Alliancebernstein L.P. grew its stake in shares of Sun Communities Inc (NYSE:SUI) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 505,986 shares of the real estate investment trust’s stock after buying an additional 16,896 shares during the period. Alliancebernstein L.P. owned 0.64% of Sun Communities worth $46,945,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Cohen & Steers Inc. increased its position in Sun Communities by 0.4% during the third quarter. Cohen & Steers Inc. now owns 9,567,842 shares of the real estate investment trust’s stock worth $819,773,000 after buying an additional 41,383 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Sun Communities by 0.6% during the fourth quarter. BlackRock Inc. now owns 5,646,104 shares of the real estate investment trust’s stock worth $523,847,000 after purchasing an additional 34,356 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Sun Communities by 1.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,694,415 shares of the real estate investment trust’s stock worth $342,768,000 after purchasing an additional 61,270 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Sun Communities by 25.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,197,655 shares of the real estate investment trust’s stock worth $203,897,000 after purchasing an additional 452,380 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Sun Communities by 2.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,019,268 shares of the real estate investment trust’s stock worth $87,330,000 after purchasing an additional 25,291 shares during the last quarter. 94.78% of the stock is owned by institutional investors.
In related news, Director Clunet R. Lewis sold 2,200 shares of Sun Communities stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $87.84, for a total value of $193,248.00. Following the transaction, the director now owns 19,400 shares in the company, valued at $1,704,096. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.15% of the stock is currently owned by company insiders.
Sun Communities Inc (NYSE SUI) opened at $88.57 on Wednesday. Sun Communities Inc has a fifty-two week low of $78.78 and a fifty-two week high of $96.08. The firm has a market capitalization of $7,070.00, a price-to-earnings ratio of 104.20, a P/E/G ratio of 3.11 and a beta of 0.18.
Sun Communities (NYSE:SUI) last issued its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.98 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.98. Sun Communities had a return on equity of 2.98% and a net margin of 8.01%. The firm had revenue of $242.00 million for the quarter, compared to analysts’ expectations of $207.51 million. During the same quarter last year, the firm earned $0.91 earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. research analysts expect that Sun Communities Inc will post 4.54 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.84 dividend on an annualized basis and a yield of 3.21%. This is a boost from Sun Communities’s previous quarterly dividend of $0.67. Sun Communities’s dividend payout ratio (DPR) is presently 315.29%.
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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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