Redpoint Investment Management Pty Ltd increased its stake in Sun Communities, Inc. (NYSE:SUI – Get Rating) by 8.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,897 shares of the real estate investment trust’s stock after purchasing an additional 881 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in Sun Communities were worth $1,910,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in SUI. Tudor Investment Corp Et Al purchased a new position in shares of Sun Communities in the 3rd quarter valued at about $3,132,000. MML Investors Services LLC increased its holdings in shares of Sun Communities by 7.4% in the 3rd quarter. MML Investors Services LLC now owns 3,952 shares of the real estate investment trust’s stock valued at $732,000 after purchasing an additional 271 shares in the last quarter. LPL Financial LLC increased its holdings in shares of Sun Communities by 8.2% in the 3rd quarter. LPL Financial LLC now owns 11,553 shares of the real estate investment trust’s stock valued at $2,138,000 after purchasing an additional 879 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of Sun Communities in the 3rd quarter valued at about $401,000. Finally, Squarepoint Ops LLC acquired a new stake in Sun Communities in the 3rd quarter valued at about $4,904,000.
In related news, Director Clunet R. Lewis sold 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $153.39, for a total value of $674,916.00. Following the transaction, the director now owns 26,400 shares in the company, valued at $4,049,496. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO John Bandini Mclaren sold 11,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $180.27, for a total transaction of $2,073,105.00. Following the completion of the transaction, the chief operating officer now owns 148,691 shares in the company, valued at approximately $26,804,526.57. The disclosure for this sale can be found here. 2.25% of the stock is currently owned by company insiders.
Sun Communities (NYSE:SUI – Get Rating) last released its earnings results on Monday, April 25th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). Sun Communities had a return on equity of 5.09% and a net margin of 14.97%. During the same quarter last year, the firm earned $1.26 earnings per share. On average, sell-side analysts expect that Sun Communities, Inc. will post 7.3 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $3.52 annualized dividend and a dividend yield of 2.22%. Sun Communities’s dividend payout ratio is presently 113.55%.
A number of equities research analysts recently commented on SUI shares. Barclays lowered their price objective on shares of Sun Communities from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Thursday, April 14th. TheStreet cut shares of Sun Communities from a “b” rating to a “c+” rating in a research note on Monday, March 14th. Evercore ISI set a $194.00 price objective on shares of Sun Communities in a research note on Monday. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Thursday, May 5th. Finally, JMP Securities initiated coverage on shares of Sun Communities in a research note on Wednesday, April 20th. They set an “outperform” rating and a $220.00 price target on the stock. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $213.63.
Sun Communities Profile (Get Rating)
Sun Communities, Inc is a REIT that, as of September 30, 2020, owned, operated, or had an interest in a portfolio of 432 communities comprising nearly 146,000 developed sites in 32 states and Ontario, Canada.
- Get a free copy of the StockNews.com research report on Sun Communities (SUI)
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