Stevens Capital Management LP Takes Position in Sun Communities Inc (NYSE:SUI)

Stevens Capital Management LP acquired a new stake in shares of Sun Communities Inc (NYSE:SUI) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 10,069 shares of the real estate investment trust’s stock, valued at approximately $1,291,000.

Several other institutional investors have also recently made changes to their positions in SUI. Penserra Capital Management LLC bought a new position in shares of Sun Communities during the 1st quarter valued at about $58,000. Whittier Trust Co. purchased a new stake in Sun Communities during the 2nd quarter valued at about $82,000. Optimum Investment Advisors boosted its holdings 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 valued at $92,000 after acquiring an additional 100 shares during the period. AdvisorNet Financial Inc boosted its holdings in Sun Communities by 351.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 902 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 702 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Sun Communities during the 2nd quarter valued at about $128,000. Hedge funds and other institutional investors own 89.31% of the company’s stock.

Shares of SUI stock opened at $146.03 on Friday. The stock has a market capitalization of $12.88 billion, a PE ratio of 31.88, a P/E/G ratio of 4.90 and a beta of 0.27. Sun Communities Inc has a 1-year low of $94.63 and a 1-year high of $146.59. The business has a 50-day moving average of $134.68 and a 200 day moving average of $124.05.

Sun Communities (NYSE:SUI) last issued its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.67). The company had revenue of $312.45 million for the quarter, compared to analysts’ expectations of $295.20 million. Sun Communities had a net margin of 11.05% and a return on equity of 4.01%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.07 earnings per share. Research analysts anticipate that Sun Communities Inc will post 4.87 EPS for the current fiscal year.

Several brokerages recently weighed in on SUI. BMO Capital Markets increased their target price on Sun Communities to $132.00 and gave the company an “outperform” rating in a report on Monday, June 3rd. Zacks Investment Research cut Sun Communities from a “buy” rating to a “hold” rating in a report on Wednesday, June 5th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Sun Communities presently has a consensus rating of “Hold” and an average price target of $118.67.

Sun Communities 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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Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

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