the stock is owned by corporate insiders.
A number of research firms recently weighed in on SUI. Zacks Investment Research upgraded shares of Sun Communities from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research note on Thursday. ValuEngine upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a research report on Thursday, March 15th. BMO Capital Markets set a $97.00 price target on shares of Sun Communities and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, Robert W. Baird upgraded shares of Sun Communities from a “neutral” rating to an “outperform” rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $94.67.
Sun Communities stock traded down $0.13 during mid-day trading on Friday, hitting $91.12. The company’s stock had a trading volume of 432,751 shares, compared to its average volume of 428,213. The company has a market capitalization of $7,278.21, a PE ratio of 21.85, a P/E/G ratio of 3.19 and a beta of 0.11. Sun Communities has a 12 month low of $80.12 and a 12 month high of $96.08.
Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.98 EPS for the quarter, meeting the consensus estimate of $0.98. The firm had revenue of $242.00 million during the quarter, compared to the consensus estimate of $207.51 million. Sun Communities had a net margin of 8.01% and a return on equity of 2.98%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 earnings per share. analysts predict that Sun Communities will post 4.54 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.12%. This is an increase from Sun Communities’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Wednesday, March 28th. Sun Communities’s dividend payout ratio is 68.11%.
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Sun Communities Company Profile
Sun Communities, Inc provides real estate management services. The company operates through the following segments: Real Property Operations and Home Sales & Rentals. The Real Property Operations segment owns, operates, and develops manufacture housing communities and recreational vehicle communities throughout the United States and is in the business of acquiring, operating, and expanding manufactured housing and recreational vehicle communities.
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