Fmr LLC trimmed its position in shares of Sun Communities Inc (NYSE:SUI) by 13.6% in the third quarter, Holdings Channel reports. The institutional investor owned 2,108,071 shares of the real estate investment trust’s stock after selling 332,310 shares during the period. Fmr LLC’s holdings in Sun Communities were worth $214,054,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SUI. Winslow Evans & Crocker Inc. acquired a new stake in Sun Communities in the 3rd quarter valued at $126,000. Qube Research & Technologies Ltd acquired a new stake in Sun Communities in the 2nd quarter valued at $137,000. Robeco Institutional Asset Management B.V. acquired a new stake in Sun Communities in the 3rd quarter valued at $162,000. Raymond James Trust N.A. acquired a new stake in Sun Communities in the 3rd quarter valued at $223,000. Finally, Alps Advisors Inc. acquired a new stake in Sun Communities in the 2nd quarter valued at $226,000. Institutional investors and hedge funds own 93.31% of the company’s stock.

Shares of NYSE SUI opened at $105.05 on Thursday. Sun Communities Inc has a 12-month low of $80.12 and a 12-month high of $105.99. The firm has a market capitalization of $8.99 billion, a P/E ratio of 25.19, a P/E/G ratio of 3.47 and a beta of 0.13.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, October 24th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.07. Sun Communities had a return on equity of 3.95% and a net margin of 10.16%. The firm had revenue of $323.54 million during the quarter, compared to the consensus estimate of $292.22 million. Equities analysts anticipate that Sun Communities Inc will post 4.59 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $2.84 dividend on an annualized basis and a yield of 2.70%. Sun Communities’s payout ratio is currently 68.11%.

SUI has been the subject of several recent research reports. Wells Fargo & Co increased their price target on Sun Communities from $103.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, August 24th. BMO Capital Markets increased their price target on Sun Communities to $109.00 and gave the company an “outperform” rating in a report on Tuesday, September 11th. Zacks Investment Research downgraded Sun Communities from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. Robert W. Baird increased their price target on Sun Communities from $102.00 to $106.00 and gave the company an “outperform” rating in a report on Monday, September 17th. Finally, Citigroup increased their price target on Sun Communities from $100.00 to $105.00 and gave the company a “hold” rating in a report on Monday, October 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Sun Communities presently has an average rating of “Hold” and an average target price of $107.67.

In other Sun Communities news, COO John Bandini Mclaren sold 2,400 shares of the company’s stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $103.42, for a total value of $248,208.00. Following the completion of the transaction, the chief operating officer now directly owns 152,624 shares of the company’s stock, valued at approximately $15,784,374.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Clunet R. Lewis sold 1,200 shares of the company’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $99.95, for a total transaction of $119,940.00. Following the completion of the transaction, the director now directly owns 19,400 shares of the company’s stock, valued at $1,939,030. The disclosure for this sale can be found here. Corporate insiders own 3.69% of the company’s stock.

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About Sun Communities

Sun Communities, Inc is a REIT that, as of September 30, 2018, owned, operated, or had an interest in a portfolio of 370 communities comprising over 127,000 developed sites in 31 states and Ontario, Canada.

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

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