Manning & Napier Group LLC reduced its position in Sun Communities Inc (NYSE:SUI) by 4.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 80,040 shares of the real estate investment trust’s stock after selling 4,080 shares during the period. Manning & Napier Group LLC’s holdings in Sun Communities were worth $8,125,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Qube Research & Technologies Ltd purchased a new stake in shares of Sun Communities in the second quarter worth about $137,000. Ostrum Asset Management bought a new stake in Sun Communities during the first quarter worth approximately $147,000. Hartford Investment Management Co. bought a new stake in Sun Communities during the second quarter worth approximately $210,000. Alps Advisors Inc. bought a new stake in Sun Communities during the second quarter worth approximately $226,000. Finally, First Mercantile Trust Co. increased its stake in Sun Communities by 46.3% during the second quarter. First Mercantile Trust Co. now owns 2,400 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 760 shares during the last quarter. Institutional investors own 93.00% of the company’s stock.

Several brokerages have weighed in on SUI. Robert W. Baird boosted their price objective on Sun Communities from $102.00 to $106.00 and gave the stock an “outperform” rating in a research note on Monday, September 17th. Zacks Investment Research cut Sun Communities from a “buy” rating to a “hold” rating in a research note on Thursday, September 13th. BMO Capital Markets boosted their price objective on Sun Communities to $109.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 11th. Royal Bank of Canada boosted their price objective on Sun Communities to $105.00 and gave the stock an “above average” rating in a research note on Thursday, August 30th. They noted that the move was a valuation call. Finally, Wells Fargo & Co boosted their price objective on Sun Communities from $103.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, August 24th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Sun Communities currently has an average rating of “Buy” and an average target price of $103.86.

In other news, COO John Bandini Mclaren sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $96.16, for a total transaction of $625,040.00. Following the transaction, the chief operating officer now owns 162,294 shares of the company’s stock, valued at $15,606,191.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Clunet R. Lewis sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $99.95, for a total value of $119,940.00. Following the transaction, the director now directly owns 19,400 shares in the company, valued at approximately $1,939,030. The disclosure for this sale can be found here. Corporate insiders own 3.69% of the company’s stock.

Shares of NYSE SUI opened at $95.60 on Friday. Sun Communities Inc has a 1-year low of $80.12 and a 1-year high of $103.74. The company has a market cap of $8.25 billion, a price-to-earnings ratio of 22.93, a P/E/G ratio of 3.37 and a beta of 0.07.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, July 25th. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). Sun Communities had a return on equity of 3.44% and a net margin of 8.91%. The company had revenue of $271.43 million for the quarter, compared to the consensus estimate of $235.02 million. During the same period in the previous year, the firm earned $0.96 earnings per share. The company’s revenue was up 14.1% compared to the same quarter last year. On average, equities analysts predict that Sun Communities Inc will post 4.6 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.97%. Sun Communities’s dividend payout ratio is 68.11%.

Sun Communities Profile

Sun Communities, Inc is a REIT that, as of June 30, 2018, owned, operated, or had an interest in a portfolio of 367 communities comprising approximately 126,000 developed sites in 31 states and Ontario, Canada. For more information about Sun Communities, Inc, please visit www.suncommunities.com.

Featured Article: Why is the conference call important?

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