Boston Private Wealth LLC trimmed its position in shares of Sun Communities Inc (NYSE:SUI) by 6.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,935 shares of the real estate investment trust’s stock after selling 733 shares during the quarter. Boston Private Wealth LLC’s holdings in Sun Communities were worth $1,475,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CWM LLC boosted its stake in shares of Sun Communities by 45.0% during the 3rd quarter. CWM LLC now owns 245 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 76 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in shares of Sun Communities by 28.3% during the 3rd quarter. Cornerstone Advisors Inc. now owns 317 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 70 shares in the last quarter. Price Capital Management Inc. bought a new stake in shares of Sun Communities during the 3rd quarter worth $59,000. Squar Milner Financial Services LLC boosted its stake in shares of Sun Communities by 59.1% during the 3rd quarter. Squar Milner Financial Services LLC now owns 479 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 178 shares in the last quarter. Finally, Whittier Trust Co. bought a new stake in shares of Sun Communities during the 2nd quarter worth $82,000. Institutional investors own 93.94% of the company’s stock.
Several equities research analysts have recently weighed in on SUI shares. Wells Fargo & Co raised their price objective on Sun Communities from $118.00 to $137.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 18th. ValuEngine lowered Sun Communities from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research lowered Sun Communities from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $136.25.
In related news, Director Arthur A. Weiss sold 257 shares of Sun Communities stock in a transaction on Monday, August 26th. The stock was sold at an average price of $147.57, for a total transaction of $37,925.49. Following the completion of the sale, the director now owns 29,156 shares of the company’s stock, valued at $4,302,550.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO John Bandini Mclaren sold 7,410 shares of Sun Communities stock in a transaction on Monday, August 26th. The shares were sold at an average price of $146.74, for a total value of $1,087,343.40. Following the sale, the chief operating officer now directly owns 120,483 shares of the company’s stock, valued at approximately $17,679,675.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,871 shares of company stock valued at $2,789,063. 3.34% of the stock is currently owned by insiders.
Shares of Sun Communities stock traded down $0.39 during midday trading on Friday, hitting $154.33. The company’s stock had a trading volume of 9,987 shares, compared to its average volume of 501,646. The firm has a market capitalization of $14.08 billion, a P/E ratio of 33.69, a PEG ratio of 5.37 and a beta of 0.21. The stock has a 50-day simple moving average of $153.88 and a 200-day simple moving average of $138.34. Sun Communities Inc has a 1-year low of $96.95 and a 1-year high of $163.71.
Sun Communities (NYSE:SUI) last issued its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.05). The business had revenue of $362.44 million during the quarter, compared to analyst estimates of $321.14 million. Sun Communities had a return on equity of 4.25% and a net margin of 11.62%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business earned $1.35 EPS. On average, analysts forecast that Sun Communities Inc will post 4.89 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.00 annualized dividend and a dividend yield of 1.94%. Sun Communities’s dividend payout ratio (DPR) is presently 65.50%.
Sun Communities Profile
Sun Communities, Inc is a REIT that, as of March 31, 2019, owned, operated, or had an interest in a portfolio of 379 communities comprising over 132,000 developed sites in 31 states and Ontario, Canada.
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