Driehaus Capital Management LLC acquired a new position in Sun Communities Inc (NYSE:SUI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,400 shares of the real estate investment trust’s stock, valued at approximately $1,058,000.
A number of other hedge funds have also bought and sold shares of the business. Renaissance Technologies LLC boosted its position in Sun Communities by 52.1% in the fourth quarter. Renaissance Technologies LLC now owns 857,200 shares of the real estate investment trust’s stock worth $79,531,000 after purchasing an additional 293,600 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Sun Communities in the fourth quarter valued at $5,463,000. Alliancebernstein L.P. raised its stake in shares of Sun Communities by 3.5% in the fourth quarter. Alliancebernstein L.P. now owns 505,986 shares of the real estate investment trust’s stock valued at $46,945,000 after buying an additional 16,896 shares during the period. Kennedy Capital Management Inc. raised its stake in shares of Sun Communities by 3.5% in the fourth quarter. Kennedy Capital Management Inc. now owns 177,840 shares of the real estate investment trust’s stock valued at $16,500,000 after buying an additional 6,000 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Sun Communities by 6.0% in the fourth quarter. Geode Capital Management LLC now owns 802,719 shares of the real estate investment trust’s stock valued at $74,476,000 after buying an additional 45,654 shares during the period. 94.78% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on SUI. Robert W. Baird restated a “buy” rating and issued a $100.00 target price on shares of Sun Communities in a research note on Monday, December 11th. ValuEngine lowered Sun Communities from a “buy” rating to a “hold” rating in a research note 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 on the stock in a research note on Monday, December 4th. Zacks Investment Research lowered Sun Communities from a “buy” rating to a “hold” rating in a research note on Thursday, December 28th. Finally, BMO Capital Markets set a $97.00 target price on Sun Communities and gave the company a “buy” rating in a research note on Wednesday, February 21st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Sun Communities currently has a consensus rating of “Buy” and a consensus target price of $95.00.
Sun Communities (NYSE:SUI) last released its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.98. Sun Communities had a return on equity of 2.98% and a net margin of 8.01%. The company had revenue of $242.00 million for the quarter, compared to analyst estimates of $207.51 million. During the same period in the previous year, the company posted $0.91 EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. equities analysts expect that Sun Communities Inc will post 4.54 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.21%. This is a positive change from Sun Communities’s previous quarterly dividend of $0.67. The ex-dividend date is Wednesday, March 28th. Sun Communities’s payout ratio is presently 315.29%.
In related news, Director Clunet R. Lewis sold 2,200 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $87.84, for a total transaction of $193,248.00. Following the sale, the director now directly owns 19,400 shares in the company, valued at approximately $1,704,096. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.15% of the company’s stock.
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About Sun Communities
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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