Credit Suisse AG Acquires 18,726 Shares of Sun Communities Inc (SUI)

Credit Suisse AG raised its position in Sun Communities Inc (NYSE:SUI) by 4.6% during the first quarter, Holdings Channel reports. The fund owned 425,958 shares of the real estate investment trust’s stock after buying an additional 18,726 shares during the period. Credit Suisse AG’s holdings in Sun Communities were worth $34,218,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Norris Perne & French LLP MI purchased a new position in Sun Communities during the first quarter worth $201,000. Laurion Capital Management LP purchased a new position in Sun Communities during the first quarter worth $201,000. PNC Financial Services Group Inc. raised its position in Sun Communities by 18.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,067 shares of the real estate investment trust’s stock worth $247,000 after buying an additional 469 shares in the last quarter. Comerica Bank purchased a new position in Sun Communities during the fourth quarter worth $241,000. Finally, Douglas Lane & Associates LLC purchased a new position in Sun Communities during the first quarter worth $249,000. Institutional investors own 88.81% of the company’s stock.

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

Shares of Sun Communities Inc (NYSE SUI) traded down 0.27% during trading on Friday, reaching $90.28. 309,839 shares of the company traded hands. The firm has a 50-day moving average price of $86.52 and a 200-day moving average price of $81.20. Sun Communities Inc has a 12 month low of $69.90 and a 12 month high of $91.37. The firm has a market capitalization of $6.66 billion, a PE ratio of 206.59 and a beta of 0.32.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.03. The firm had revenue of $234.40 million for the quarter, compared to analyst estimates of $194.89 million. Sun Communities had a net margin of 10.90% and a return on equity of 3.69%. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 earnings per share. Equities research analysts anticipate that Sun Communities Inc will post $1.08 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Wednesday, June 28th. Sun Communities’s payout ratio is presently 638.11%.

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A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Sun Communities from a “sell” rating to a “hold” rating in a research report on Tuesday, March 14th. BidaskClub raised shares of Sun Communities from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Royal Bank Of Canada assumed coverage on shares of Sun Communities in a research report on Thursday, June 1st. They issued an “outperform” rating and a $92.00 price objective for the company. Finally, TheStreet lowered shares of Sun Communities from a “b-” rating to a “c+” rating in a research report on Friday, March 10th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Sun Communities currently has a consensus rating of “Buy” and a consensus price target of $90.17.

Sun Communities Company Profile

Sun Communities, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is a fully integrated real estate company, which, together with its affiliates and predecessors, has been in the business of acquiring, operating, developing, and expanding manufactured housing (MH) and recreational vehicle (RV).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SUI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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