Eii Capital Management Inc. acquired a new stake in Sun Communities, Inc. (NYSE:SUI) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 22,854 shares of the real estate investment trust’s stock, valued at approximately $1,958,000.

A number of other large investors have also added to or reduced their stakes in the stock. QS Investors LLC raised its position in Sun Communities by 0.3% in the second quarter. QS Investors LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $326,000 after purchasing an additional 10 shares during the last quarter. People s United Financial Inc. raised its position in Sun Communities by 0.3% in the second quarter. People s United Financial Inc. now owns 9,253 shares of the real estate investment trust’s stock valued at $812,000 after purchasing an additional 30 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in Sun Communities by 6.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,255 shares of the real estate investment trust’s stock valued at $198,000 after purchasing an additional 133 shares during the last quarter. Comerica Bank raised its position in Sun Communities by 4.7% in the second quarter. Comerica Bank now owns 3,265 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 148 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position 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 during the last quarter. 93.62% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Jonathan Colman sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $85.44, for a total transaction of $256,320.00. Following the completion of the transaction, the executive vice president now directly owns 33,985 shares in the company, valued at $2,903,678.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Clunet R. Lewis sold 1,292 shares of the firm’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $86.52, for a total value of $111,783.84. Following the transaction, the director now owns 18,800 shares of the company’s stock, valued at $1,626,576. The disclosure for this sale can be found here. Insiders have sold 11,584 shares of company stock valued at $1,010,694 over the last 90 days. 4.15% of the stock is owned by corporate insiders.

Shares of Sun Communities, Inc. (NYSE:SUI) traded down $0.02 on Wednesday, hitting $95.45. The stock had a trading volume of 278,800 shares, compared to its average volume of 355,703. Sun Communities, Inc. has a 52 week low of $72.51 and a 52 week high of $95.83. The company has a market capitalization of $7,574.83, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 3.65 and a beta of 0.27.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.79. Sun Communities had a return on equity of 2.76% and a net margin of 7.37%. The company had revenue of $268.20 million during the quarter, compared to the consensus estimate of $239.45 million. During the same period last year, the company earned $1.13 earnings per share. sell-side analysts anticipate that Sun Communities, Inc. will post 4.16 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.81%. Sun Communities’s dividend payout ratio (DPR) is 362.16%.

Several equities analysts have commented on SUI shares. Royal Bank of Canada increased their target price on Sun Communities from $95.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, October 26th. Zacks Investment Research downgraded Sun Communities from a “hold” rating to a “sell” rating in a research report on Thursday, October 19th. Robert W. Baird reiterated a “buy” rating and issued a $95.00 target price on shares of Sun Communities in a research report on Friday, September 8th. ValuEngine upgraded Sun Communities from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Evercore ISI upgraded Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 target price for the company in a research report on Monday, December 4th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $93.00.

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About Sun Communities

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

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