AQR Capital Management LLC lowered its stake in Sun Communities Inc (NYSE:SUI) by 30.2% during the first quarter, Holdings Channel.com reports. The fund owned 25,453 shares of the real estate investment trust’s stock after selling 11,000 shares during the period. AQR Capital Management LLC’s holdings in Sun Communities were worth $3,178,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in Sun Communities during the fourth quarter worth about $2,814,000. Piedmont Investment Advisors Inc. grew its holdings in Sun Communities by 5.0% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 1,729 shares of the real estate investment trust’s stock worth $260,000 after purchasing an additional 82 shares during the period. Raymond James Trust N.A. grew its holdings in Sun Communities by 4.9% during the first quarter. Raymond James Trust N.A. now owns 1,759 shares of the real estate investment trust’s stock worth $219,000 after purchasing an additional 82 shares during the period. Wetherby Asset Management Inc. grew its holdings in Sun Communities by 2.4% during the first quarter. Wetherby Asset Management Inc. now owns 3,832 shares of the real estate investment trust’s stock worth $479,000 after purchasing an additional 89 shares during the period. Finally, Penn Capital Management Co. Inc. grew its holdings in Sun Communities by 0.6% during the fourth quarter. Penn Capital Management Co. Inc. now owns 16,458 shares of the real estate investment trust’s stock worth $2,470,000 after purchasing an additional 93 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:SUI opened at $135.99 on Tuesday. Sun Communities Inc has a 12-month low of $95.34 and a 12-month high of $173.98. The stock has a market cap of $12.54 billion, a PE ratio of 110.56, a P/E/G ratio of 3.64 and a beta of 0.52. The business has a 50 day moving average of $136.96 and a 200-day moving average of $143.16. The company has a quick ratio of 5.76, a current ratio of 5.76 and a debt-to-equity ratio of 1.01.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.37). Sun Communities had a return on equity of 3.67% and a net margin of 8.89%. The firm had revenue of $310.30 million for the quarter, compared to the consensus estimate of $294.10 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The company’s revenue was up 8.0% on a year-over-year basis. Equities research analysts expect that Sun Communities Inc will post 4.99 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, June 29th. Sun Communities’s dividend payout ratio (DPR) is currently 64.23%.

A number of equities analysts recently commented on SUI shares. Citigroup lifted their price target on Sun Communities from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Wells Fargo & Co reduced their price target on Sun Communities from $158.00 to $139.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Zacks Investment Research upgraded Sun Communities from a “sell” rating to a “hold” rating in a report on Thursday, March 12th. Finally, Evercore ISI upgraded Sun Communities from an “in-line” rating to an “outperform” rating in a report on Monday, March 30th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $155.00.

In related news, Director Clunet R. Lewis sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $143.50, for a total value of $574,000.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at $2,870,000. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.72% of the company’s stock.

Sun Communities Company Profile

Sun Communities, Inc is a REIT that, as of March 31, 2019, owned, operated, or had an interest in a portfolio of 379 communities comprising over 132,000 developed sites in 31 states and Ontario, Canada.

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Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

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