Cambridge Investment Research Advisors Inc. Sells 204 Shares of Sun Communities, Inc. (SUI)

Cambridge Investment Research Advisors Inc. lowered its stake in Sun Communities, Inc. (NYSE:SUI) by 3.1% during the first quarter, Holdings Channel reports. The institutional investor owned 6,428 shares of the real estate investment trust’s stock after selling 204 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Sun Communities were worth $516,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Sun Communities during the fourth quarter valued at about $41,895,000. Vanguard Group Inc. boosted its stake in Sun Communities by 3.1% in the first quarter. Vanguard Group Inc. now owns 10,521,072 shares of the real estate investment trust’s stock valued at $845,157,000 after buying an additional 316,089 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in Sun Communities by 107.0% in the first quarter. Westfield Capital Management Co. LP now owns 277,469 shares of the real estate investment trust’s stock valued at $22,289,000 after buying an additional 143,448 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Sun Communities by 37.2% in the first quarter. Victory Capital Management Inc. now owns 462,181 shares of the real estate investment trust’s stock valued at $37,128,000 after buying an additional 125,250 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Sun Communities by 29.8% in the first quarter. Alliancebernstein L.P. now owns 490,594 shares of the real estate investment trust’s stock valued at $39,409,000 after buying an additional 112,619 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

Sun Communities, Inc. (NYSE:SUI) traded down 0.25% during midday trading on Tuesday, hitting $90.82. 158,862 shares of the company traded hands. The stock has a 50 day moving average price of $86.32 and a 200-day moving average price of $81.06. The company has a market cap of $6.70 billion, a PE ratio of 207.83 and a beta of 0.32. Sun Communities, Inc. has a 12-month low of $69.90 and a 12-month high of $91.37.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.03. The business had revenue of $234.40 million during the quarter, compared to analysts’ expectations of $194.89 million. Sun Communities had a return on equity of 1.80% and a net margin of 4.65%. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 EPS. Analysts expect that Sun Communities, Inc. will post $1.08 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $2.68 annualized dividend and a dividend yield of 2.94%. Sun Communities’s payout ratio is 638.11%.

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Several equities research analysts have issued reports on SUI shares. TheStreet cut shares of Sun Communities from a “b-” rating to a “c+” rating in a research note on Friday, March 10th. Zacks Investment Research raised shares of Sun Communities from a “sell” rating to a “hold” rating in a research note on Tuesday, March 21st. Evercore ISI cut shares of Sun Communities from a “buy” rating to a “hold” rating and raised their price target for the stock from $81.00 to $86.00 in a research note on Tuesday, February 28th. Bank of America Corporation raised shares of Sun Communities from an “underperform” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Monday, May 22nd. Finally, Citigroup Inc. cut shares of Sun Communities from a “buy” rating to a “neutral” rating and set a $86.00 price target on the stock. in a research note on Monday, February 27th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $90.00.

Sun Communities Company Profile

Sun Communities, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is a fully integrated real estate company, which, together with its affiliates and predecessors, has been in the business of acquiring, operating, developing, and expanding manufactured housing (MH) and recreational vehicle (RV).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SUI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding SUI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Communities, Inc. (NYSE:SUI).

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