Metropolitan Life Insurance Co. NY Has $445,000 Position in Sun Communities, Inc. (SUI)
Metropolitan Life Insurance Co. NY cut its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 0.4% during the first quarter, Holdings Channel reports. The institutional investor owned 5,541 shares of the real estate investment trust’s stock after selling 20 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Sun Communities were worth $445,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Macquarie Group Ltd. boosted its position in Sun Communities by 3.5% in the fourth quarter. Macquarie Group Ltd. now owns 20,800 shares of the real estate investment trust’s stock valued at $1,593,000 after buying an additional 700 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Sun Communities during the first quarter valued at about $305,000. Duff & Phelps Investment Management Co. boosted its position in Sun Communities by 21.4% in the first quarter. Duff & Phelps Investment Management Co. now owns 614,055 shares of the real estate investment trust’s stock valued at $49,327,000 after buying an additional 108,350 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Sun Communities by 27.0% in the first quarter. State of Alaska Department of Revenue now owns 40,840 shares of the real estate investment trust’s stock valued at $3,280,000 after buying an additional 8,680 shares in the last quarter. Finally, Douglas Lane & Associates LLC purchased a new position in Sun Communities during the first quarter valued at about $249,000. Hedge funds and other institutional investors own 89.21% of the company’s stock.
Sun Communities, Inc. (NYSE SUI) traded down 0.27% during trading on Tuesday, reaching $88.83. 19,486 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $88.07 and a 200 day moving average price of $84.49. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 127.08 and a beta of 0.28. Sun Communities, Inc. has a 52 week low of $69.90 and a 52 week high of $91.37.
Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by $0.03. The firm had revenue of $237.90 million for the quarter, compared to analyst estimates of $210.58 million. Sun Communities had a return on equity of 2.59% and a net margin of 6.82%. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period last year, the firm earned $0.85 EPS. Equities research analysts forecast that Sun Communities, Inc. will post $0.99 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Wednesday, June 28th. Sun Communities’s payout ratio is 382.86%.
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Several equities analysts recently issued reports on SUI shares. Zacks Investment Research upgraded shares of Sun Communities from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Friday, May 19th. Bank of America Corporation upgraded shares of Sun Communities from an “underperform” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Monday, May 22nd. Royal Bank Of Canada started coverage on shares of Sun Communities in a research report on Thursday, June 1st. They set an “outperform” rating and a $92.00 price objective for the company. Finally, BidaskClub upgraded shares of Sun Communities from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $90.17.
In related news, COO John Bandini Mclaren sold 5,400 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $88.43, for a total value of $477,522.00. Following the completion of the transaction, the chief operating officer now owns 153,159 shares of the company’s stock, valued at approximately $13,543,850.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.15% of the company’s stock.
Sun Communities Company Profile
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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