Macquarie Group Ltd. Raises Stake in Sun Communities Inc (SUI)
Macquarie Group Ltd. raised its stake in shares of Sun Communities Inc (NYSE:SUI) by 20.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 157,666 shares of the real estate investment trust’s stock after purchasing an additional 27,152 shares during the period. Macquarie Group Ltd. owned approximately 0.19% of Sun Communities worth $15,432,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. United Services Automobile Association boosted its stake in Sun Communities by 4.2% during the 2nd quarter. United Services Automobile Association now owns 12,741 shares of the real estate investment trust’s stock valued at $1,247,000 after purchasing an additional 516 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Sun Communities by 3.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 17,200 shares of the real estate investment trust’s stock valued at $1,684,000 after purchasing an additional 600 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Sun Communities by 28.1% during the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,188 shares of the real estate investment trust’s stock valued at $312,000 after purchasing an additional 700 shares during the last quarter. First Mercantile Trust Co. boosted its stake in Sun Communities by 46.3% during the 2nd quarter. First Mercantile Trust Co. now owns 2,400 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 760 shares during the last quarter. Finally, Virtu Financial LLC boosted its stake in Sun Communities by 35.1% during the 2nd quarter. Virtu Financial LLC now owns 3,117 shares of the real estate investment trust’s stock valued at $305,000 after purchasing an additional 809 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.
In other news, COO John Bandini Mclaren sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $96.16, for a total value of $625,040.00. Following the transaction, the chief operating officer now owns 162,294 shares in the company, valued at approximately $15,606,191.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.69% of the stock is owned by insiders.
Shares of NYSE SUI opened at $101.84 on Friday. Sun Communities Inc has a twelve month low of $80.12 and a twelve month high of $103.74. The company has a market capitalization of $8.28 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 3.38 and a beta of 0.06.
Sun Communities (NYSE:SUI) last announced its earnings results on Wednesday, July 25th. The real estate investment trust reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). Sun Communities had a return on equity of 3.44% and a net margin of 8.91%. The business had revenue of $271.43 million during the quarter, compared to analysts’ expectations of $235.02 million. During the same quarter in the previous year, the firm earned $0.96 EPS. Sun Communities’s quarterly revenue was up 14.1% on a year-over-year basis. research analysts forecast that Sun Communities Inc will post 4.59 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.79%. Sun Communities’s payout ratio is presently 68.11%.
About Sun Communities
Sun Communities, Inc is a REIT that, as of June 30, 2018, owned, operated, or had an interest in a portfolio of 367 communities comprising approximately 126,000 developed sites in 31 states and Ontario, Canada. For more information about Sun Communities, Inc, please visit www.suncommunities.com.
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