Advisor Group Holdings Inc. bought a new position in Sun Communities Inc (NYSE:SUI) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,470 shares of the real estate investment trust’s stock, valued at approximately $2,555,000.
Several other large investors have also recently bought and sold shares of SUI. First Trust Advisors LP lifted its position in shares of Sun Communities by 29.6% in the first quarter. First Trust Advisors LP now owns 52,721 shares of the real estate investment trust’s stock worth $6,248,000 after buying an additional 12,047 shares in the last quarter. Quadrant Capital Group LLC raised its position in Sun Communities by 19.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,435 shares of the real estate investment trust’s stock valued at $207,000 after purchasing an additional 235 shares during the period. CI Investments Inc. raised its position in Sun Communities by 87.4% during the fourth quarter. CI Investments Inc. now owns 58,665 shares of the real estate investment trust’s stock valued at $8,806,000 after purchasing an additional 27,358 shares during the period. Gideon Capital Advisors Inc. purchased a new stake in Sun Communities during the fourth quarter valued at approximately $1,075,000. Finally, Piedmont Investment Advisors Inc. raised its position in Sun Communities by 5.0% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 1,729 shares of the real estate investment trust’s stock valued at $260,000 after purchasing an additional 82 shares during the period. Institutional investors own 91.51% of the company’s stock.
Shares of NYSE:SUI opened at $135.99 on Tuesday. Sun Communities Inc has a 52-week low of $95.34 and a 52-week high of $173.98. The stock has a market cap of $12.54 billion, a P/E ratio of 110.56, a price-to-earnings-growth ratio of 3.64 and a beta of 0.52. The business’s 50 day moving average is $136.96 and its 200 day moving average is $143.16. The company has a quick ratio of 5.76, a current ratio of 5.76 and a debt-to-equity ratio of 1.01.
Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.37). Sun Communities had a return on equity of 3.67% and a net margin of 8.89%. The firm had revenue of $310.30 million during the quarter, compared to the consensus estimate of $294.10 million. During the same period last year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Sun Communities Inc will post 4.99 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $3.16 annualized dividend and a yield of 2.32%. Sun Communities’s dividend payout ratio (DPR) is currently 64.23%.
A number of equities research analysts have issued reports on SUI shares. Zacks Investment Research upgraded Sun Communities from a “sell” rating to a “hold” rating in a research report on Thursday, March 12th. Wells Fargo & Co cut their target price on Sun Communities from $158.00 to $139.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Evercore ISI raised Sun Communities from an “in-line” rating to an “outperform” rating in a research note on Monday, March 30th. Finally, Citigroup upped their target price on Sun Communities from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $155.00.
In related news, Director Clunet R. Lewis sold 4,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $143.50, for a total value of $574,000.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $2,870,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.72% of the stock is owned by corporate insiders.
About Sun Communities
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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