Sun Communities, Inc. (NYSE:SUI) Shares Sold by First Hawaiian Bank


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First Hawaiian Bank decreased its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,618 shares of the real estate investment trust’s stock after selling 147 shares during the quarter. First Hawaiian Bank’s holdings in Sun Communities were worth $1,461,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SUI. Daiwa Securities Group Inc. lifted its stake in Sun Communities by 5,528.2% during the third quarter. Daiwa Securities Group Inc. now owns 1,372,942 shares of the real estate investment trust’s stock worth $193,050,000 after purchasing an additional 1,348,548 shares during the last quarter. FMR LLC lifted its stake in Sun Communities by 19.1% during the second quarter. FMR LLC now owns 1,982,432 shares of the real estate investment trust’s stock worth $268,976,000 after purchasing an additional 318,438 shares during the last quarter. Aew Capital Management L P lifted its stake in Sun Communities by 40.9% during the third quarter. Aew Capital Management L P now owns 672,413 shares of the real estate investment trust’s stock worth $94,548,000 after purchasing an additional 195,100 shares during the last quarter. PGGM Investments lifted its stake in Sun Communities by 8.5% during the third quarter. PGGM Investments now owns 1,944,576 shares of the real estate investment trust’s stock worth $273,427,000 after purchasing an additional 153,000 shares during the last quarter. Finally, CI Investments Inc. lifted its stake in Sun Communities by 117.6% in the third quarter. CI Investments Inc. now owns 265,350 shares of the real estate investment trust’s stock valued at $37,311,000 after buying an additional 143,392 shares during the last quarter. Hedge funds and other institutional investors own 93.28% of the company’s stock.

Shares of SUI stock opened at $141.30 on Thursday. The business’s fifty day moving average price is $145.60 and its 200 day moving average price is $144.08. Sun Communities, Inc. has a 1-year low of $95.34 and a 1-year high of $173.98. The firm has a market capitalization of $15.20 billion, a PE ratio of 102.39, a P/E/G ratio of 4.06 and a beta of 0.51. The company has a debt-to-equity ratio of 0.75, a current ratio of 5.39 and a quick ratio of 5.39.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, October 21st. The real estate investment trust reported $0.83 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.43 by ($0.60). Sun Communities had a net margin of 10.37% and a return on equity of 3.93%. During the same period last year, the business posted $0.63 earnings per share. Equities research analysts expect that Sun Communities, Inc. will post 4.98 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.24%. The ex-dividend date is Wednesday, December 30th. Sun Communities’s dividend payout ratio (DPR) is 64.23%.

In other Sun Communities news, Director Clunet R. Lewis sold 900 shares of the company’s stock in a transaction on Thursday, December 17th. The stock was sold at an average price of $149.55, for a total value of $134,595.00. Following the sale, the director now owns 27,900 shares of the company’s stock, valued at $4,172,445. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.72% of the stock is currently owned by corporate insiders.

A number of brokerages have weighed in on SUI. BMO Capital Markets boosted their price objective on Sun Communities from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, October 1st. BidaskClub upgraded Sun Communities from a “strong sell” rating to a “sell” rating in a research note on Wednesday, December 16th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded Sun Communities from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 15th. Berenberg Bank assumed coverage on Sun Communities in a report on Thursday, October 1st. They issued a “buy” rating and a $170.00 target price on the stock. Finally, Zacks Investment Research raised Sun Communities from a “hold” rating to a “buy” rating and set a $156.00 target price on the stock in a report on Thursday, November 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $158.00.

Sun Communities Profile

Sun Communities, Inc is a REIT that, as of September 30, 2020, owned, operated, or had an interest in a portfolio of 432 communities comprising nearly 146,000 developed sites in 32 states and Ontario, Canada.

Further Reading: Gap Up Stocks

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

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