SG Americas Securities LLC boosted its holdings in shares of Sun Communities Inc (NYSE:SUI) by 123.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,087 shares of the real estate investment trust’s stock after purchasing an additional 23,224 shares during the period. SG Americas Securities LLC’s holdings in Sun Communities were worth $6,248,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC lifted its stake in Sun Communities by 45.0% during the third quarter. CWM LLC now owns 245 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 76 shares during the last quarter. Cornerstone Advisors Inc. increased its holdings in shares of Sun Communities by 28.3% during the third quarter. Cornerstone Advisors Inc. now owns 317 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 70 shares in the last quarter. Price Capital Management Inc. acquired a new position in shares of Sun Communities during the third quarter worth $59,000. Squar Milner Financial Services LLC increased its holdings in shares of Sun Communities by 59.1% during the third quarter. Squar Milner Financial Services LLC now owns 479 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 178 shares in the last quarter. Finally, Whittier Trust Co. acquired a new position in shares of Sun Communities during the second quarter worth $82,000. Hedge funds and other institutional investors own 93.94% of the company’s stock.
Several research analysts have recently issued reports on SUI shares. Zacks Investment Research downgraded shares of Sun Communities from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. ValuEngine downgraded shares of Sun Communities from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Co upped their price target on shares of Sun Communities from $118.00 to $137.00 and gave the stock a “market perform” rating in a report on Wednesday, September 18th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $136.25.
Shares of NYSE:SUI traded down $0.92 during trading on Friday, hitting $153.80. 464,617 shares of the company were exchanged, compared to its average volume of 491,139. The business’s 50 day moving average is $154.00 and its 200-day moving average is $138.51. The company has a market capitalization of $14.08 billion, a P/E ratio of 33.58, a price-to-earnings-growth ratio of 5.37 and a beta of 0.21. Sun Communities Inc has a 1-year low of $96.95 and a 1-year high of $163.71.
Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.05). The company had revenue of $362.44 million during the quarter, compared to analyst estimates of $321.14 million. Sun Communities had a net margin of 11.62% and a return on equity of 4.25%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.35 earnings per share. On average, equities research analysts expect that Sun Communities Inc will post 4.89 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.75 dividend. The ex-dividend date was Friday, September 27th. This represents a $3.00 dividend on an annualized basis and a yield of 1.95%. Sun Communities’s payout ratio is 65.50%.
About Sun Communities
Sun Communities, Inc is a REIT that, as of March 31, 2019, owned, operated, or had an interest in a portfolio of 379 communities comprising over 132,000 developed sites in 31 states and Ontario, Canada.
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