UBS Asset Management Americas Inc. grew its stake in Sun Communities, Inc. (NYSE:SUI) by 22.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 764,962 shares of the real estate investment trust’s stock after purchasing an additional 142,533 shares during the period. UBS Asset Management Americas Inc.’s holdings in Sun Communities were worth $116,236,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Glassman Wealth Services raised its stake in Sun Communities by 9,400.0% during the 4th quarter. Glassman Wealth Services now owns 190 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 188 shares in the last quarter. Charter Oak Capital Management LLC purchased a new position in shares of Sun Communities during the fourth quarter worth about $33,000. Paces Ferry Wealth Advisors LLC acquired a new stake in shares of Sun Communities during the third quarter worth about $32,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Sun Communities in the 4th quarter valued at about $47,000. Finally, Inspire Advisors LLC acquired a new stake in shares of Sun Communities in the 4th quarter valued at about $60,000. 85.95% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on SUI shares. Robert W. Baird started coverage on Sun Communities in a research note on Wednesday, January 20th. They issued an “outperform” rating and a $155.00 price objective for the company. Zacks Investment Research upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a research report on Friday, March 5th. BMO Capital Markets initiated coverage on Sun Communities in a research note on Sunday, March 7th. They set a “buy” rating and a $165.00 price target for the company. Royal Bank of Canada assumed coverage on shares of Sun Communities in a research report on Tuesday, March 30th. They issued an “outperform” rating and a $162.00 price objective on the stock. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of Sun Communities from a “neutral” rating to a “buy” rating in a report on Tuesday, December 15th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Sun Communities has a consensus rating of “Buy” and an average target price of $156.71.
Sun Communities (NYSE:SUI) last released its quarterly earnings results on Tuesday, February 16th. The real estate investment trust reported $0.24 EPS for the quarter, beating the consensus estimate of $0.09 by $0.15. Sun Communities had a net margin of 11.76% and a return on equity of 4.26%. On average, research analysts expect that Sun Communities, Inc. will post 5.04 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Wednesday, March 31st will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, March 30th. This is a boost from Sun Communities’s previous quarterly dividend of $0.79. Sun Communities’s dividend payout ratio (DPR) is currently 67.48%.
About Sun Communities
Sun Communities, Inc is a REIT that, as of September 30, 2020, owned, operated, or had an interest in a portfolio of 432 communities comprising nearly 146,000 developed sites in 32 states and Ontario, Canada.
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