California Public Employees Retirement System raised its position in Sun Communities Inc (NYSE:SUI) by 0.6% during the fourth quarter, HoldingsChannel reports. The firm owned 141,097 shares of the real estate investment trust’s stock after buying an additional 778 shares during the quarter. California Public Employees Retirement System’s holdings in Sun Communities were worth $13,091,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whitnell & Co. purchased a new position in Sun Communities in the third quarter valued at about $139,000. Shelton Capital Management purchased a new position in Sun Communities in the fourth quarter valued at about $204,000. M&T Bank Corp purchased a new position in Sun Communities in the fourth quarter valued at about $209,000. Moody Aldrich Partners LLC purchased a new position in Sun Communities in the fourth quarter valued at about $212,000. Finally, The Manufacturers Life Insurance Company grew its stake in Sun Communities by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,299 shares of the real estate investment trust’s stock valued at $202,000 after purchasing an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 93.98% of the company’s stock.
In related news, Director Clunet R. Lewis sold 2,200 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $87.84, for a total transaction of $193,248.00. Following the completion of the transaction, the director now owns 19,400 shares of the company’s stock, valued at approximately $1,704,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.15% of the stock is currently owned by insiders.
Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.98. The company had revenue of $242.00 million during the quarter, compared to the consensus estimate of $207.51 million. Sun Communities had a return on equity of 1.13% and a net margin of 4.27%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 EPS. equities analysts expect that Sun Communities Inc will post 4.52 earnings per share for the current year.
A number of research analysts have commented on the company. Robert W. Baird restated a “buy” rating and issued a $100.00 target price on shares of Sun Communities in a research note on Monday, December 11th. ValuEngine downgraded Sun Communities from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Evercore ISI upgraded Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 price target for the company in a research note on Monday, December 4th. Zacks Investment Research downgraded Sun Communities from a “buy” rating to a “hold” rating in a research note on Thursday, December 28th. Finally, BMO Capital Markets set a $97.00 price target on Sun Communities and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $93.71.
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).
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