Solaris Asset Management LLC Has $601,000 Position in Sun Communities, Inc. (SUI)
Solaris Asset Management LLC increased its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,851 shares of the real estate investment trust’s stock after buying an additional 100 shares during the period. Solaris Asset Management LLC’s holdings in Sun Communities were worth $601,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Comerica Bank increased its position in shares of Sun Communities by 0.6% in the first quarter. Comerica Bank now owns 3,117 shares of the real estate investment trust’s stock valued at $263,000 after buying an additional 19 shares during the period. 1st Global Advisors Inc. increased its position in shares of 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 valued at $583,000 after buying an additional 53 shares during the period. Wagner Bowman Management Corp increased its position in shares of 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 valued at $1,097,000 after buying an additional 84 shares during the period. NGAM Advisors L.P. increased its position in shares of 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 valued at $1,715,000 after buying an additional 119 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of 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 valued at $829,000 after buying an additional 122 shares during the period. Institutional investors own 88.40% of the company’s stock.
Sun Communities, Inc. (SUI) opened at 87.89 on Wednesday. The company has a market capitalization of $6.94 billion, a PE ratio of 125.74 and a beta of 0.28. Sun Communities, Inc. has a 12 month low of $69.90 and a 12 month high of $91.37. The company has a 50-day moving average price of $88.54 and a 200 day moving average price of $83.99.
Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by $0.03. The company had revenue of $237.90 million for the quarter, compared to the consensus estimate of $210.58 million. Sun Communities had a net margin of 6.82% and a return on equity of 2.59%. The business’s revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 earnings per share. On average, equities research analysts forecast that Sun Communities, Inc. will post $0.99 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a dividend of $0.67 per share. The ex-dividend date was Wednesday, June 28th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.05%. Sun Communities’s payout ratio is 382.86%.
Several brokerages have commented on SUI. Zacks Investment Research downgraded Sun Communities from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Royal Bank Of Canada reissued a “buy” rating and issued a $92.00 price objective on shares of Sun Communities in a research report on Sunday, July 16th. Finally, BidaskClub cut Sun Communities from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $90.17.
In other news, COO John Bandini Mclaren sold 5,400 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $88.43, for a total transaction of $477,522.00. Following the completion of the sale, the chief operating officer now directly owns 153,159 shares in the company, valued at approximately $13,543,850.37. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.15% of the company’s stock.
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).
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