Loomis Sayles & Co. L P Has $14.71 Million Position in Sun Communities Inc (SUI)

Loomis Sayles & Co. L P increased its position in shares of Sun Communities Inc (NYSE:SUI) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 144,837 shares of the real estate investment trust’s stock after acquiring an additional 4,441 shares during the period. Loomis Sayles & Co. L P owned approximately 0.17% of Sun Communities worth $14,706,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui Asset Management Company LTD increased its holdings in Sun Communities by 25.1% during the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,988 shares of the real estate investment trust’s stock worth $404,000 after acquiring an additional 800 shares during the period. Redpoint Investment Management Pty Ltd bought a new stake in Sun Communities during the 3rd quarter worth approximately $873,000. Massachusetts Financial Services Co. MA increased its holdings in Sun Communities by 6.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,779,407 shares of the real estate investment trust’s stock worth $180,682,000 after acquiring an additional 105,679 shares during the period. Strs Ohio increased its holdings in Sun Communities by 4.5% during the 2nd quarter. Strs Ohio now owns 115,753 shares of the real estate investment trust’s stock worth $11,329,000 after acquiring an additional 5,033 shares during the period. Finally, Commonwealth Equity Services LLC increased its holdings in Sun Communities by 14.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 13,915 shares of the real estate investment trust’s stock worth $1,413,000 after acquiring an additional 1,799 shares during the period. 93.31% of the stock is currently owned by institutional investors and hedge funds.

In other Sun Communities news, COO John Bandini Mclaren sold 2,400 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 152,624 shares of the company’s stock, valued at approximately $15,784,374.08. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 directly owns 19,400 shares of the company’s stock, valued at approximately $1,939,030. The disclosure for this sale can be found here. 3.69% of the stock is owned by insiders.

A number of equities analysts have commented on SUI shares. Royal Bank of Canada boosted their price target on shares of Sun Communities to $105.00 and gave the stock an “above average” rating in a research note on Thursday, August 30th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Sun Communities from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a research note on Friday, September 7th. Citigroup boosted their price target on shares of Sun Communities from $100.00 to $105.00 and gave the stock a “hold” rating in a research note on Monday, October 29th. BMO Capital Markets boosted their price target on shares of Sun Communities to $109.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 11th. Finally, Wells Fargo & Co boosted their price target on shares of Sun Communities from $103.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, August 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Sun Communities presently has a consensus rating of “Hold” and an average target price of $107.67.

SUI stock opened at $108.32 on Friday. Sun Communities Inc has a one year low of $80.12 and a one year high of $108.73. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 3.57 and a beta of 0.13.

Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, October 24th. The real estate investment trust reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.07. Sun Communities had a net margin of 10.16% and a return on equity of 3.95%. The business had revenue of $323.54 million during the quarter, compared to analysts’ expectations of $292.22 million. As a group, sell-side analysts expect that Sun Communities Inc will post 4.59 earnings per share for the current year.

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

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Sun Communities Company 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: Compound Interest and Why It Matters When Investing

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

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