Dimensional Fund Advisors LP Increases Holdings in Sun Communities Inc (SUI)

Dimensional Fund Advisors LP lifted its holdings in Sun Communities Inc (NYSE:SUI) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,019,268 shares of the real estate investment trust’s stock after purchasing an additional 25,291 shares during the quarter. Dimensional Fund Advisors LP owned 1.28% of Sun Communities worth $87,330,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SUI. Whitnell & Co. acquired a new position in Sun Communities during the third quarter worth $139,000. Nationwide Fund Advisors increased its holdings in Sun Communities by 18.4% during the second quarter. Nationwide Fund Advisors now owns 13,635 shares of the real estate investment trust’s stock worth $1,196,000 after buying an additional 2,122 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Sun Communities by 17.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 621,487 shares of the real estate investment trust’s stock worth $54,499,000 after buying an additional 92,444 shares during the last quarter. BlackRock Inc. increased its holdings in Sun Communities by 9.7% during 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 during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Sun Communities by 70.7% during the second quarter. Goldman Sachs Group Inc. now owns 589,768 shares of the real estate investment trust’s stock worth $51,717,000 after buying an additional 244,273 shares during the last quarter. 93.58% of the stock is currently owned by institutional investors and hedge funds.

In other Sun Communities news, Director Clunet R. Lewis sold 5,292 shares of the company’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $86.20, for a total value of $456,170.40. Following the transaction, the director now directly owns 18,800 shares in the company, valued at $1,620,560. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jonathan Colman sold 3,000 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $85.44, for a total transaction of $256,320.00. Following the completion of the transaction, the executive vice president now owns 33,985 shares in the company, valued at $2,903,678.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,584 shares of company stock worth $1,010,694. Corporate insiders own 4.15% of the company’s stock.

A number of equities analysts recently weighed in on SUI shares. BMO Capital Markets started coverage on shares of Sun Communities in a report on Monday, October 9th. They set an “outperform” rating and a $96.00 target price on the stock. 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 report on Friday, September 29th. ValuEngine upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Evercore ISI upgraded shares of Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 target price on the stock in a report on Monday, December 4th. Finally, Royal Bank of Canada boosted their target price on shares of Sun Communities from $95.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Sun Communities has a consensus rating of “Buy” and an average target price of $93.00.

Sun Communities Inc (NYSE:SUI) opened at $92.02 on Friday. Sun Communities Inc has a fifty-two week low of $73.76 and a fifty-two week high of $96.08. The company has a market cap of $7,270.16, a price-to-earnings ratio of 124.35, a price-to-earnings-growth ratio of 3.50 and a beta of 0.27.

Sun Communities (NYSE:SUI) last released its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.79. Sun Communities had a net margin of 7.37% and a return on equity of 2.76%. The firm had revenue of $268.20 million for the quarter, compared to the consensus estimate of $239.45 million. During the same period in the previous year, the company earned $1.13 earnings per share. equities research analysts expect that Sun Communities Inc will post 4.16 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.68 annualized dividend and a dividend yield of 2.91%. Sun Communities’s dividend payout ratio is currently 362.16%.

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

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