Quantitative Systematic Strategies LLC decreased its stake in Sun Communities Inc (NYSE:SUI) by 21.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 18,541 shares of the real estate investment trust’s stock after selling 4,974 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Sun Communities were worth $2,197,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of Sun Communities in the first quarter valued at about $765,000. Virginia National Bank acquired a new position in Sun Communities during the first quarter worth about $214,000. State of Alaska Department of Revenue boosted its position in Sun Communities by 0.7% during the first quarter. State of Alaska Department of Revenue now owns 36,837 shares of the real estate investment trust’s stock worth $4,364,000 after acquiring an additional 245 shares during the last quarter. First Hawaiian Bank boosted its position in Sun Communities by 0.9% during the first quarter. First Hawaiian Bank now owns 10,690 shares of the real estate investment trust’s stock worth $1,267,000 after acquiring an additional 100 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in Sun Communities by 67.8% during the fourth quarter. Deutsche Bank AG now owns 186,502 shares of the real estate investment trust’s stock worth $18,967,000 after acquiring an additional 75,325 shares during the last quarter. Institutional investors and hedge funds own 94.36% of the company’s stock.

SUI traded down $0.89 on Monday, reaching $120.01. 269,191 shares of the company’s stock were exchanged, compared to its average volume of 348,679. The firm has a market capitalization of $10.44 billion, a PE ratio of 26.20, a PEG ratio of 4.10 and a beta of 0.31. Sun Communities Inc has a twelve month low of $90.32 and a twelve month high of $121.28.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.92). The business had revenue of $274.00 million for the quarter, compared to analyst estimates of $287.90 million. Sun Communities had a return on equity of 3.78% and a net margin of 9.87%. The business’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Equities analysts anticipate that Sun Communities Inc will post 4.83 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.50%. This is a positive change from Sun Communities’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, March 28th. Sun Communities’s payout ratio is presently 65.50%.

SUI has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, February 12th. Wells Fargo & Co lowered shares of Sun Communities from an “outperform” rating to a “market perform” rating and set a $118.00 price target on the stock. in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $110.17.

In other Sun Communities news, CEO Gary A. Shiffman sold 12,859 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $117.84, for a total value of $1,515,304.56. Following the transaction, the chief executive officer now directly owns 1,418,466 shares in the company, valued at approximately $167,152,033.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arthur A. Weiss bought 257,179 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was purchased at an average price of $117.84 per share, for a total transaction of $30,305,973.36. Following the completion of the acquisition, the director now directly owns 29,156 shares in the company, valued at $3,435,743.04. The disclosure for this purchase can be found here. Insiders sold a total of 16,912 shares of company stock worth $1,985,363 over the last quarter. 3.34% of the stock is currently owned by company insiders.

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About Sun Communities

Sun Communities, Inc is a REIT that, as of December 31, 2018, owned, operated, or had an interest in a portfolio of 371 communities comprising over 128,000 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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