Boston Private Wealth LLC Has $222,000 Stake in Sun Communities, Inc. (NYSE:SUI)

Boston Private Wealth LLC reduced its position in shares of Sun Communities, Inc. (NYSE:SUI) by 15.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,196 shares of the real estate investment trust’s stock after selling 212 shares during the quarter. Boston Private Wealth LLC’s holdings in Sun Communities were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. First Horizon Advisors Inc. increased its stake in shares of Sun Communities by 219.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 198 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 136 shares during the last quarter. Commerce Bank raised its stake in Sun Communities by 3.3% in the third quarter. Commerce Bank now owns 1,993 shares of the real estate investment trust’s stock valued at $369,000 after buying an additional 63 shares during the period. JustInvest LLC raised its stake in Sun Communities by 9.3% in the third quarter. JustInvest LLC now owns 4,675 shares of the real estate investment trust’s stock valued at $865,000 after buying an additional 399 shares during the period. Congress Asset Management Co. MA lifted its position in shares of Sun Communities by 2.0% in the third quarter. Congress Asset Management Co. MA now owns 650,285 shares of the real estate investment trust’s stock valued at $120,368,000 after buying an additional 13,017 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Sun Communities by 0.7% during the 3rd quarter. Swiss National Bank now owns 442,067 shares of the real estate investment trust’s stock worth $81,827,000 after acquiring an additional 3,100 shares during the last quarter. Hedge funds and other institutional investors own 92.86% of the company’s stock.

Sun Communities stock opened at $197.85 on Friday. The firm has a market cap of $22.94 billion, a PE ratio of 60.32, a price-to-earnings-growth ratio of 2.18 and a beta of 0.64. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.16 and a quick ratio of 2.16. The stock’s fifty day moving average price is $198.98 and its two-hundred day moving average price is $194.86. Sun Communities, Inc. has a one year low of $137.43 and a one year high of $211.79.

Sun Communities (NYSE:SUI) last released its earnings results on Sunday, October 24th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.99. Sun Communities had a return on equity of 5.76% and a net margin of 17.73%. During the same quarter last year, the company posted $1.60 EPS. Sell-side analysts expect that Sun Communities, Inc. will post 6.47 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 18th. Shareholders of record on Friday, December 31st will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 1.68%. The ex-dividend date is Thursday, December 30th. Sun Communities’s dividend payout ratio is currently 101.22%.

SUI has been the subject of a number of research analyst reports. Citigroup initiated coverage on shares of Sun Communities in a research report on Tuesday, November 30th. They set a “buy” rating and a $224.00 price objective for the company. BMO Capital Markets started coverage on Sun Communities in a report on Wednesday, November 17th. They set a “buy” rating and a $224.00 price objective for the company. Zacks Investment Research downgraded Sun Communities from a “buy” rating to a “hold” rating in a research report on Friday, January 7th. Finally, Royal Bank of Canada upped their price objective on Sun Communities from $216.00 to $227.00 and gave the company an “outperform” rating in a report on Wednesday, November 17th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $207.00.

Sun Communities Profile

Sun Communities, Inc provides real estate management services. The firm operates through the following segments: Real Property Operations and Home Sales and Rentals. The Real Property Operations segment owns, operates, and develops manufacture housing communities and recreational vehicle communities throughout the United States and is in the business of acquiring, operating, and expanding manufactured housing and recreational vehicle communities.

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

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