Brasada Capital Management LP grew its holdings in shares of Sun Communities Inc (NYSE:SUI) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,618 shares of the real estate investment trust’s stock after buying an additional 857 shares during the quarter. Sun Communities accounts for approximately 1.4% of Brasada Capital Management LP’s holdings, making the stock its 20th biggest holding. Brasada Capital Management LP’s holdings in Sun Communities were worth $5,139,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in SUI. Nuveen Asset Management LLC raised its position in shares of Sun Communities by 557.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,170,073 shares of the real estate investment trust’s stock valued at $278,181,000 after buying an additional 1,839,980 shares in the last quarter. PGGM Investments raised its position in shares of Sun Communities by 91.1% during the 3rd quarter. PGGM Investments now owns 1,370,483 shares of the real estate investment trust’s stock valued at $203,448,000 after buying an additional 653,483 shares in the last quarter. APG Asset Management US Inc. purchased a new stake in shares of Sun Communities during the 2nd quarter valued at about $78,006,000. Congress Asset Management Co. MA purchased a new stake in shares of Sun Communities during the 3rd quarter valued at about $87,862,000. Finally, Envestnet Asset Management Inc. raised its position in shares of Sun Communities by 453.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 537,335 shares of the real estate investment trust’s stock valued at $79,767,000 after buying an additional 440,164 shares in the last quarter. Hedge funds and other institutional investors own 93.94% of the company’s stock.
Sun Communities stock opened at $153.80 on Friday. Sun Communities Inc has a 1-year low of $96.95 and a 1-year high of $163.71. The firm has a market capitalization of $14.08 billion, a P/E ratio of 33.58, a price-to-earnings-growth ratio of 5.37 and a beta of 0.21. The company’s 50-day moving average is $154.00 and its 200 day moving average is $138.51.
Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.05). Sun Communities had a return on equity of 4.25% and a net margin of 11.62%. The firm had revenue of $362.44 million during the quarter, compared to analysts’ expectations of $321.14 million. During the same period last year, the company earned $1.35 earnings per share. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities analysts predict that Sun Communities Inc will post 4.89 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.75 dividend. The ex-dividend date was Friday, September 27th. This represents a $3.00 dividend on an annualized basis and a yield of 1.95%. Sun Communities’s dividend payout ratio is currently 65.50%.
SUI has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Wells Fargo & Co increased their price objective on shares of Sun Communities from $118.00 to $137.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 18th. Finally, ValuEngine lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Sun Communities has an average rating of “Hold” and an average target price of $136.25.
In other Sun Communities news, COO John Bandini Mclaren sold 7,410 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 120,483 shares in the company, valued at approximately $17,679,675.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Karen Dearing sold 11,204 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $148.50, for a total transaction of $1,663,794.00. Following the completion of the transaction, the chief financial officer now owns 110,126 shares in the company, valued at $16,353,711. The disclosure for this sale can be found here. Insiders sold a total of 18,871 shares of company stock worth $2,789,063 over the last 90 days. Insiders own 3.34% of the company’s stock.
Sun Communities Company 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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