West Family Investments Inc. cut its stake in Sun Communities, Inc. (NYSE:SUI) by 95.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,702 shares of the real estate investment trust’s stock after selling 105,731 shares during the period. West Family Investments Inc.’s holdings in Sun Communities were worth $360,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in SUI. US Bancorp DE raised its stake in Sun Communities by 105.2% in the second quarter. US Bancorp DE now owns 1,473 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 755 shares during the last quarter. Public Employees Retirement Association of Colorado raised its stake in Sun Communities by 6.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,255 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 133 shares during the last quarter. Norris Perne & French LLP MI acquired a new stake in Sun Communities during the first quarter valued at about $201,000. Laurion Capital Management LP acquired a new stake in Sun Communities during the first quarter valued at about $201,000. Finally, Moody Aldrich Partners LLC acquired a new stake in Sun Communities during the second quarter valued at about $201,000. 89.21% of the stock is owned by institutional investors.
Sun Communities, Inc. (SUI) opened at 89.07 on Thursday. Sun Communities, Inc. has a 52 week low of $69.90 and a 52 week high of $91.37. The stock has a 50 day moving average of $88.07 and a 200 day moving average of $84.60. The stock has a market capitalization of $7.04 billion, a P/E ratio of 127.42 and a beta of 0.28.
Sun Communities (NYSE:SUI) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.03. Sun Communities had a return on equity of 2.59% and a net margin of 6.82%. The company had revenue of $237.90 million for the quarter, compared to the consensus estimate of $210.58 million. During the same period last year, the firm posted $0.85 EPS. The company’s revenue was up 24.7% compared to the same quarter last year. On average, equities research analysts predict that Sun Communities, Inc. will post $0.99 earnings per share for the current fiscal year.
SUI has been the subject of several recent research reports. Zacks Investment Research raised shares of Sun Communities from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research report on Saturday, June 17th. Bank of America Corporation raised shares of Sun Communities from an “underperform” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Monday, May 22nd. BidaskClub lowered shares of Sun Communities from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $92.00 price objective on shares of Sun Communities in a research report on Sunday, July 16th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Sun Communities presently has a consensus rating of “Hold” and a consensus target price of $90.17.
In related news, COO John Bandini Mclaren sold 5,400 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $88.43, for a total transaction of $477,522.00. Following the transaction, the chief operating officer now owns 153,159 shares of the company’s stock, valued at $13,543,850.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.15% of the company’s stock.
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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