Alphasimplex Group LLC purchased a new position in shares of Sun Communities Inc (NYSE:SUI) in the first quarter, Holdings Channel reports. The fund purchased 3,407 shares of the real estate investment trust’s stock, valued at approximately $404,000.
A number of other hedge funds have also made changes to their positions in the business. Utah Retirement Systems boosted its position in Sun Communities by 0.6% during the 4th quarter. Utah Retirement Systems now owns 18,098 shares of the real estate investment trust’s stock worth $1,840,000 after acquiring an additional 100 shares during the period. MML Investors Services LLC boosted its position in Sun Communities by 3.4% during the 4th quarter. MML Investors Services LLC now owns 3,078 shares of the real estate investment trust’s stock worth $313,000 after acquiring an additional 100 shares during the period. First Hawaiian Bank boosted its position in Sun Communities by 0.9% during the 1st quarter. First Hawaiian Bank now owns 10,690 shares of the real estate investment trust’s stock worth $1,267,000 after acquiring an additional 100 shares during the period. Optimum Investment Advisors boosted its position in Sun Communities by 14.8% during the 1st quarter. Optimum Investment Advisors now owns 775 shares of the real estate investment trust’s stock worth $92,000 after acquiring an additional 100 shares during the period. Finally, Telemus Capital LLC boosted its position in Sun Communities by 1.9% during the 1st quarter. Telemus Capital LLC now owns 7,281 shares of the real estate investment trust’s stock worth $863,000 after acquiring an additional 134 shares during the period. Institutional investors own 88.80% of the company’s stock.
Shares of Sun Communities stock opened at $128.63 on Wednesday. The firm has a market capitalization of $11.74 billion, a PE ratio of 28.09, a PEG ratio of 6.68 and a beta of 0.27. Sun Communities Inc has a fifty-two week low of $94.50 and a fifty-two week high of $130.53.
Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.06. The business had revenue of $287.33 million during the quarter, compared to analyst estimates of $279.54 million. Sun Communities had a return on equity of 3.76% and a net margin of 10.00%. The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Analysts forecast that Sun Communities Inc will post 4.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.75 dividend. The ex-dividend date is Thursday, June 27th. This represents a $3.00 annualized dividend and a dividend yield of 2.33%. Sun Communities’s dividend payout ratio (DPR) is 65.50%.
SUI has been the subject of a number of analyst reports. Zacks Investment Research upgraded Sun Communities from a “hold” rating to a “buy” rating and set a $141.00 price target for the company in a research report on Thursday, May 30th. Wells Fargo & Co lowered Sun Communities from an “outperform” rating to a “market perform” rating and set a $118.00 price target for the company. in a research report on Tuesday, March 26th. Finally, BMO Capital Markets boosted their price target on Sun Communities to $132.00 and gave the stock an “outperform” rating in a research report on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $118.67.
In other news, Director Clunet R. Lewis sold 2,400 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $117.34, for a total value of $281,616.00. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at $2,346,800. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.34% of the company’s stock.
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Sun Communities Company Profile
Sun Communities, Inc is a REIT that, as of March 31, 2019, owned, operated, or had an interest in a portfolio of 379 communities comprising over 132,000 developed sites in 31 states and Ontario, Canada.
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