New York State Common Retirement Fund grew its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 159,300 shares of the real estate investment trust’s stock after purchasing an additional 2,500 shares during the period. New York State Common Retirement Fund owned approximately 0.20% of Sun Communities worth $13,649,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE raised its holdings in shares of Sun Communities by 105.2% in the 2nd quarter. US Bancorp DE now owns 1,473 shares of the real estate investment trust’s stock worth $129,000 after acquiring an additional 755 shares during the last quarter. Whitnell & Co. acquired a new stake in shares of Sun Communities in the 3rd quarter worth about $139,000. Public Employees Retirement Association of Colorado raised its holdings in shares of Sun Communities by 6.3% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,255 shares of the real estate investment trust’s stock worth $198,000 after acquiring an additional 133 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Sun Communities by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,299 shares of the real estate investment trust’s stock worth $202,000 after acquiring an additional 178 shares during the last quarter. Finally, Raymond James Trust N.A. acquired a new stake in shares of Sun Communities in the 2nd quarter worth about $224,000. Hedge funds and other institutional investors own 93.62% of the company’s stock.
In other Sun Communities news, Director Clunet R. Lewis sold 1,292 shares of the company’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $86.52, for a total value of $111,783.84. Following the completion of the sale, the director now directly owns 18,800 shares of the company’s stock, valued at approximately $1,626,576. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan Colman sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $93.21, for a total transaction of $186,420.00. The disclosure for this sale can be found here. Insiders sold a total of 11,584 shares of company stock valued at $1,010,694 over the last ninety days. 4.15% of the stock is currently owned by insiders.
A number of research firms recently weighed in on SUI. Robert W. Baird restated a “buy” rating and issued a $100.00 target price on shares of Sun Communities in a report on Monday, December 11th. ValuEngine lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Evercore ISI upgraded shares of Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 target price on the stock in a report on Monday, December 4th. Zacks Investment Research upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, Royal Bank of Canada upped their target price on shares of Sun Communities from $95.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Sun Communities currently has an average rating of “Buy” and a consensus price target of $93.00.
Shares of Sun Communities, Inc. (SUI) opened at $94.77 on Monday. Sun Communities, Inc. has a 52-week low of $73.66 and a 52-week high of $96.08. The stock has a market cap of $7,519.34, a PE ratio of 23.11, a price-to-earnings-growth ratio of 3.62 and a beta of 0.27.
Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.79. Sun Communities had a net margin of 7.37% and a return on equity of 2.76%. The business had revenue of $268.20 million during the quarter, compared to the consensus estimate of $239.45 million. During the same period in the prior year, the firm posted $1.13 EPS. equities analysts predict that Sun Communities, Inc. will post 4.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Thursday, December 28th. Sun Communities’s payout ratio is 362.16%.
About Sun Communities
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).
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