Strs Ohio cut its position in Sun Communities Inc. (NYSE:SUI) by 15.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,190 shares of the real estate investment trust’s stock after selling 16,353 shares during the period. Strs Ohio’s holdings in Sun Communities were worth $6,605,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Daiwa Securities Group Inc. raised its stake in shares of Sun Communities by 2.0% in the second quarter. Daiwa Securities Group Inc. now owns 3,143,552 shares of the real estate investment trust’s stock worth $240,922,000 after buying an additional 60,284 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Sun Communities by 4.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,097,222 shares of the real estate investment trust’s stock worth $150,182,000 after buying an additional 80,780 shares in the last quarter. State Street Corp raised its stake in shares of Sun Communities by 3.2% in the first quarter. State Street Corp now owns 1,853,072 shares of the real estate investment trust’s stock worth $132,701,000 after buying an additional 57,498 shares in the last quarter. GW&K Investment Management LLC raised its stake in shares of Sun Communities by 2.3% in the second quarter. GW&K Investment Management LLC now owns 689,388 shares of the real estate investment trust’s stock worth $52,835,000 after buying an additional 15,805 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Sun Communities by 60.2% in the first quarter. Nuveen Asset Management LLC now owns 617,543 shares of the real estate investment trust’s stock worth $44,222,000 after buying an additional 232,138 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.
Sun Communities Inc. (NYSE:SUI) traded down 1.61% during trading on Monday, hitting $77.22. 459,226 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $77.78 and its 200 day moving average price is $73.76. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of 38.53 and a beta of 0.52. Sun Communities Inc. has a 12-month low of $61.65 and a 12-month high of $85.98.
Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.85 EPS 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 net margin of 19.60% and a return on equity of 8.30%. The business’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company earned $0.87 EPS. Equities analysts forecast that Sun Communities Inc. will post $3.76 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.60 dividend on an annualized basis and a yield of 3.37%. Sun Communities’s dividend payout ratio is currently 122.64%.
A number of analysts have recently commented on SUI shares. BMO Capital Markets upgraded shares of Sun Communities from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research note on Friday, September 16th. TheStreet lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. Citigroup Inc. upgraded shares of Sun Communities from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $80.00 to $86.00 in a research note on Monday, September 12th. Finally, Zacks Investment Research upgraded shares of Sun Communities from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research report on Wednesday, July 27th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $83.00.
In related news, Director Clunet R. Lewis sold 1,800 shares of Sun Communities stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $78.16, for a total value of $140,688.00. Following the sale, the director now owns 18,400 shares of the company’s stock, valued at approximately $1,438,144. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.14% of the stock is currently owned by corporate insiders.
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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