Sun Communities, Inc. (SUI) Director Purchases $10,842.87 in Stock
Sun Communities, Inc. (NYSE:SUI) Director Clunet R. Lewis purchased 131 shares of the stock in a transaction dated Monday, April 17th. The shares were acquired at an average price of $82.77 per share, with a total value of $10,842.87. Following the completion of the acquisition, the director now owns 18,800 shares in the company, valued at approximately $1,556,076. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Sun Communities, Inc. (SUI) traded up 0.25% during trading on Friday, reaching $85.68. The company had a trading volume of 296,173 shares. The firm has a 50-day moving average of $89.17 and a 200 day moving average of $86.12. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of 122.58 and a beta of 0.29. Sun Communities, Inc. has a 52 week low of $69.90 and a 52 week high of $91.87.
Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.03). Sun Communities had a net margin of 6.82% and a return on equity of 2.59%. The business had revenue of $237.90 million during the quarter, compared to analyst estimates of $210.58 million. During the same quarter in the previous year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, equities research analysts forecast that Sun Communities, Inc. will post $0.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Thursday, September 28th. Sun Communities’s dividend payout ratio (DPR) is presently 382.86%.
A number of hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd purchased a new stake in Sun Communities during the second quarter valued at about $676,000. Public Employees Retirement System of Ohio grew its position in Sun Communities by 4.9% during the second quarter. Public Employees Retirement System of Ohio now owns 109,992 shares of the real estate investment trust’s stock valued at $9,645,000 after acquiring an additional 5,141 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Sun Communities by 3.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 9,777 shares of the real estate investment trust’s stock valued at $857,000 after acquiring an additional 310 shares during the period. The Manufacturers Life Insurance Company grew its position in Sun Communities by 8.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,299 shares of the real estate investment trust’s stock valued at $202,000 after acquiring an additional 178 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in Sun Communities by 476.5% during the second quarter. Cubist Systematic Strategies LLC now owns 12,222 shares of the real estate investment trust’s stock valued at $1,072,000 after acquiring an additional 10,102 shares during the period. 94.31% of the stock is owned by hedge funds and other institutional investors.
SUI has been the subject of a number of research analyst reports. BidaskClub cut Sun Communities from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Zacks Investment Research upgraded Sun Communities from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a report on Friday, June 23rd. Royal Bank Of Canada reiterated a “buy” rating and set a $92.00 price target on shares of Sun Communities in a report on Sunday, July 16th. Finally, Robert W. Baird reiterated a “buy” rating and set a $95.00 price target on shares of Sun Communities in a report on Friday, September 8th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Sun Communities presently has an average rating of “Buy” and an average price target of $89.71.
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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