SG Capital Management LLC trimmed its stake in shares of Sun Communities Inc (NYSE:SUI) by 41.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 170,648 shares of the real estate investment trust’s stock after selling 120,234 shares during the period. Sun Communities comprises about 4.3% of SG Capital Management LLC’s holdings, making the stock its 4th biggest holding. SG Capital Management LLC’s holdings in Sun Communities were worth $17,328,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strs Ohio lifted its holdings in shares of Sun Communities by 4.5% during the second quarter. Strs Ohio now owns 115,753 shares of the real estate investment trust’s stock valued at $11,329,000 after purchasing an additional 5,033 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Sun Communities by 3.4% during the first quarter. Principal Financial Group Inc. now owns 2,965,275 shares of the real estate investment trust’s stock valued at $270,938,000 after purchasing an additional 98,004 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Sun Communities by 29.3% during the second quarter. US Bancorp DE now owns 9,833 shares of the real estate investment trust’s stock valued at $962,000 after purchasing an additional 2,231 shares during the last quarter. Centersquare Investment Management LLC lifted its holdings in shares of Sun Communities by 1.2% during the second quarter. Centersquare Investment Management LLC now owns 1,625,352 shares of the real estate investment trust’s stock valued at $159,090,000 after purchasing an additional 18,556 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Sun Communities during the second quarter valued at $137,000. 93.00% of the stock is owned by institutional investors and hedge funds.
In other news, COO John Bandini Mclaren sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $96.16, for a total transaction of $625,040.00. Following the completion of the sale, the chief operating officer now directly owns 162,294 shares of the company’s stock, valued at approximately $15,606,191.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Clunet R. Lewis sold 1,200 shares of the firm’s stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $99.95, for a total value of $119,940.00. Following the sale, the director now directly owns 19,400 shares of the company’s stock, valued at $1,939,030. The disclosure for this sale can be found here. 3.69% of the stock is currently owned by corporate insiders.
Sun Communities stock traded up $0.52 during mid-day trading on Friday, hitting $99.83. The company’s stock had a trading volume of 489 shares, compared to its average volume of 425,068. The company has a market cap of $8.06 billion, a P/E ratio of 24.00, a P/E/G ratio of 3.29 and a beta of 0.06. Sun Communities Inc has a 52-week low of $80.12 and a 52-week high of $103.74.
Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, July 25th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.03). The business had revenue of $271.43 million during the quarter, compared to analysts’ expectations of $235.02 million. Sun Communities had a return on equity of 3.44% and a net margin of 8.91%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.96 earnings per share. Research analysts forecast that Sun Communities Inc will post 4.6 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.84%. The ex-dividend date was Thursday, September 27th. Sun Communities’s dividend payout ratio is currently 68.11%.
Several equities research analysts have recently commented on SUI shares. Wells Fargo & Co upped their target price on Sun Communities from $103.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, August 24th. BMO Capital Markets upped their target price on Sun Communities to $109.00 and gave the company an “outperform” rating in a report on Tuesday, September 11th. ValuEngine raised Sun Communities from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Zacks Investment Research downgraded Sun Communities from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. Finally, Citigroup upped their target price on Sun Communities from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Monday, July 30th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Sun Communities currently has an average rating of “Buy” and an average target price of $103.86.
About Sun Communities
Sun Communities, Inc is a REIT that, as of June 30, 2018, owned, operated, or had an interest in a portfolio of 367 communities comprising approximately 126,000 developed sites in 31 states and Ontario, Canada. For more information about Sun Communities, Inc, please visit www.suncommunities.com.
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