Ranger Global Real Estate Advisors LLC lifted its position in Sun Communities, Inc. (NYSE:SUI) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,030 shares of the real estate investment trust’s stock after buying an additional 1,557 shares during the quarter. Sun Communities makes up approximately 3.7% of Ranger Global Real Estate Advisors LLC’s portfolio, making the stock its 13th biggest holding. Ranger Global Real Estate Advisors LLC owned approximately 0.13% of Sun Communities worth $8,913,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in SUI. Bank of New York Mellon Corp lifted its holdings in shares of Sun Communities by 303.3% in the second quarter. Bank of New York Mellon Corp now owns 1,532,663 shares of the real estate investment trust’s stock worth $134,399,000 after buying an additional 1,152,596 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Sun Communities by 9.4% in the second quarter. Vanguard Group Inc. now owns 11,504,907 shares of the real estate investment trust’s stock worth $1,008,865,000 after buying an additional 983,835 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Sun Communities in the second quarter worth about $70,725,000. Renaissance Technologies LLC lifted its holdings in shares of Sun Communities by 305.2% in the second quarter. Renaissance Technologies LLC now owns 676,700 shares of the real estate investment trust’s stock worth $59,340,000 after buying an additional 509,700 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Sun Communities by 9.7% in the second quarter. BlackRock Inc. now owns 5,132,844 shares of the real estate investment trust’s stock worth $450,100,000 after buying an additional 454,187 shares in the last quarter. 94.57% of the stock is currently owned by hedge funds and other institutional investors.
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A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Sun Communities from a “sell” rating to a “hold” rating in a report on Thursday. BMO Capital Markets reissued a “buy” rating and issued a $96.00 price target on shares of Sun Communities in a report on Monday, October 23rd. Royal Bank Of Canada reissued a “buy” rating and issued a $92.00 price target on shares of Sun Communities in a report on Sunday, July 16th. BidaskClub downgraded shares of Sun Communities from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Robert W. Baird reissued a “buy” rating and issued a $95.00 price target on shares of Sun Communities in a report on Friday, September 8th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $92.29.
Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.79. The business had revenue of $268.20 million for the quarter, compared to analysts’ expectations of $239.45 million. Sun Communities had a return on equity of 2.76% and a net margin of 7.37%. During the same period in the prior year, the firm earned $1.13 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.68 annualized dividend and a dividend yield of 2.97%. Sun Communities’s dividend payout ratio (DPR) is 362.16%.
In other news, Director Clunet R. Lewis sold 5,292 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $86.20, for a total transaction of $456,170.40. Following the sale, the director now directly owns 18,800 shares of the company’s stock, valued at approximately $1,620,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Clunet R. Lewis sold 1,292 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $86.52, for a total value of $111,783.84. Following the sale, the director now directly owns 18,800 shares in the company, valued at $1,626,576. The disclosure for this sale can be found here. Insiders have sold a total of 9,584 shares of company stock worth $824,274 over the last ninety days. Insiders own 4.15% of the company’s stock.
Sun Communities Profile
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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