United Services Automobile Association trimmed its holdings in Sun Communities Inc (NYSE:SUI) by 10.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,850 shares of the real estate investment trust’s stock after selling 1,662 shares during the period. United Services Automobile Association’s holdings in Sun Communities were worth $1,775,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. Whittier Trust Co. purchased a new stake in shares of Sun Communities in the second quarter worth about $82,000. Altshuler Shaham Ltd lifted its position in shares of Sun Communities by 94.1% in the second quarter. Altshuler Shaham Ltd now owns 720 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 349 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Sun Communities in the second quarter worth about $115,000. AdvisorNet Financial Inc lifted its position in shares of Sun Communities by 351.0% in the second quarter. AdvisorNet Financial Inc now owns 902 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 702 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Sun Communities in the second quarter worth about $128,000. Institutional investors and hedge funds own 92.85% of the company’s stock.
A number of equities research analysts recently commented on the company. Wells Fargo & Co boosted their target price on Sun Communities from $118.00 to $137.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 18th. ValuEngine downgraded Sun Communities from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research downgraded Sun Communities from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $136.25.
In other Sun Communities news, CFO Karen Dearing sold 11,204 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $148.50, for a total transaction of $1,663,794.00. Following the sale, the chief financial officer now directly owns 110,126 shares of the company’s stock, valued at $16,353,711. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arthur A. Weiss sold 257 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $147.57, for a total value of $37,925.49. Following the transaction, the director now directly owns 29,156 shares in the company, valued at approximately $4,302,550.92. The disclosure for this sale can be found here. Insiders have sold 18,871 shares of company stock worth $2,789,063 over the last three months. 3.34% of the stock is currently owned by insiders.
Shares of NYSE SUI opened at $153.41 on Wednesday. The business’s 50 day moving average is $148.43 and its two-hundred day moving average is $132.76. Sun Communities Inc has a 1-year low of $94.63 and a 1-year high of $153.26. The stock has a market capitalization of $13.91 billion, a P/E ratio of 33.50, a PEG ratio of 5.17 and a beta of 0.22.
Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.67). Sun Communities had a return on equity of 4.01% and a net margin of 11.05%. The company had revenue of $312.45 million for the quarter, compared to the consensus estimate of $295.20 million. During the same period in the previous year, the firm earned $1.07 earnings per share. The company’s revenue was up 15.1% compared to the same quarter last year. As a group, equities analysts predict that Sun Communities Inc will post 4.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.00 annualized dividend and a yield of 1.96%. Sun Communities’s payout ratio is currently 65.50%.
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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