Alps Advisors Inc. purchased a new stake in Sun Communities Inc (NYSE:SUI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,311 shares of the real estate investment trust’s stock, valued at approximately $226,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Quantbot Technologies LP boosted its stake in shares of Sun Communities by 1,221.4% in the 1st quarter. Quantbot Technologies LP now owns 1,480 shares of the real estate investment trust’s stock valued at $135,000 after purchasing an additional 1,368 shares in the last quarter. Ostrum Asset Management acquired a new stake in shares of Sun Communities in the 1st quarter valued at approximately $147,000. First Mercantile Trust Co. acquired a new stake in shares of Sun Communities in the 1st quarter valued at approximately $150,000. IFP Advisors Inc boosted its stake in shares of Sun Communities by 177.1% in the 1st quarter. IFP Advisors Inc now owns 1,970 shares of the real estate investment trust’s stock valued at $180,000 after purchasing an additional 1,259 shares in the last quarter. Finally, Hartford Investment Management Co. acquired a new stake in shares of Sun Communities in the 2nd quarter valued at approximately $210,000. Institutional investors own 93.00% of the company’s stock.
A number of research firms have recently weighed in on SUI. Zacks Investment Research downgraded shares of Sun Communities from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. BMO Capital Markets raised their price target on shares of Sun Communities from $97.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, June 21st. Citigroup lifted their target price on shares of Sun Communities from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. Robert W. Baird lifted their target price on shares of Sun Communities from $102.00 to $106.00 and gave the stock an “outperform” rating in a research report on Monday, September 17th. Finally, ValuEngine upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $103.86.
In other news, COO John Bandini Mclaren sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $96.16, for a total value of $625,040.00. Following the transaction, the chief operating officer now owns 162,294 shares in the company, valued at approximately $15,606,191.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Clunet R. Lewis sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $99.95, for a total transaction of $119,940.00. Following the completion of the transaction, the director now owns 19,400 shares in the company, valued at approximately $1,939,030. The disclosure for this sale can be found here. 3.69% of the stock is currently owned by insiders.
NYSE:SUI traded up $0.21 during mid-day trading on Friday, hitting $99.77. 961,273 shares of the company’s stock were exchanged, compared to its average volume of 413,197. Sun Communities Inc has a fifty-two week low of $80.12 and a fifty-two week high of $103.74. The company has a market cap of $8.25 billion, a PE ratio of 23.93, a P/E/G ratio of 3.37 and a beta of 0.07.
Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, July 25th. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.03). Sun Communities had a return on equity of 3.44% and a net margin of 8.91%. The business had revenue of $271.43 million for the quarter, compared to analyst estimates of $235.02 million. During the same quarter in the prior year, the business earned $0.96 earnings per share. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities analysts predict that Sun Communities Inc will post 4.6 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a $0.71 dividend. The ex-dividend date is Thursday, September 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.85%. Sun Communities’s dividend payout ratio (DPR) is currently 68.11%.
Sun Communities Profile
Sun Communities, Inc is a REIT that, as of June 30, 2018, owned, operated, or had an interest in a portfolio of 367 communities comprising approximately 126,000 developed sites in 31 states and Ontario, Canada. For more information about Sun Communities, Inc, please visit www.suncommunities.com.
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