Teachers Advisors LLC raised its holdings in shares of Sun Communities (NYSE:SUI) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 698,757 shares of the real estate investment trust’s stock after acquiring an additional 3,656 shares during the quarter. Teachers Advisors LLC owned about 0.88% of Sun Communities worth $64,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of SUI. American Century Companies Inc. grew its position in shares of Sun Communities by 3,848.1% during the 4th quarter. American Century Companies Inc. now owns 609,195 shares of the real estate investment trust’s stock valued at $56,521,000 after purchasing an additional 593,765 shares in the last quarter. Bank of New York Mellon Corp grew its position in Sun Communities by 25.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,197,655 shares of the real estate investment trust’s stock worth $203,897,000 after acquiring an additional 452,380 shares in the last quarter. Renaissance Technologies LLC grew its position in Sun Communities by 52.1% in the fourth quarter. Renaissance Technologies LLC now owns 857,200 shares of the real estate investment trust’s stock worth $79,531,000 after acquiring an additional 293,600 shares in the last quarter. Capital Growth Management LP grew its position in Sun Communities by 77.6% in the third quarter. Capital Growth Management LP now owns 515,000 shares of the real estate investment trust’s stock worth $44,125,000 after acquiring an additional 225,000 shares in the last quarter. Finally, Picton Mahoney Asset Management purchased a new position in Sun Communities in the third quarter worth $14,651,000. 94.64% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on SUI shares. Zacks Investment Research upgraded shares of Sun Communities from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research report on Wednesday, December 27th. BMO Capital Markets set a $97.00 price objective on shares of Sun Communities and gave the company a “buy” rating in a research note on Wednesday, February 21st. ValuEngine downgraded shares of Sun Communities from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Finally, Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $100.00 to $95.00 in a research note on Friday, January 5th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $94.67.
SUI traded down $0.13 during 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 PEG ratio of 3.19 and a beta of 0.11. Sun Communities has a one year low of $80.12 and a one year high of $96.08.
Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.98. The company had revenue of $242.00 million for 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%. Sun Communities’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 EPS. research analysts expect that Sun Communities will post 4.54 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be paid a $0.71 dividend. This is a boost from Sun Communities’s previous quarterly dividend of $0.67. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Wednesday, March 28th. Sun Communities’s dividend payout ratio (DPR) is presently 68.11%.
In other Sun Communities news, Director Clunet R. Lewis sold 2,200 shares of the business’s 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 sale, the director now directly owns 19,400 shares of the company’s stock, valued at approximately $1,704,096. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.15% of the stock is currently owned by insiders.
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Sun Communities 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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