Teachers Insurance & Annuity Association of America Has $5,045,000 Stake in Sun Communities, Inc. (SUI)
Teachers Insurance & Annuity Association of America raised its stake in Sun Communities, Inc. (NYSE:SUI) by 6.0% during the third quarter, Holdings Channel reports. The firm owned 64,283 shares of the real estate investment trust’s stock after buying an additional 3,655 shares during the period. Teachers Insurance & Annuity Association of America owned 0.09% of Sun Communities worth $5,045,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Mizuho Asset Management Co. Ltd. raised its position in Sun Communities by 38.2% in the third quarter. Mizuho Asset Management Co. Ltd. now owns 30,400 shares of the real estate investment trust’s stock worth $2,386,000 after buying an additional 8,400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sun Communities by 7.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,378 shares of the real estate investment trust’s stock worth $265,000 after buying an additional 225 shares during the last quarter. AMP Capital Investors Ltd raised its position in Sun Communities by 12.9% in the third quarter. AMP Capital Investors Ltd now owns 1,119,034 shares of the real estate investment trust’s stock worth $88,884,000 after buying an additional 127,500 shares during the last quarter. Harrison Street Securities LLC purchased a new position in Sun Communities during the third quarter worth about $533,000. Finally, KCG Holdings Inc. purchased a new position in Sun Communities during the third quarter worth about $726,000. Institutional investors own 98.24% of the company’s stock.
Sun Communities, Inc. (NYSE:SUI) traded down 0.36% during mid-day trading on Friday, reaching $77.51. 28,883 shares of the company’s stock traded hands. Sun Communities, Inc. has a 1-year low of $62.58 and a 1-year high of $85.98. The firm has a 50 day moving average of $74.70 and a 200 day moving average of $76.21. The firm has a market cap of $5.66 billion, a PE ratio of 45.06 and a beta of 0.42.
Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Tuesday, November 1st. The real estate investment trust reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. The business had revenue of $249.70 million for the quarter, compared to analyst estimates of $146.83 million. Sun Communities had a net margin of 16.21% and a return on equity of 6.38%. The firm’s revenue for the quarter was up 34.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Analysts forecast that Sun Communities, Inc. will post $0.50 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 20th. Stockholders of record on Saturday, December 31st will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Wednesday, December 28th. Sun Communities’s dividend payout ratio is presently 140.54%.
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A number of research analysts recently issued reports on the stock. BMO Capital Markets reiterated a “buy” rating on shares of Sun Communities in a research note on Thursday. Zacks Investment Research lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Evercore ISI began coverage on shares of Sun Communities in a research report on Friday, October 14th. They issued a “buy” rating and a $85.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $82.00.
In other news, EVP Jonathan Colman sold 3,000 shares of the business’s stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $75.00, for a total value of $225,000.00. Following the sale, the executive vice president now owns 37,206 shares of the company’s stock, valued at $2,790,450. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Stephanie W. Bergeron sold 4,850 shares of the business’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $70.63, for a total transaction of $342,555.50. Following the completion of the sale, the director now directly owns 16,000 shares in the company, valued at approximately $1,130,080. The disclosure for this sale can be found here. 5.14% of the stock is currently owned by insiders.
About Sun Communities
Sun Communities, Inc (SHS) is a self-administered and self-managed real estate investment trust (REIT). The Company operates in two segments: Real Property Operations, and Home Sales and Rentals. The Real Property Operations segment owns, operates and develops manufactured housing (MH) and recreational vehicle (RV) throughout the United States and is in the business of acquiring, operating and expanding MH and RV communities.
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