Greenleaf Trust reduced its stake in shares of Sun Communities Inc (NYSE:SUI) by 23.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,476 shares of the real estate investment trust’s stock after selling 775 shares during the period. Greenleaf Trust’s holdings in Sun Communities were worth $293,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SUI. Ffcm LLC purchased a new position in shares of Sun Communities in the fourth quarter valued at $26,000. Lindbrook Capital LLC purchased a new position in shares of Sun Communities in the fourth quarter valued at $31,000. Optimum Investment Advisors grew its holdings in shares of Sun Communities by 14.8% in the first quarter. Optimum Investment Advisors now owns 775 shares of the real estate investment trust’s stock valued at $92,000 after purchasing an additional 100 shares in the last quarter. Executive Wealth Management LLC purchased a new position in shares of Sun Communities in the fourth quarter valued at $102,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of Sun Communities by 43.2% in the first quarter. Quadrant Capital Group LLC now owns 1,200 shares of the real estate investment trust’s stock valued at $137,000 after purchasing an additional 362 shares in the last quarter. 91.15% of the stock is owned by institutional investors and hedge funds.

SUI stock opened at $126.13 on Friday. Sun Communities Inc has a fifty-two week low of $93.16 and a fifty-two week high of $127.39. The firm has a market capitalization of $10.75 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 4.38 and a beta of 0.31.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, April 24th. The real estate investment trust reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.06. The firm had revenue of $287.33 million during the quarter, compared to analyst estimates of $279.54 million. Sun Communities had a net margin of 10.00% and a return on equity of 3.76%. Sun Communities’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. As a group, research analysts predict that Sun Communities Inc will post 4.85 EPS for the current year.

A number of research analysts recently weighed in on the stock. Wells Fargo & Co lowered shares of Sun Communities from an “outperform” rating to a “market perform” rating and set a $118.00 target price for the company. in a report on Tuesday, March 26th. Zacks Investment Research lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $110.17.

In other Sun Communities news, Director Clunet R. Lewis sold 2,400 shares of Sun Communities stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $117.34, for a total transaction of $281,616.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $2,346,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan Colman sold 1,653 shares of Sun Communities stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $114.00, for a total transaction of $188,442.00. The disclosure for this sale can be found here. Insiders have sold 16,912 shares of company stock valued at $1,985,363 over the last ninety days. 3.34% of the stock is owned by insiders.

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Sun Communities Company Profile

Sun Communities, Inc is a REIT that, as of March 31, 2019, owned, operated, or had an interest in a portfolio of 379 communities comprising over 132,000 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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