Norris Perne & French LLP MI maintained its stake in Sun Communities, Inc. (NYSE:SUI) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,500 shares of the real estate investment trust’s stock at the end of the second quarter. Norris Perne & French LLP MI’s holdings in Sun Communities were worth $219,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SUI. Comerica Bank raised its stake in Sun Communities by 0.6% in the first quarter. Comerica Bank now owns 3,117 shares of the real estate investment trust’s stock worth $263,000 after buying an additional 19 shares in the last quarter. 1st Global Advisors Inc. raised its stake in Sun Communities by 0.7% in the first quarter. 1st Global Advisors Inc. now owns 7,257 shares of the real estate investment trust’s stock worth $583,000 after buying an additional 53 shares in the last quarter. Wagner Bowman Management Corp raised its stake in Sun Communities by 0.6% in the first quarter. Wagner Bowman Management Corp now owns 13,661 shares of the real estate investment trust’s stock worth $1,097,000 after buying an additional 84 shares in the last quarter. NGAM Advisors L.P. raised its stake in Sun Communities by 0.6% in the second quarter. NGAM Advisors L.P. now owns 19,555 shares of the real estate investment trust’s stock worth $1,715,000 after buying an additional 119 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Sun Communities by 1.2% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,321 shares of the real estate investment trust’s stock worth $829,000 after buying an additional 122 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Shares of Sun Communities, Inc. (NYSE SUI) opened at 88.13 on Tuesday. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 126.08 and a beta of 0.28. The company has a 50-day moving average price of $88.61 and a 200-day moving average price of $83.89. Sun Communities, Inc. has a 12 month low of $69.90 and a 12 month high of $91.37.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by $0.03. The firm had revenue of $237.90 million during the quarter, compared to the consensus estimate of $210.58 million. Sun Communities had a return on equity of 2.59% and a net margin of 6.82%. The firm’s revenue was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 EPS. Analysts forecast that Sun Communities, Inc. will post $0.99 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were issued a $0.67 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.68 annualized dividend and a yield of 3.04%. Sun Communities’s payout ratio is currently 382.86%.

COPYRIGHT VIOLATION NOTICE: “Sun Communities, Inc. (NYSE:SUI) Position Maintained by Norris Perne & French LLP MI” was posted by Daily Political and is owned by of Daily Political. If you are reading this article on another website, it was illegally copied and republished in violation of international trademark and copyright laws. The original version of this article can be read at https://www.dailypolitical.com/2017/08/08/sun-communities-inc-nysesui-position-maintained-by-norris-perne-french-llp-mi.html.

A number of equities research analysts have recently commented on the company. Zacks Investment Research lowered Sun Communities from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $92.00 price target on shares of Sun Communities in a research report on Sunday, July 16th. Finally, BidaskClub lowered Sun Communities from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $90.17.

In other Sun Communities news, COO John Bandini Mclaren sold 5,400 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $88.43, for a total value of $477,522.00. Following the transaction, the chief operating officer now owns 153,159 shares in the company, valued at $13,543,850.37. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.15% of the stock is currently owned by corporate insiders.

Sun Communities Company Profile

Sun Communities, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is a fully integrated real estate company, which, together with its affiliates and predecessors, has been in the business of acquiring, operating, developing, and expanding manufactured housing (MH) and recreational vehicle (RV).

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).

Institutional Ownership by Quarter for Sun Communities (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.