Westpac Banking Corp reduced its stake in Sun Communities Inc. (NYSE:SUI) by 4.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,530 shares of the real estate investment trust’s stock after selling 2,920 shares during the period. Westpac Banking Corp owned 0.09% of Sun Communities worth $4,869,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Sun Communities by 5.6% in the second quarter. Vanguard Group Inc. now owns 8,933,185 shares of the real estate investment trust’s stock valued at $684,640,000 after buying an additional 475,765 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Sun Communities by 2.0% in the second quarter. Daiwa Securities Group Inc. now owns 3,143,552 shares of the real estate investment trust’s stock valued at $240,922,000 after buying an additional 60,284 shares during the last quarter. Principal Financial Group Inc. increased its position in Sun Communities by 5.7% in the second quarter. Principal Financial Group Inc. now owns 2,298,414 shares of the real estate investment trust’s stock valued at $176,151,000 after buying an additional 124,039 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position 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 valued at $150,182,000 after buying an additional 80,780 shares during the last quarter. Finally, State Street Corp increased its position in Sun Communities by 3.2% in the first quarter. State Street Corp now owns 1,853,072 shares of the real estate investment trust’s stock valued at $132,701,000 after buying an additional 57,498 shares during the last quarter. Hedge funds and other institutional investors own 93.94% of the company’s stock.

Sun Communities Inc. (NYSE:SUI) opened at 79.46 on Thursday. Sun Communities Inc. has a 52 week low of $61.65 and a 52 week high of $85.98. The stock has a market cap of $5.45 billion, a PE ratio of 39.65 and a beta of 0.60. The company’s 50-day moving average is $77.38 and its 200 day moving average is $73.07.

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

The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Wednesday, September 28th. Sun Communities’s dividend payout ratio is currently 122.64%.

Several equities analysts have recently weighed in on SUI shares. BMO Capital Markets upgraded shares of Sun Communities from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research note on Friday, September 16th. TheStreet downgraded shares of Sun Communities from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. Citigroup Inc. upgraded shares of Sun Communities from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $86.00 in a research note on Monday, September 12th. Finally, Zacks Investment Research upgraded shares of Sun Communities from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research note on Wednesday, July 27th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $83.00.

In other Sun Communities news, CEO Gary A. Shiffman sold 21,570 shares of the company’s stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $75.71, for a total transaction of $1,633,064.70. Following the transaction, the chief executive officer now owns 1,348,460 shares in the company, valued at approximately $102,091,906.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Clunet R. Lewis sold 1,800 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $78.16, for a total transaction of $140,688.00. Following the transaction, the director now owns 18,400 shares in the company, valued at approximately $1,438,144. The disclosure for this sale can be found here. Company insiders own 5.14% of the company’s stock.

Sun Communities Company Profile

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

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