GW&K Investment Management LLC lifted its holdings in Sun Communities Inc (NYSE:SUI) by 13.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 304,095 shares of the real estate investment trust’s stock after purchasing an additional 35,841 shares during the period. GW&K Investment Management LLC owned 0.34% of Sun Communities worth $45,143,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. CWM LLC lifted its stake in shares of Sun Communities by 45.0% in the 3rd quarter. CWM LLC now owns 245 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 76 shares during the last quarter. Cornerstone Advisors Inc. lifted its position in 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 during the last quarter. Price Capital Management Inc. acquired a new position in Sun Communities during the 3rd quarter worth $59,000. Squar Milner Financial Services LLC lifted its position in 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 during the last quarter. Finally, Whittier Trust Co. acquired a new position in Sun Communities during the 2nd quarter worth $82,000. 93.94% of the stock is owned by institutional investors and hedge funds.
SUI has been the subject of a number of research analyst reports. ValuEngine lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Co boosted their target price 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. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $136.25.
In related news, CFO Karen Dearing sold 11,204 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $148.50, for a total value of $1,663,794.00. Following the sale, the chief financial officer now owns 110,126 shares of the company’s stock, valued at $16,353,711. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Arthur A. Weiss sold 257 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were 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 directly owns 29,156 shares in the company, valued at approximately $4,302,550.92. The disclosure for this sale can be found here. In the last three months, insiders sold 18,871 shares of company stock worth $2,789,063. 3.34% of the stock is currently owned by insiders.
Sun Communities stock traded down $0.92 on Friday, reaching $153.80. 464,617 shares of the stock were exchanged, compared to its average volume of 491,139. The stock has a market cap of $14.08 billion, a PE ratio of 33.58, a PEG ratio of 5.37 and a beta of 0.21. Sun Communities Inc has a twelve month low of $96.95 and a twelve month high of $163.71. The firm has a fifty day moving average price of $154.00 and a two-hundred day moving average price of $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 (EPS) for the quarter, missing the 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 company had revenue of $362.44 million for the quarter, compared to the consensus estimate of $321.14 million. During the same quarter in the previous year, the firm posted $1.35 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts anticipate that Sun Communities Inc will post 4.89 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors 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 payout ratio is currently 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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