Dimensional Fund Advisors LP Purchases 14,144 Shares of Sun Communities Inc (SUI)

Dimensional Fund Advisors LP increased its position in shares of Sun Communities Inc (NYSE:SUI) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,181,972 shares of the real estate investment trust’s stock after acquiring an additional 14,144 shares during the period. Dimensional Fund Advisors LP owned about 1.37% of Sun Communities worth $120,013,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Global Endowment Management LP raised its holdings in shares of Sun Communities by 3.3% during the third quarter. Global Endowment Management LP now owns 15,880 shares of the real estate investment trust’s stock worth $1,612,000 after acquiring an additional 500 shares in the last quarter. United Services Automobile Association raised its holdings in shares of Sun Communities by 4.2% during the second quarter. United Services Automobile Association now owns 12,741 shares of the real estate investment trust’s stock worth $1,247,000 after acquiring an additional 516 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Sun Communities by 3.6% during the second quarter. Canada Pension Plan Investment Board now owns 17,200 shares of the real estate investment trust’s stock worth $1,684,000 after acquiring an additional 600 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Sun Communities by 9.2% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 7,117 shares of the real estate investment trust’s stock worth $723,000 after acquiring an additional 600 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Sun Communities by 0.7% during the third quarter. Rhumbline Advisers now owns 87,765 shares of the real estate investment trust’s stock worth $8,912,000 after acquiring an additional 625 shares in the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.

SUI has been the topic of several recent research reports. Royal Bank of Canada raised their target price on Sun Communities to $105.00 and gave the company an “above average” rating in a report on Thursday, August 30th. They noted that the move was a valuation call. Zacks Investment Research upgraded Sun Communities from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a report on Friday, September 7th. Citigroup raised their target price on Sun Communities from $100.00 to $105.00 and gave the company a “hold” rating in a report on Monday, October 29th. BMO Capital Markets raised their target price on Sun Communities to $109.00 and gave the company an “outperform” rating in a report on Tuesday, September 11th. Finally, Wells Fargo & Co raised their target price on Sun Communities from $103.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, August 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $107.67.

In other news, Director Clunet R. Lewis sold 1,200 shares of the firm’s stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $99.95, for a total value of $119,940.00. Following the sale, the director now directly owns 19,400 shares of the company’s stock, valued at $1,939,030. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO John Bandini Mclaren sold 2,400 shares of the firm’s stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $103.42, for a total value of $248,208.00. Following the completion of the sale, the chief operating officer now directly owns 152,624 shares in the company, valued at $15,784,374.08. The disclosure for this sale can be found here. Company insiders own 3.69% of the company’s stock.

NYSE SUI opened at $108.32 on Friday. Sun Communities Inc has a fifty-two week low of $80.12 and a fifty-two week high of $108.73. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 3.46 and a beta of 0.13.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, October 24th. The real estate investment trust reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.07. Sun Communities had a return on equity of 3.95% and a net margin of 10.16%. The company had revenue of $323.54 million for the quarter, compared to analyst estimates of $292.22 million. On average, equities research analysts anticipate that Sun Communities Inc will post 4.59 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Friday, December 28th. Sun Communities’s dividend payout ratio is currently 68.11%.

TRADEMARK VIOLATION WARNING: This report was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another site, it was stolen and reposted in violation of US and international trademark & copyright law. The legal version of this report can be accessed at https://www.americanbankingnews.com/2018/12/08/dimensional-fund-advisors-lp-purchases-14144-shares-of-sun-communities-inc-sui.html.

Sun Communities Profile

Sun Communities, Inc is a REIT that, as of September 30, 2018, owned, operated, or had an interest in a portfolio of 370 communities comprising over 127,000 developed sites in 31 states and Ontario, Canada.

Further Reading: Stock Selection – What is cash flow?

Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

Receive News & Ratings for Sun Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Communities and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply