Teacher Retirement System of Texas cut its position in shares of Sun Communities, Inc. (NYSE:SUI) by 7.1% during the second quarter, Holdings Channel reports. The institutional investor owned 61,314 shares of the real estate investment trust’s stock after selling 4,695 shares during the period. Teacher Retirement System of Texas’ holdings in Sun Communities were worth $5,377,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Sun Communities by 3.1% in the first quarter. Vanguard Group Inc. now owns 10,521,072 shares of the real estate investment trust’s stock worth $845,157,000 after buying an additional 316,089 shares in the last quarter. BlackRock Inc. boosted its stake in Sun Communities by 3,458.3% in the first quarter. BlackRock Inc. now owns 4,678,657 shares of the real estate investment trust’s stock worth $375,838,000 after buying an additional 4,547,170 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Sun Communities by 2.8% in the second quarter. Daiwa Securities Group Inc. now owns 3,903,615 shares of the real estate investment trust’s stock worth $342,308,000 after buying an additional 107,844 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Sun Communities by 3.7% in the first quarter. Principal Financial Group Inc. now owns 2,936,524 shares of the real estate investment trust’s stock worth $235,758,000 after buying an additional 104,001 shares in the last quarter. Finally, State Street Corp boosted its stake in Sun Communities by 1.8% in the first quarter. State Street Corp now owns 2,087,279 shares of the real estate investment trust’s stock worth $167,665,000 after buying an additional 37,814 shares in the last quarter. 89.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Sun Communities, Inc. (SUI) opened at 89.08 on Wednesday. The firm’s 50-day moving average is $88.06 and its 200 day moving average is $84.56. The firm has a market cap of $7.04 billion, a PE ratio of 127.44 and a beta of 0.28. Sun Communities, Inc. has a 52 week low of $69.90 and a 52 week high of $91.37.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by $0.03. Sun Communities had a net margin of 6.82% and a return on equity of 2.59%. The firm had revenue of $237.90 million during the quarter, compared to analysts’ expectations of $210.58 million. During the same quarter in the prior year, the business earned $0.85 EPS. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. Equities research analysts forecast that Sun Communities, Inc. will post $0.99 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Wednesday, June 28th. Sun Communities’s dividend payout ratio is currently 382.86%.

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SUI has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. BidaskClub cut shares of Sun Communities from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Royal Bank Of Canada reissued a “buy” rating and issued a $92.00 price target on shares of Sun Communities in a research note on Sunday, July 16th. Finally, Bank of America Corporation raised shares of Sun Communities from an “underperform” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Monday, May 22nd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Sun Communities currently has a consensus rating of “Hold” and a consensus target price of $90.17.

In other news, COO John Bandini Mclaren sold 5,400 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $88.43, for a total value of $477,522.00. Following the completion of the transaction, the chief operating officer now owns 153,159 shares in the company, valued at $13,543,850.37. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.15% of the company’s stock.

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

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