Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in Sun Communities Inc (NYSE:SUI) by 32.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,851 shares of the real estate investment trust’s stock after selling 22,997 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sun Communities were worth $6,492,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Advisor Group Holdings Inc. bought a new stake in Sun Communities in the 1st quarter valued at $2,555,000. Mackenzie Financial Corp raised its stake in Sun Communities by 13.4% in the 1st quarter. Mackenzie Financial Corp now owns 2,499 shares of the real estate investment trust’s stock valued at $312,000 after acquiring an additional 296 shares during the period. State of Alaska Department of Revenue raised its stake in Sun Communities by 38.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 87,627 shares of the real estate investment trust’s stock valued at $11,889,000 after acquiring an additional 24,394 shares during the period. APG Asset Management N.V. raised its stake in Sun Communities by 119.6% in the 1st quarter. APG Asset Management N.V. now owns 90,947 shares of the real estate investment trust’s stock valued at $11,355,000 after acquiring an additional 49,533 shares during the period. Finally, Jane Street Group LLC bought a new stake in Sun Communities in the 1st quarter valued at $2,861,000. Institutional investors and hedge funds own 91.42% of the company’s stock.

Several research analysts have weighed in on the company. TheStreet upgraded Sun Communities from a “c+” rating to a “b-” rating in a research report on Friday, July 24th. Royal Bank of Canada increased their price objective on Sun Communities from $147.00 to $151.00 and gave the stock an “outperform” rating in a research report on Tuesday. Citigroup increased their price objective on Sun Communities from $140.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Wells Fargo & Co lowered their price objective on Sun Communities from $158.00 to $139.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Finally, Zacks Investment Research cut Sun Communities from a “buy” rating to a “hold” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $153.20.

Shares of NYSE SUI opened at $149.93 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.39 and a current ratio of 5.39. Sun Communities Inc has a 52 week low of $95.34 and a 52 week high of $173.98. The stock has a market capitalization of $14.74 billion, a P/E ratio of 108.65, a PEG ratio of 4.42 and a beta of 0.52. The stock’s fifty day moving average is $139.60 and its 200 day moving average is $141.40.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.57). Sun Communities had a return on equity of 3.93% and a net margin of 10.37%. The company had revenue of $303.27 million during the quarter, compared to the consensus estimate of $311.24 million. Equities research analysts forecast that Sun Communities Inc will post 4.93 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, June 29th. Sun Communities’s payout ratio is currently 64.23%.

In related news, Director Clunet R. Lewis sold 4,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $143.50, for a total value of $574,000.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $2,870,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.72% of the stock is currently owned by company insiders.

About Sun Communities

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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