Sun Communities Target of Unusually High Options Trading (NYSE:SUI)

Sun Communities Inc (NYSE:SUI) was the target of some unusual options trading activity on Thursday. Traders purchased 2,000 put options on the stock. This is an increase of 3,471% compared to the average volume of 56 put options.

Sun Communities stock opened at $135.55 on Friday. Sun Communities has a 12-month low of $95.34 and a 12-month high of $173.98. The stock has a market cap of $13.59 billion, a P/E ratio of 110.20, a PEG ratio of 3.70 and a beta of 0.52. The company has a 50-day moving average price of $139.33 and a 200 day moving average price of $142.45. The company has a current ratio of 5.76, a quick ratio of 5.76 and a debt-to-equity ratio of 1.01.

Sun Communities (NYSE:SUI) last released its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.37). The firm had revenue of $310.30 million for the quarter, compared to analyst estimates of $294.10 million. Sun Communities had a return on equity of 3.67% and a net margin of 8.89%. Sun Communities’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 earnings per share. As a group, analysts forecast that Sun Communities will post 4.99 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, June 29th. Sun Communities’s payout ratio is 64.23%.

In other Sun Communities news, Director Clunet R. Lewis sold 4,000 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $143.50, for a total transaction of $574,000.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $2,870,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.72% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SUI. Sunbelt Securities Inc. acquired a new stake in Sun Communities in the fourth quarter valued at about $2,814,000. Gradient Investments LLC acquired a new stake in Sun Communities in the second quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. lifted its position in Sun Communities by 177.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 275 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 176 shares during the period. Meeder Asset Management Inc. acquired a new stake in Sun Communities in the first quarter valued at about $37,000. Finally, Wealthcare Advisory Partners LLC acquired a new stake in Sun Communities in the first quarter valued at about $39,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently commented on SUI shares. Zacks Investment Research upgraded shares of Sun Communities from a “hold” rating to a “buy” rating and set a $151.00 target price for the company in a research report on Wednesday, July 1st. Wells Fargo & Co reduced their target price on shares of Sun Communities from $158.00 to $139.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Citigroup increased their target price on shares of Sun Communities from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Finally, Evercore ISI upgraded shares of Sun Communities from an “in-line” rating to an “outperform” rating in a research report on Monday, March 30th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $151.25.

Sun Communities Company Profile

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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