Vanguard Group Inc. raised its stake in Sun Communities Inc. (NYSE:SUI) by 5.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,933,185 shares of the real estate investment trust’s stock after buying an additional 475,765 shares during the period. Vanguard Group Inc. owned about 13.01% of Sun Communities worth $684,640,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of SUI. Commonwealth Equity Services Inc increased its stake in Sun Communities by 28.5% in the first quarter. Commonwealth Equity Services Inc now owns 14,438 shares of the real estate investment trust’s stock valued at $1,034,000 after buying an additional 3,206 shares during the last quarter. Virginia Retirement System acquired a new stake in Sun Communities during the first quarter valued at approximately $759,000. Ngam Advisors L.P. acquired a new stake in Sun Communities during the first quarter valued at approximately $858,000. Teachers Advisors Inc. increased its stake in Sun Communities by 8.5% in the first quarter. Teachers Advisors Inc. now owns 500,534 shares of the real estate investment trust’s stock valued at $35,843,000 after buying an additional 39,000 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in Sun Communities by 4,228.5% in the first quarter. Prudential Financial Inc. now owns 525,004 shares of the real estate investment trust’s stock valued at $37,596,000 after buying an additional 512,875 shares during the last quarter. 93.94% of the stock is owned by institutional investors.
Sun Communities Inc. (NYSE:SUI) traded down 0.36% on Thursday, hitting $79.68. 38,672 shares of the stock were exchanged. The company has a 50-day moving average of $77.80 and a 200-day moving average of $73.55. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 39.76 and a beta of 0.60. Sun Communities Inc. has a 12 month low of $61.65 and a 12 month high of $85.98.
Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Sun Communities had a net margin of 19.60% and a return on equity of 8.30%. The company earned $140 million during the quarter, compared to analysts’ expectations of $165.78 million. During the same period last year, the company posted $0.87 EPS. Sun Communities’s revenue was up 15.0% on a year-over-year basis. On average, equities analysts predict that Sun Communities Inc. will post $3.76 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.60 dividend on an annualized basis and a yield of 3.25%. Sun Communities’s dividend payout ratio (DPR) is currently 122.64%.
SUI has been the subject of several recent research reports. Citigroup Inc. boosted their target price on shares of Sun Communities from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, July 7th. Zacks Investment Research raised shares of Sun Communities from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research report on Wednesday, July 27th. TheStreet downgraded shares of Sun Communities from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Finally, BMO Capital Markets raised shares of Sun Communities from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research report on Friday, September 16th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $83.00.
In other Sun Communities news, Director Clunet R. Lewis sold 1,800 shares of Sun Communities stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $78.16, for a total value of $140,688.00. Following the completion of the transaction, the director now directly owns 18,400 shares of the company’s stock, valued at $1,438,144. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.14% of the company’s stock.
About Sun Communities
Sun Communities, Inc (SHS) is a self-administered and self-managed real estate investment trust (REIT). The Company operates in two segments: Real Property Operations, and Home Sales and Rentals. The Real Property Operations segment owns, operates and develops manufactured housing (MH) and recreational vehicle (RV) throughout the United States and is in the business of acquiring, operating and expanding MH and RV communities.
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