Marshall Wace North America L.P. purchased a new position in shares of Sun Communities Inc (NYSE:SUI) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 19,247 shares of the real estate investment trust’s stock, valued at approximately $1,954,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc increased its position in shares of Sun Communities by 5.4% in the 3rd quarter. Vanguard Group Inc now owns 11,641,879 shares of the real estate investment trust’s stock valued at $1,182,116,000 after acquiring an additional 600,622 shares during the period. Legal & General Group Plc grew its position in Sun Communities by 8.5% during the 3rd quarter. Legal & General Group Plc now owns 290,339 shares of the real estate investment trust’s stock worth $29,481,000 after purchasing an additional 22,715 shares during the period. Nordea Investment Management AB acquired a new stake in Sun Communities during the 3rd quarter worth about $26,813,000. TIAA CREF Investment Management LLC grew its position in Sun Communities by 7.3% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 507,212 shares of the real estate investment trust’s stock worth $51,502,000 after purchasing an additional 34,533 shares during the period. Finally, Teachers Advisors LLC grew its position in Sun Communities by 19.0% during the 3rd quarter. Teachers Advisors LLC now owns 840,347 shares of the real estate investment trust’s stock worth $85,329,000 after purchasing an additional 134,441 shares during the period. 93.31% of the stock is currently owned by institutional investors and hedge funds.

SUI stock opened at $107.50 on Friday. Sun Communities Inc has a 52-week low of $80.12 and a 52-week high of $108.91. The stock has a market cap of $9.22 billion, a PE ratio of 25.78, a PEG ratio of 3.52 and a beta of 0.13.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, October 24th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.07. Sun Communities had a net margin of 10.16% and a return on equity of 3.95%. The business had revenue of $323.54 million for the quarter, compared to analyst estimates of $292.22 million. As a group, research analysts predict that Sun Communities Inc will post 4.59 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, December 28th. Sun Communities’s payout ratio is currently 68.11%.

In other news, Director Clunet R. Lewis sold 1,200 shares of the stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $99.95, for a total transaction of $119,940.00. Following the sale, the director now directly owns 19,400 shares of the company’s stock, valued at approximately $1,939,030. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO John Bandini Mclaren sold 2,400 shares of the stock in a transaction dated Friday, November 30th. The stock was sold at an average price of $103.42, for a total transaction of $248,208.00. Following the sale, the chief operating officer now directly owns 152,624 shares in the company, valued at $15,784,374.08. The disclosure for this sale can be found here. Corporate insiders own 3.69% of the company’s stock.

Several equities research analysts have weighed in on SUI shares. Wells Fargo & Co increased their price target on Sun Communities from $103.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, August 24th. Royal Bank of Canada increased their price target on Sun Communities to $105.00 and gave the stock an “above average” rating in a research report on Thursday, August 30th. They noted that the move was a valuation call. Zacks Investment Research raised Sun Communities from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a research report on Friday, September 7th. BMO Capital Markets increased their price target on Sun Communities to $109.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 11th. Finally, Robert W. Baird increased their price target on Sun Communities from $102.00 to $106.00 and gave the stock an “outperform” rating in a research report on Monday, September 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $108.50.

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Sun Communities Profile

Sun Communities, Inc is a REIT that, as of September 30, 2018, owned, operated, or had an interest in a portfolio of 370 communities comprising over 127,000 developed sites in 31 states and Ontario, Canada.

Further Reading: What is the Coverage Ratio?

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

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