Sun Communities, Inc. $SUI Stock Position Cut by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its position in Sun Communities, Inc. (NYSE:SUI) by 14.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,868 shares of the real estate investment trust’s stock after selling 4,704 shares during the period. Illinois Municipal Retirement Fund’s holdings in Sun Communities were worth $3,198,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Sun Communities during the second quarter valued at approximately $1,649,715,000. Dimensional Fund Advisors LP boosted its stake in shares of Sun Communities by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,812,301 shares of the real estate investment trust’s stock worth $228,280,000 after acquiring an additional 51,588 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Sun Communities by 2.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,536,249 shares of the real estate investment trust’s stock worth $184,212,000 after acquiring an additional 31,497 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Sun Communities during the 2nd quarter worth $156,841,000. Finally, Legal & General Group Plc acquired a new stake in Sun Communities during the 2nd quarter worth $122,737,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Evercore reiterated an “outperform” rating on shares of Sun Communities in a research report on Wednesday, October 28th. Bank of America raised shares of Sun Communities from an “underperform” rating to a “neutral” rating and set a $140.00 price target on the stock in a research note on Thursday, August 27th. Citigroup restated a “market outperform” rating on shares of Sun Communities in a research report on Tuesday, November 3rd. Wells Fargo & Company dropped their price objective on shares of Sun Communities from $141.00 to $136.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Finally, Royal Bank Of Canada cut their price objective on shares of Sun Communities from $148.00 to $140.00 and set an “outperform” rating for the company in a report on Tuesday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sun Communities has an average rating of “Moderate Buy” and an average target price of $135.65.

Sun Communities Trading Up 1.0%

NYSE:SUI traded up $1.19 during trading hours on Friday, hitting $118.60. The company had a trading volume of 645,892 shares, compared to its average volume of 1,346,583. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average of $115.43 and a 200 day moving average of $123.10. The company has a market cap of $14.16 billion, a P/E ratio of -19.25, a P/E/G ratio of 5.95 and a beta of 0.75. Sun Communities, Inc. has a 1 year low of $109.77 and a 1 year high of $137.85.

Sun Communities (NYSE:SUI) last issued its earnings results on Monday, October 26th. The real estate investment trust reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Sun Communities had a positive return on equity of 5.02% and a negative net margin of 36.00%. The business had revenue of $558.20 million during the quarter, compared to the consensus estimate of $563.59 million. During the same period last year, the company earned $2.28 EPS. The company’s revenue for the quarter was up .4% on a year-over-year basis. Sell-side analysts expect that Sun Communities, Inc. will post 7.03 earnings per share for the current year.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a $1.12 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.8%. Sun Communities’s dividend payout ratio is currently -72.73%.

Sun Communities Company Profile

Sun Communities, Inc. is a real estate investment trust that owns and operates manufactured housing communities, recreational vehicle (RV) communities and resorts, and marinas. Its properties serve long-term residents as well as vacationers and boaters, with offerings that include home sites, RV accommodations, boat slips and related amenities. Founded in 1975, the company has expanded beyond its original manufactured housing business through acquisitions and development. Its portfolio spans the United States, Canada and the United Kingdom.