Janney Montgomery Scott LLC raised its stake in Sun Communities, Inc. (NYSE:SUI) by 1.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 20,313 shares of the real estate investment trust’s stock after buying an additional 214 shares during the period. Janney Montgomery Scott LLC’s holdings in Sun Communities were worth $1,781,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Sun Communities by 3.1% in the first quarter. Vanguard Group Inc. now owns 10,521,072 shares of the real estate investment trust’s stock worth $845,157,000 after buying an additional 316,089 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Sun Communities by 3,458.3% in the first quarter. BlackRock Inc. now owns 4,678,657 shares of the real estate investment trust’s stock worth $375,838,000 after buying an additional 4,547,170 shares during the last quarter. Principal Financial Group Inc. boosted its position in Sun Communities by 3.7% in the first quarter. Principal Financial Group Inc. now owns 2,936,524 shares of the real estate investment trust’s stock valued at $235,758,000 after buying an additional 104,001 shares in the last quarter. State Street Corp boosted its position in Sun Communities by 1.8% in the first quarter. State Street Corp now owns 2,087,279 shares of the real estate investment trust’s stock valued at $167,665,000 after buying an additional 37,814 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Sun Communities by 4.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,103,607 shares of the real estate investment trust’s stock valued at $88,652,000 after buying an additional 50,998 shares in the last quarter. 89.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Sun Communities, Inc. (NYSE:SUI) traded down 1.05% during trading on Friday, reaching $88.78. 255,354 shares of the company were exchanged. The stock has a market capitalization of $7.01 billion, a PE ratio of 127.01 and a beta of 0.28. Sun Communities, Inc. has a one year low of $69.90 and a one year high of $91.37. The stock has a 50-day moving average price of $88.16 and a 200-day moving average price of $84.71.
Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.03. Sun Communities had a net margin of 6.82% and a return on equity of 2.59%. The firm had revenue of $237.90 million for the quarter, compared to the consensus estimate of $210.58 million. During the same quarter in the prior year, the company earned $0.85 earnings per share. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. Analysts forecast that Sun Communities, Inc. will post $0.99 EPS for the current year.
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A number of research analysts have issued reports on SUI shares. Zacks Investment Research upgraded shares of Sun Communities from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Friday, May 19th. Bank of America Corporation upgraded shares of Sun Communities from an “underperform” rating to a “buy” rating and set a $93.00 price target on the stock in a research report on Monday, May 22nd. Royal Bank Of Canada assumed coverage on shares of Sun Communities in a research report on Thursday, June 1st. They set an “outperform” rating and a $92.00 price target on the stock. Finally, BidaskClub upgraded shares of Sun Communities from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $90.17.
In other Sun Communities news, COO John Bandini Mclaren sold 5,400 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $88.43, for a total value of $477,522.00. Following the completion of the transaction, the chief operating officer now directly owns 153,159 shares in the company, valued at approximately $13,543,850.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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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