Dimensional Fund Advisors LP increased its position in Sun Communities Inc. (NYSE:SUI) by 7.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 726,437 shares of the real estate investment trust’s stock after buying an additional 49,581 shares during the period. Dimensional Fund Advisors LP owned 1.06% of Sun Communities worth $55,673,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the company. Teacher Retirement System of Texas increased its position in shares of Sun Communities by 1,114.7% in the second quarter. Teacher Retirement System of Texas now owns 77,753 shares of the real estate investment trust’s stock worth $5,959,000 after buying an additional 71,352 shares during the last quarter. Rafferty Asset Management LLC bought a new position in shares of Sun Communities during the second quarter worth approximately $515,000. Commerce Bank increased its position in shares of Sun Communities by 0.6% in the second quarter. Commerce Bank now owns 6,910 shares of the real estate investment trust’s stock worth $529,000 after buying an additional 40 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Sun Communities by 25.1% in the second quarter. UBS Asset Management Americas Inc. now owns 281,052 shares of the real estate investment trust’s stock worth $21,541,000 after buying an additional 56,467 shares during the last quarter. Finally, Schroder Investment Management Group bought a new position in shares of Sun Communities during the second quarter worth approximately $28,398,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.
Sun Communities Inc. (NYSE:SUI) traded down 0.01% during midday trading on Thursday, hitting $74.45. The company had a trading volume of 71,382 shares. Sun Communities Inc. has a 52-week low of $61.65 and a 52-week high of $85.98. The stock has a 50 day moving average of $77.65 and a 200 day moving average of $73.81. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 37.15 and a beta of 0.52.
Sun Communities (NYSE:SUI) last released its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $140 million for the quarter, compared to analysts’ expectations of $165.78 million. Sun Communities had a return on equity of 8.30% and a net margin of 19.60%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.87 EPS. On average, analysts anticipate that Sun Communities Inc. will post $3.76 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Wednesday, September 28th. Sun Communities’s dividend payout ratio (DPR) is presently 122.64%.
A number of research firms have commented on SUI. Zacks Investment Research downgraded Sun Communities from a “buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets upgraded Sun Communities from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research report on Friday, September 16th. Citigroup Inc. upgraded Sun Communities from a “neutral” rating to a “buy” rating and lifted their target price for the company from $80.00 to $86.00 in a research report on Monday, September 12th. Finally, TheStreet downgraded Sun Communities from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Sun Communities has an average rating of “Buy” and an average target price of $83.00.
In other Sun Communities news, Director Clunet R. Lewis sold 1,800 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $78.16, for a total transaction of $140,688.00. Following the sale, the director now owns 18,400 shares in the company, valued at approximately $1,438,144. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.14% of the company’s stock.
Sun Communities Company Profile
Sun Communities, Inc (SHS) is a self-administered and self-managed real estate investment trust (REIT). The Company operates in two segments: Real Property Operations, and Home Sales and Rentals. The Real Property Operations segment owns, operates and develops manufactured housing (MH) and recreational vehicle (RV) throughout the United States and is in the business of acquiring, operating and expanding MH and RV communities.
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