SG Americas Securities LLC raised its position in Sun Communities, Inc. (NYSE:SUI) by 55.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 7,479 shares of the real estate investment trust’s stock after purchasing an additional 2,657 shares during the period. SG Americas Securities LLC’s holdings in Sun Communities were worth $641,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of SUI. Whitnell & Co. purchased a new position in Sun Communities during the third quarter worth about $139,000. Nationwide Fund Advisors raised its holdings in shares of Sun Communities by 18.4% in the 2nd quarter. Nationwide Fund Advisors now owns 13,635 shares of the real estate investment trust’s stock worth $1,196,000 after purchasing an additional 2,122 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Sun Communities by 17.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 621,487 shares of the real estate investment trust’s stock worth $54,499,000 after purchasing an additional 92,444 shares during the period. BlackRock Inc. raised its holdings in shares of Sun Communities by 9.7% in the 2nd quarter. BlackRock Inc. now owns 5,132,844 shares of the real estate investment trust’s stock worth $450,100,000 after purchasing an additional 454,187 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Sun Communities by 70.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 589,768 shares of the real estate investment trust’s stock worth $51,717,000 after purchasing an additional 244,273 shares during the period. 93.62% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Sun Communities from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. BMO Capital Markets reiterated a “buy” rating and issued a $96.00 target price on shares of Sun Communities in a research report on Monday, October 23rd. ValuEngine lowered Sun Communities from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. Evercore ISI upgraded Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 target price for the company in a research report on Monday, December 4th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $100.00 target price on shares of Sun Communities in a research report on Monday, December 11th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $93.00.
Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.79. The business had revenue of $268.20 million for the quarter, compared to the consensus estimate of $239.45 million. Sun Communities had a return on equity of 2.76% and a net margin of 7.37%. During the same quarter in the previous year, the company posted $1.13 earnings per share. sell-side analysts forecast that Sun Communities, Inc. will post 4.16 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.68 dividend on an annualized basis and a yield of 2.83%. Sun Communities’s payout ratio is 362.16%.
In related news, Director Clunet R. Lewis sold 5,292 shares of the business’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $86.20, for a total transaction of $456,170.40. Following the transaction, the director now directly owns 18,800 shares in the company, valued at $1,620,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan Colman sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $93.21, for a total value of $186,420.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,584 shares of company stock valued at $1,010,694. Insiders own 4.15% of the company’s stock.
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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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