Commonwealth Equity Services LLC lowered its position in Sun Communities Inc (NYSE:SUI) by 15.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 12,158 shares of the real estate investment trust’s stock after selling 2,151 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Sun Communities were worth $1,110,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Echo Street Capital Management LLC increased its holdings in Sun Communities by 9.9% in the 1st quarter. Echo Street Capital Management LLC now owns 338,874 shares of the real estate investment trust’s stock worth $30,963,000 after acquiring an additional 30,503 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Sun Communities by 5.4% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 50,877 shares of the real estate investment trust’s stock worth $4,649,000 after acquiring an additional 2,600 shares during the last quarter. Gideon Capital Advisors Inc. bought a new position in Sun Communities in the 1st quarter worth about $308,000. Principal Financial Group Inc. boosted its stake in Sun Communities by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 2,965,275 shares of the real estate investment trust’s stock worth $270,938,000 after purchasing an additional 98,004 shares during the period. Finally, CI Investments Inc. bought a new position in Sun Communities in the 1st quarter worth about $676,000. 93.37% of the stock is owned by institutional investors.
SUI has been the subject of several analyst reports. TheStreet upgraded Sun Communities from a “c+” rating to a “b-” rating in a research note on Monday, April 23rd. Robert W. Baird set a $97.00 target price on Sun Communities and gave the stock a “buy” rating in a research note on Tuesday, April 24th. ValuEngine upgraded Sun Communities from a “hold” rating to a “buy” rating in a research note on Tuesday, May 29th. Finally, Zacks Investment Research upgraded Sun Communities from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a research note on Tuesday, March 20th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $97.00.
Shares of NYSE SUI opened at $97.61 on Tuesday. Sun Communities Inc has a 52 week low of $80.12 and a 52 week high of $98.99. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 3.40 and a beta of 0.12.
Sun Communities (NYSE:SUI) last issued its earnings results on Monday, April 23rd. The real estate investment trust reported $0.38 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.76). The company had revenue of $259.90 million during the quarter, compared to the consensus estimate of $242.51 million. Sun Communities had a return on equity of 3.16% and a net margin of 8.49%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.10 EPS. equities analysts expect that Sun Communities Inc will post 4.54 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.91%. Sun Communities’s dividend payout ratio (DPR) is presently 68.11%.
Sun Communities Company Profile
Sun Communities, Inc is a REIT that, as of March 31, 2018, owned, operated, or had an interest in a portfolio of 350 communities comprising approximately 122,000 developed sites in 29 states and Ontario, Canada. For more information about Sun Communities, Inc, please visit www.suncommunities.com.
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