Dynamic Technology Lab Private Ltd Takes Position in Sun Communities, Inc. (SUI)
Dynamic Technology Lab Private Ltd purchased a new stake in Sun Communities, Inc. (NYSE:SUI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,719 shares of the real estate investment trust’s stock, valued at approximately $676,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Thrivent Financial For Lutherans increased its holdings in shares of Sun Communities by 0.3% in the first quarter. Thrivent Financial For Lutherans now owns 60,971 shares of the real estate investment trust’s stock valued at $4,898,000 after buying an additional 200 shares in the last quarter. UBS Group AG increased its holdings in shares of Sun Communities by 29.5% in the first quarter. UBS Group AG now owns 66,239 shares of the real estate investment trust’s stock valued at $5,322,000 after buying an additional 15,087 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Sun Communities by 17.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 621,487 shares of the real estate investment trust’s stock valued at $54,499,000 after buying an additional 92,444 shares in the last quarter. Morgan Stanley increased its holdings in shares of Sun Communities by 18.3% in the first quarter. Morgan Stanley now owns 170,543 shares of the real estate investment trust’s stock valued at $13,699,000 after buying an additional 26,419 shares in the last quarter. Finally, Credit Suisse AG increased its holdings in shares of Sun Communities by 4.6% in the first quarter. Credit Suisse AG now owns 425,958 shares of the real estate investment trust’s stock valued at $34,218,000 after buying an additional 18,726 shares in the last quarter. 94.31% of the stock is currently owned by institutional investors.
Sun Communities, Inc. (NYSE SUI) opened at 88.81 on Thursday. Sun Communities, Inc. has a 52-week low of $69.90 and a 52-week high of $91.87. The stock has a market capitalization of $7.02 billion, a PE ratio of 127.05 and a beta of 0.30. The firm’s 50-day moving average is $88.21 and its 200 day moving average is $87.15.
Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.03). The firm had revenue of $237.90 million during the quarter, compared to analyst estimates of $210.58 million. Sun Communities had a return on equity of 2.59% and a net margin of 6.82%. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter last year, the business posted $0.85 earnings per share. On average, equities analysts forecast that Sun Communities, Inc. will post $0.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a $0.67 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.68 annualized dividend and a yield of 3.01%. Sun Communities’s dividend payout ratio (DPR) is presently 382.86%.
In other Sun Communities news, COO John Bandini Mclaren sold 5,400 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $88.43, for a total value of $477,522.00. Following the sale, the chief operating officer now directly owns 153,159 shares in the company, valued at $13,543,850.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jonathan Colman sold 3,000 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $85.44, for a total transaction of $256,320.00. Following the completion of the sale, the executive vice president now owns 33,985 shares in the company, valued at $2,903,678.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,984 shares of company stock worth $1,301,796. Company insiders own 4.15% of the company’s stock.
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Several research firms have issued reports on SUI. Zacks Investment Research cut Sun Communities from a “hold” rating to a “sell” rating in a report on Thursday. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $92.00 price target on shares of Sun Communities in a report on Sunday, July 16th. BMO Capital Markets began coverage on Sun Communities in a report on Monday, October 9th. They issued an “outperform” rating and a $96.00 price target on the stock. BidaskClub cut Sun Communities from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $95.00 price target on shares of Sun Communities in a report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $91.71.
About Sun Communities
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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