SG Americas Securities LLC raised its position in Sun Communities Inc (NYSE:SUI) by 123.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 42,087 shares of the real estate investment trust’s stock after purchasing an additional 23,224 shares during the period. SG Americas Securities LLC’s holdings in Sun Communities were worth $6,248,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. CWM LLC increased its stake in Sun Communities by 45.0% in the 3rd quarter. CWM LLC now owns 245 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 76 shares during the last quarter. Cornerstone Advisors Inc. increased its stake in Sun Communities by 28.3% in the 3rd quarter. Cornerstone Advisors Inc. now owns 317 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 70 shares during the last quarter. Price Capital Management Inc. purchased a new stake in Sun Communities in the 3rd quarter valued at about $59,000. Squar Milner Financial Services LLC increased its stake in Sun Communities by 59.1% in the 3rd quarter. Squar Milner Financial Services LLC now owns 479 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 178 shares during the last quarter. Finally, Whittier Trust Co. purchased a new stake in Sun Communities in the 2nd quarter valued at about $82,000. Hedge funds and other institutional investors own 93.94% of the company’s stock.
Shares of SUI stock traded down $0.92 during trading hours on Friday, hitting $153.80. 464,617 shares of the company were exchanged, compared to its average volume of 491,139. The firm has a fifty day simple moving average of $154.00 and a 200 day simple moving average of $138.51. Sun Communities Inc has a 52-week low of $96.95 and a 52-week high of $163.71. The stock has a market capitalization of $14.08 billion, a price-to-earnings ratio of 33.58, a P/E/G ratio of 5.37 and a beta of 0.21.
Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.05). Sun Communities had a return on equity of 4.25% and a net margin of 11.62%. The company had revenue of $362.44 million for the quarter, compared to analysts’ expectations of $321.14 million. During the same quarter in the previous year, the business earned $1.35 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Research analysts forecast that Sun Communities Inc will post 4.89 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, September 27th. This represents a $3.00 annualized dividend and a dividend yield of 1.95%. Sun Communities’s payout ratio is currently 65.50%.
In other news, Director Arthur A. Weiss sold 257 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $147.57, for a total transaction of $37,925.49. Following the completion of the sale, the director now owns 29,156 shares in the company, valued at approximately $4,302,550.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO John Bandini Mclaren sold 7,410 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $146.74, for a total transaction of $1,087,343.40. Following the sale, the chief operating officer now owns 120,483 shares of the company’s stock, valued at approximately $17,679,675.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,871 shares of company stock valued at $2,789,063. 3.34% of the stock is currently owned by company insiders.
Several research firms have commented on SUI. ValuEngine lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Wells Fargo & Co increased their price objective on shares of Sun Communities from $118.00 to $137.00 and gave the company a “market perform” rating in a research note on Wednesday, September 18th. Finally, Zacks Investment Research lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Sun Communities presently has a consensus rating of “Hold” and a consensus target price of $136.25.
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.
Further Reading: Book Value Of Equity Per Share – BVPS Explained
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