BNP Paribas Arbitrage SA raised its stake in Sun Communities, Inc. (NYSE:SUI) by 388.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 195,946 shares of the real estate investment trust’s stock after buying an additional 155,807 shares during the period. BNP Paribas Arbitrage SA owned about 0.25% of Sun Communities worth $17,183,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its position in Sun Communities by 3,458.3% in the first quarter. BlackRock Inc. now owns 4,678,657 shares of the real estate investment trust’s stock valued at $375,838,000 after buying an additional 4,547,170 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Sun Communities by 303.3% in the second quarter. Bank of New York Mellon Corp now owns 1,532,663 shares of the real estate investment trust’s stock valued at $134,399,000 after buying an additional 1,152,596 shares in the last quarter. Vanguard Group Inc. boosted its position in Sun Communities by 3.1% in the first quarter. Vanguard Group Inc. now owns 10,521,072 shares of the real estate investment trust’s stock valued at $845,157,000 after buying an additional 316,089 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in Sun Communities by 107.0% in the first quarter. Westfield Capital Management Co. LP now owns 277,469 shares of the real estate investment trust’s stock valued at $22,289,000 after buying an additional 143,448 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its position in Sun Communities by 23.0% in the second quarter. Duff & Phelps Investment Management Co. now owns 755,555 shares of the real estate investment trust’s stock valued at $66,255,000 after buying an additional 141,500 shares in the last quarter. 89.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sun Communities, Inc. (NYSE:SUI) opened at 88.78 on Friday. The firm has a 50 day moving average price of $88.16 and a 200 day moving average price of $84.71. Sun Communities, Inc. has a 52 week low of $69.90 and a 52 week high of $91.37. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 127.01 and a beta of 0.28.
Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The company had revenue of $237.90 million for the quarter, compared to analysts’ expectations of $210.58 million. Sun Communities had a net margin of 6.82% and a return on equity of 2.59%. Sun Communities’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 earnings per share. Equities analysts forecast that Sun Communities, Inc. will post $0.99 EPS for the current year.
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SUI has been the topic of several research analyst reports. BidaskClub cut Sun Communities from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Zacks Investment Research raised Sun Communities from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research report on Friday, June 23rd. Royal Bank Of Canada reissued a “buy” rating and issued a $92.00 price objective on shares of Sun Communities in a research report on Sunday, July 16th. Finally, Bank of America Corporation raised Sun Communities from an “underperform” rating to a “buy” rating and set a $93.00 price objective on the stock in a research report on Monday, May 22nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $90.17.
In related news, COO John Bandini Mclaren sold 5,400 shares of Sun Communities stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $88.43, for a total transaction of $477,522.00. Following the transaction, the chief operating officer now directly owns 153,159 shares in the company, valued at $13,543,850.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.15% of the stock is currently owned by insiders.
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).
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