GSA Capital Partners LLP bought a new position in shares of Sun Communities Inc (NYSE:SUI) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,631 shares of the real estate investment trust’s stock, valued at approximately $240,000.
A number of other institutional investors have also bought and sold shares of SUI. Wells Fargo & Company MN boosted its holdings in shares of Sun Communities by 13.4% in the 4th quarter. Wells Fargo & Company MN now owns 231,924 shares of the real estate investment trust’s stock worth $21,518,000 after purchasing an additional 27,403 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Sun Communities by 2.1% in the 4th quarter. Rhumbline Advisers now owns 90,999 shares of the real estate investment trust’s stock worth $8,443,000 after purchasing an additional 1,894 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of Sun Communities by 3.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 293,171 shares of the real estate investment trust’s stock worth $27,200,000 after purchasing an additional 10,793 shares in the last quarter. American International Group Inc. purchased a new position in shares of Sun Communities in the 4th quarter worth about $149,000. Finally, Amalgamated Bank boosted its holdings in shares of Sun Communities by 6.2% in the 4th quarter. Amalgamated Bank now owns 14,717 shares of the real estate investment trust’s stock worth $1,365,000 after purchasing an additional 860 shares in the last quarter. Institutional investors and hedge funds own 93.37% of the company’s stock.
Sun Communities opened at $97.88 on Friday, according to Marketbeat.com. Sun Communities Inc has a 1-year low of $80.12 and a 1-year high of $98.99. The stock has a market capitalization of $7.79 billion, a PE ratio of 23.47, a P/E/G ratio of 3.40 and a beta of 0.12.
Sun Communities (NYSE:SUI) last released its earnings results on Monday, April 23rd. The real estate investment trust reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.76). Sun Communities had a net margin of 8.49% and a return on equity of 3.16%. The company had revenue of $259.90 million during the quarter, compared to the consensus estimate of $242.51 million. During the same period last year, the firm posted $1.10 EPS. The company’s revenue was up 10.9% on a year-over-year basis. analysts expect that Sun Communities Inc will post 4.54 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Thursday, June 28th. Sun Communities’s dividend payout ratio (DPR) is presently 68.11%.
A number of equities analysts have recently issued reports on the company. ValuEngine cut Sun Communities from a “buy” rating to a “hold” rating in a report on Wednesday, June 6th. Robert W. Baird set a $97.00 price objective on Sun Communities and gave the stock a “buy” rating in a report on Tuesday, April 24th. BMO Capital Markets upped their price objective on Sun Communities from $97.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, June 21st. Wells Fargo & Co upped their price objective on Sun Communities from $94.00 to $99.00 and gave the stock an “outperform” rating in a report on Tuesday, May 29th. Finally, Zacks Investment Research upgraded Sun Communities from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a report on Tuesday, March 20th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Sun Communities presently has an average rating of “Buy” and an average target price of $97.00.
Sun Communities Company Profile
Sun Communities, Inc is a REIT that, as of March 31, 2018, owned, operated, or had an interest in a portfolio of 350 communities comprising approximately 122,000 developed sites in 29 states and Ontario, Canada. For more information about Sun Communities, Inc, please visit www.suncommunities.com.
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