First Republic Investment Management Inc. boosted its position in Sun Communities, Inc. (NYSE:SUI – Get Rating) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,337 shares of the real estate investment trust’s stock after purchasing an additional 997 shares during the quarter. First Republic Investment Management Inc.’s holdings in Sun Communities were worth $16,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently bought and sold shares of the company. Natixis Advisors L.P. boosted its stake in Sun Communities by 8.3% during the second quarter. Natixis Advisors L.P. now owns 134,604 shares of the real estate investment trust’s stock valued at $21,450,000 after buying an additional 10,345 shares during the period. Ensign Peak Advisors Inc increased its position in shares of Sun Communities by 2.4% in the second quarter. Ensign Peak Advisors Inc now owns 33,165 shares of the real estate investment trust’s stock worth $5,285,000 after purchasing an additional 775 shares during the last quarter. Toronto Dominion Bank raised its stake in Sun Communities by 4.1% in the second quarter. Toronto Dominion Bank now owns 38,618 shares of the real estate investment trust’s stock valued at $6,153,000 after purchasing an additional 1,538 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Sun Communities by 2.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 26,974 shares of the real estate investment trust’s stock valued at $4,299,000 after purchasing an additional 591 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in Sun Communities by 19.6% in the 2nd quarter. Park Avenue Securities LLC now owns 6,713 shares of the real estate investment trust’s stock worth $1,070,000 after buying an additional 1,100 shares in the last quarter. 93.31% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on SUI shares. Barclays dropped their price objective on shares of Sun Communities from $210.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, October 7th. Truist Financial lifted their price target on Sun Communities from $147.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, November 30th. StockNews.com assumed coverage on Sun Communities in a research report on Wednesday, October 12th. They set a “sell” rating on the stock. Royal Bank of Canada dropped their target price on Sun Communities from $174.00 to $164.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Finally, JMP Securities reduced their price target on shares of Sun Communities from $200.00 to $160.00 and set a “market outperform” rating on the stock in a research report on Monday, October 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $168.86.
Sun Communities Price Performance
Sun Communities (NYSE:SUI – Get Rating) last issued its earnings results on Monday, October 24th. The real estate investment trust reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.05). Sun Communities had a return on equity of 3.34% and a net margin of 8.81%. During the same quarter in the prior year, the firm posted $2.11 earnings per share. Analysts forecast that Sun Communities, Inc. will post 7.3 EPS for the current year.
Sun Communities Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Thursday, December 29th. Sun Communities’s dividend payout ratio (DPR) is 171.71%.
Sun Communities Company Profile
Sun Communities, Inc provides real estate management services. The firm operates through the following segments: Manufactured Home Communities, Recreational Vehicle, and Marina. The Manufactured Home Communities segment owns, operates, and develops manufactured housing communities and is in the business of acquiring, operating, and developing ground up communities to provide housing solutions.
- Get a free copy of the StockNews.com research report on Sun Communities (SUI)
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