State of Tennessee Treasury Department increased its holdings in shares of Sun Communities Inc (NYSE:SUI) by 100.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,000 shares of the real estate investment trust’s stock after acquiring an additional 25,000 shares during the quarter. State of Tennessee Treasury Department’s holdings in Sun Communities were worth $5,926,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Utah Retirement Systems boosted its position in Sun Communities by 0.6% during the fourth 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 last quarter. MML Investors Services LLC boosted its position in Sun Communities by 3.4% during the fourth 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 last quarter. First Hawaiian Bank boosted its position in Sun Communities by 0.9% during the first 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 last quarter. Optimum Investment Advisors boosted its position in Sun Communities by 14.8% during the first 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 last quarter. Finally, Telemus Capital LLC boosted its position in Sun Communities by 1.9% during the first 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 last quarter. Hedge funds and other institutional investors own 88.80% of the company’s stock.
NYSE:SUI traded down $0.05 on Wednesday, hitting $128.58. The stock had a trading volume of 5,639 shares, compared to its average volume of 462,076. The firm has a market capitalization of $11.74 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 6.68 and a beta of 0.27. Sun Communities Inc has a 1-year low of $94.50 and a 1-year high of $130.53.
Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, April 24th. The real estate investment trust reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.06. The company had revenue of $287.33 million for the quarter, compared to analyst estimates of $279.54 million. Sun Communities had a net margin of 10.00% and a return on equity of 3.76%. Sun Communities’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 EPS. Sell-side analysts anticipate that Sun Communities Inc will post 4.86 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $3.00 annualized dividend and a yield of 2.33%. Sun Communities’s payout ratio is 65.50%.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a research report on Wednesday, June 5th. Wells Fargo & Co lowered shares of Sun Communities from an “outperform” rating to a “market perform” rating and set a $118.00 price target on the stock. in a research report on Tuesday, March 26th. Finally, BMO Capital Markets boosted their price target on shares of Sun Communities to $132.00 and gave the stock an “outperform” rating in a research report on Monday, June 3rd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $118.67.
In other Sun Communities news, Director Clunet R. Lewis sold 2,400 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $117.34, for a total value of $281,616.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $2,346,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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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