Nomura Asset Management Co. Ltd. reduced its stake in Sun Communities, Inc. (NYSE:SUI) by 11.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,830 shares of the real estate investment trust’s stock after selling 6,129 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.06% of Sun Communities worth $3,927,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. QS Investors LLC grew its stake in shares of 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 worth $326,000 after acquiring an additional 10 shares during the last quarter. People s United Financial Inc. grew its stake in shares of 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 worth $812,000 after acquiring an additional 30 shares during the last quarter. NGAM Advisors L.P. grew its stake in shares of Sun Communities by 0.6% in the second quarter. NGAM Advisors L.P. now owns 19,555 shares of the real estate investment trust’s stock worth $1,715,000 after acquiring an additional 119 shares during the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of 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 worth $198,000 after acquiring an additional 133 shares during the last quarter. Finally, Comerica Bank grew its stake in shares of Sun Communities by 4.7% in the second quarter. Comerica Bank now owns 3,265 shares of the real estate investment trust’s stock worth $291,000 after acquiring an additional 148 shares during the last quarter. 93.62% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently commented on SUI shares. Royal Bank Of Canada increased their target price on Sun Communities from $95.00 to $96.00 and gave the stock an “outperform” rating in a research note on Thursday, October 26th. Zacks Investment Research cut Sun Communities from a “hold” rating to a “sell” rating in a research note on Thursday, October 19th. Robert W. Baird reissued a “buy” rating and issued a $95.00 target price on shares of Sun Communities in a research note on Friday, September 8th. ValuEngine raised Sun Communities from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Finally, Evercore ISI raised Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 target price on the stock in a research note on Monday, December 4th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Sun Communities presently has a consensus rating of “Buy” and an average target price of $92.29.

Sun Communities, Inc. (SUI) traded up $0.45 during trading on Friday, hitting $95.60. The company had a trading volume of 316,490 shares, compared to its average volume of 265,595. Sun Communities, Inc. has a 12 month low of $72.51 and a 12 month high of $95.81. The stock has a market capitalization of $7,585.19, a PE ratio of 23.32, a PEG ratio of 3.65 and a beta of 0.27.

Sun Communities (NYSE:SUI) last released its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, beating the 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 for the quarter, compared to analysts’ expectations of $239.45 million. During the same period last year, the firm posted $1.13 earnings per share. equities analysts expect that Sun Communities, Inc. will post 4.16 EPS for the current year.

In related news, Director Clunet R. Lewis sold 5,292 shares of the stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $86.20, for a total transaction of $456,170.40. Following the sale, the director now directly owns 18,800 shares of the company’s stock, valued at $1,620,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Clunet R. Lewis sold 1,292 shares of the stock in a transaction on Monday, September 25th. The shares were sold at an average price of $86.52, for a total value of $111,783.84. Following the sale, the director now directly owns 18,800 shares in the company, valued at $1,626,576. The disclosure for this sale can be found here. Insiders have sold 11,584 shares of company stock worth $1,010,694 over the last ninety days. 4.15% of the stock is currently owned by insiders.

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

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