Sun Communities, Inc. (SUI) Shares Bought by Advisors Asset Management Inc.
Advisors Asset Management Inc. boosted its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 17.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,198 shares of the real estate investment trust’s stock after acquiring an additional 4,343 shares during the quarter. Advisors Asset Management Inc.’s holdings in Sun Communities were worth $2,502,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of SUI. Bank of New York Mellon Corp grew its holdings in Sun Communities by 303.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,532,663 shares of the real estate investment trust’s stock worth $134,399,000 after acquiring an additional 1,152,596 shares during the last quarter. Vanguard Group Inc. grew its holdings in Sun Communities by 9.4% during the 2nd quarter. Vanguard Group Inc. now owns 11,504,907 shares of the real estate investment trust’s stock worth $1,008,865,000 after acquiring an additional 983,835 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Sun Communities during the 2nd quarter worth about $70,725,000. Renaissance Technologies LLC grew its holdings in Sun Communities by 305.2% during the 2nd quarter. Renaissance Technologies LLC now owns 676,700 shares of the real estate investment trust’s stock worth $59,340,000 after acquiring an additional 509,700 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in Sun Communities by 9.7% during the 2nd quarter. BlackRock Inc. now owns 5,132,844 shares of the real estate investment trust’s stock worth $450,100,000 after acquiring an additional 454,187 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.
Sun Communities, Inc. (NYSE:SUI) traded up $0.72 during trading on Friday, reaching $93.89. 119,032 shares of the company’s stock were exchanged, compared to its average volume of 273,810. Sun Communities, Inc. has a 52 week low of $70.34 and a 52 week high of $93.92. The firm has a market cap of $7,449.51, a P/E ratio of 22.90, a PEG ratio of 3.59 and a beta of 0.28.
Sun Communities (NYSE:SUI) last released its earnings results on Monday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.79. Sun Communities had a net margin of 7.37% and a return on equity of 2.76%. The company had revenue of $268.20 million for the quarter, compared to the consensus estimate of $239.45 million. During the same period in the prior year, the company posted $1.13 EPS. analysts forecast that Sun Communities, Inc. will post 4.16 earnings per share for the current year.
In other Sun Communities news, Director Clunet R. Lewis sold 5,292 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $86.20, for a total transaction of $456,170.40. Following the transaction, the director now directly owns 18,800 shares in the company, valued at approximately $1,620,560. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jonathan Colman sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $93.21, for a total transaction of $186,420.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,584 shares of company stock worth $1,010,694. Corporate insiders own 4.15% of the company’s stock.
SUI has been the topic of a number of research analyst reports. Royal Bank Of Canada increased their price objective on shares of Sun Communities from $95.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. Zacks Investment Research lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Thursday, October 19th. Robert W. Baird reissued a “buy” rating and set a $95.00 price objective on shares of Sun Communities in a report on Friday, September 8th. ValuEngine raised shares of Sun Communities from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Finally, BMO Capital Markets began coverage on shares of Sun Communities in a report on Monday, October 9th. They set an “outperform” rating and a $96.00 price objective on the stock. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $92.29.
About Sun Communities
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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