K.J. Harrison & Partners Inc acquired a new stake in shares of Sun Communities Inc. (NYSE:SUI) during the second quarter, Holdings Channel reports. The institutional investor acquired 10,000 shares of the real estate investment trust’s stock, valued at approximately $766,000.

Other hedge funds have also recently modified their holdings of the company. Landscape Capital Management L.L.C. increased its stake in shares of Sun Communities by 407.8% in the first quarter. Landscape Capital Management L.L.C. now owns 85,800 shares of the real estate investment trust’s stock valued at $6,144,000 after buying an additional 68,903 shares during the period. BlackRock Japan Co. Ltd increased its stake in Sun Communities by 0.8% in the first quarter. BlackRock Japan Co. Ltd now owns 3,078 shares of the real estate investment trust’s stock worth $220,000 after buying an additional 24 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Sun Communities by 4.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,097,222 shares of the real estate investment trust’s stock worth $150,182,000 after buying an additional 80,780 shares during the last quarter. BlackRock Group LTD increased its stake in Sun Communities by 13.7% in the first quarter. BlackRock Group LTD now owns 433,623 shares of the real estate investment trust’s stock worth $31,051,000 after buying an additional 52,252 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Sun Communities by 11.8% in the first quarter. BlackRock Inc. now owns 55,092 shares of the real estate investment trust’s stock worth $3,945,000 after buying an additional 5,824 shares during the last quarter. 93.94% of the stock is owned by institutional investors.

Sun Communities Inc. (NYSE:SUI) traded up 1.01% during trading on Thursday, reaching $79.64. 489,600 shares of the company’s stock were exchanged. Sun Communities Inc. has a 52-week low of $61.65 and a 52-week high of $85.98. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 39.74 and a beta of 0.60. The stock’s 50-day moving average price is $77.43 and its 200-day moving average price is $73.12.

Sun Communities (NYSE:SUI) last posted its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.03. Sun Communities had a return on equity of 8.30% and a net margin of 19.60%. The firm earned $140 million during the quarter, compared to analyst estimates of $165.78 million. During the same period in the previous year, the company earned $0.87 EPS. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities analysts expect that Sun Communities Inc. will post $3.76 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a $0.65 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $2.60 annualized dividend and a yield of 3.26%. Sun Communities’s dividend payout ratio (DPR) is currently 122.64%.

SUI has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Sun Communities from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research report on Wednesday, July 27th. Citigroup Inc. raised shares of Sun Communities from a “neutral” rating to a “buy” rating and raised their price target for the stock from $80.00 to $86.00 in a research report on Monday, September 12th. TheStreet downgraded shares of Sun Communities from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Finally, BMO Capital Markets raised shares of Sun Communities from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research report on Friday, September 16th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $83.00.

In related news, Director Clunet R. Lewis sold 1,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $78.16, for a total value of $140,688.00. Following the completion of the sale, the director now directly owns 18,400 shares in the company, valued at approximately $1,438,144. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gary A. Shiffman sold 21,570 shares of the business’s stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $75.71, for a total value of $1,633,064.70. Following the completion of the sale, the chief executive officer now owns 1,348,460 shares of the company’s stock, valued at $102,091,906.60. The disclosure for this sale can be found here. 5.14% of the stock is owned by corporate insiders.

About Sun Communities

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.

5 Day Chart for NYSE:SUI

Want to see what other hedge funds are holding SUI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Communities Inc. (NYSE:SUI).

Receive News & Ratings for Sun Communities Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Communities Inc. and related companies with MarketBeat.com's FREE daily email newsletter.