Sun Communities Inc. (SUI) Sees Unusually-High Trading Volume
Shares of Sun Communities Inc. (NYSE:SUI) saw an uptick in trading volume on Thursday . 851,841 shares changed hands during trading, a decline of 4% from the previous session’s volume of 883,469 shares.The stock last traded at $75.25 and had previously closed at $76.05.
A number of research analysts have weighed in on SUI shares. BMO Capital Markets restated a “hold” rating on shares of Sun Communities in a research note on Wednesday, April 6th. Zacks Investment Research upgraded Sun Communities from a “sell” rating to a “hold” rating in a research note on Wednesday, April 20th. Citigroup Inc. raised their price target on Sun Communities from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th. Finally, Robert W. Baird upgraded Sun Communities from a “neutral” rating to an “outperform” rating and raised their price target for the company from $67.00 to $74.00 in a research note on Wednesday, March 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Sun Communities presently has a consensus rating of “Hold” and an average price target of $75.67.
The firm has a market capitalization of $4.87 billion and a P/E ratio of 30.46. The stock’s 50 day moving average price is $72.90 and its 200-day moving average price is $69.58.
Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Tuesday, April 26th. The real estate investment trust reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The business earned $129.24 million during the quarter, compared to analyst estimates of $124.36 million. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 earnings per share. Equities analysts anticipate that Sun Communities Inc. will post $3.72 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Tuesday, June 28th.
In other news, Director Paul D. Lapides sold 6,127 shares of the business’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $68.23, for a total value of $418,045.21. Following the transaction, the director now directly owns 12,400 shares of the company’s stock, valued at approximately $846,052. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary A. Shiffman sold 18,642 shares of the business’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $75.67, for a total value of $1,410,640.14. Following the completion of the transaction, the chief executive officer now directly owns 1,326,790 shares in the company, valued at $100,398,199.30. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently bought and sold shares of SUI. Teacher Retirement System of Texas increased its position in Sun Communities by 1.1% in the fourth quarter. Teacher Retirement System of Texas now owns 68,323 shares of the real estate investment trust’s stock worth $4,682,000 after buying an additional 765 shares during the period. Nationwide Fund Advisors increased its position in Sun Communities by 3.5% in the fourth quarter. Nationwide Fund Advisors now owns 46,033 shares of the real estate investment trust’s stock worth $3,155,000 after buying an additional 1,556 shares during the period. Rhumbline Advisers increased its position in Sun Communities by 4.3% in the fourth quarter. Rhumbline Advisers now owns 69,463 shares of the real estate investment trust’s stock worth $4,760,000 after buying an additional 2,835 shares during the period. First Trust Advisors LP increased its position in Sun Communities by 14.9% in the fourth quarter. First Trust Advisors LP now owns 22,382 shares of the real estate investment trust’s stock worth $1,534,000 after buying an additional 2,900 shares during the period. Finally, Swiss National Bank increased its position in Sun Communities by 4.8% in the fourth quarter. Swiss National Bank now owns 68,763 shares of the real estate investment trust’s stock worth $4,712,000 after buying an additional 3,163 shares during the period.
Sun Communities, Inc (SHS) is a self-administered and self-managed real estate investment trust (REIT). The Company operates in two segments: Real Property Operations, and Home Sales and Rentals. The Real Property Operations segment owns, operates and develops manufactured housing (MH) and recreational vehicle (RV) throughout the United States and is in the business of acquiring, operating and expanding MH and RV communities.
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