Sun Communities, Inc. (SUI) Stake Lessened by Macquarie Group Ltd.

Macquarie Group Ltd. lowered its position in Sun Communities, Inc. (NYSE:SUI) by 15.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 28,800 shares of the real estate investment trust’s stock after selling 5,113 shares during the period. Macquarie Group Ltd.’s holdings in Sun Communities were worth $2,467,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. US Bancorp DE increased its stake in shares of Sun Communities by 105.2% in the 2nd quarter. US Bancorp DE now owns 1,473 shares of the real estate investment trust’s stock valued at $129,000 after acquiring an additional 755 shares in the last quarter. Whitnell & Co. bought a new stake in shares of Sun Communities in the 3rd quarter valued at $139,000. Public Employees Retirement Association of Colorado increased its stake in shares of Sun Communities by 6.3% in the 2nd 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 acquiring an additional 133 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Sun Communities by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,299 shares of the real estate investment trust’s stock valued at $202,000 after acquiring an additional 178 shares in the last quarter. Finally, Raymond James Trust N.A. bought a new stake in shares of Sun Communities in the 2nd quarter valued at $224,000. Hedge funds and other institutional investors own 93.62% of the company’s stock.

Several research firms have recently weighed in on SUI. Evercore ISI upgraded shares of Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 price objective for the company in a research note on Monday. Zacks Investment Research upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. BMO Capital Markets reiterated a “buy” rating and issued a $96.00 price objective on shares of Sun Communities in a research note on Monday, October 23rd. ValuEngine upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $95.00 price objective on shares of Sun Communities in a research note on Friday, September 8th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Sun Communities currently has an average rating of “Buy” and a consensus target price of $92.29.

Shares of Sun Communities, Inc. (SUI) traded up $1.29 during mid-day trading on Tuesday, reaching $95.02. 346,400 shares of the company’s stock were exchanged, compared to its average volume of 357,756. The company has a market cap of $7,436.78, a price-to-earnings ratio of 22.86, a PEG ratio of 3.58 and a beta of 0.27. Sun Communities, Inc. has a fifty-two week low of $71.27 and a fifty-two week high of $95.44.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.79. The business had revenue of $268.20 million during the quarter, compared to analyst estimates of $239.45 million. Sun Communities had a net margin of 7.37% and a return on equity of 2.76%. During the same quarter in the previous year, the business posted $1.13 EPS. analysts forecast that Sun Communities, Inc. will post 4.16 EPS for the current fiscal year.

In other Sun Communities news, EVP Jonathan Colman sold 2,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $93.21, for a total transaction of $186,420.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Clunet R. Lewis sold 1,292 shares of the business’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $86.52, for a total transaction of $111,783.84. Following the sale, the director now owns 18,800 shares of the company’s stock, valued at approximately $1,626,576. The disclosure for this sale can be found here. Insiders have sold a total of 11,584 shares of company stock valued at $1,010,694 in the last 90 days. 4.15% of the stock is currently owned by company insiders.

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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).

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

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