Sun Communities Inc (NYSE:SUI) Stake Raised by Eii Capital Management Inc.

Eii Capital Management Inc. grew its holdings in shares of Sun Communities Inc (NYSE:SUI) by 32.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,227 shares of the real estate investment trust’s stock after buying an additional 3,739 shares during the period. Eii Capital Management Inc.’s holdings in Sun Communities were worth $1,952,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Penserra Capital Management LLC acquired a new position in shares of Sun Communities during the first quarter valued at approximately $58,000. Optimum Investment Advisors increased its stake in shares of Sun Communities by 14.8% during the first quarter. Optimum Investment Advisors now owns 775 shares of the real estate investment trust’s stock valued at $92,000 after acquiring an additional 100 shares during the period. Executive Wealth Management LLC acquired a new position in shares of Sun Communities during the fourth quarter valued at approximately $102,000. Quadrant Capital Group LLC increased its stake in shares of Sun Communities by 43.2% during the first quarter. Quadrant Capital Group LLC now owns 1,200 shares of the real estate investment trust’s stock valued at $137,000 after acquiring an additional 362 shares during the period. Finally, Hanseatic Management Services Inc. acquired a new position in shares of Sun Communities during the first quarter valued at approximately $149,000. 88.75% of the stock is currently owned by institutional investors.

Sun Communities stock traded up $1.51 during mid-day trading on Tuesday, hitting $132.54. The company’s stock had a trading volume of 490,300 shares, compared to its average volume of 468,774. The firm has a market capitalization of $11.84 billion, a PE ratio of 28.94, a P/E/G ratio of 4.44 and a beta of 0.26. Sun Communities Inc has a twelve month low of $94.63 and a twelve month high of $136.64. The firm’s fifty day simple moving average is $130.72.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.06. The firm had revenue of $287.33 million for the quarter, compared to analyst estimates of $279.54 million. Sun Communities had a net margin of 10.00% and a return on equity of 3.76%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 earnings per share. As a group, equities analysts anticipate that Sun Communities Inc will post 4.85 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.75 dividend. The ex-dividend date was Thursday, June 27th. This represents a $3.00 annualized dividend and a yield of 2.26%. Sun Communities’s dividend payout ratio (DPR) is 65.50%.

A number of research analysts recently commented on the stock. BMO Capital Markets set a C$106.00 price objective on shares of FirstService and gave the company a “market perform” rating in a research note on Monday, June 3rd. Wells Fargo & Co reiterated a “sell” rating on shares of American States Water in a research note on Tuesday, March 26th. Finally, Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Wednesday, June 5th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Sun Communities has an average rating of “Hold” and a consensus price target of $118.67.

About Sun Communities

Sun Communities, Inc is a REIT that, as of March 31, 2019, owned, operated, or had an interest in a portfolio of 379 communities comprising over 132,000 developed sites in 31 states and Ontario, Canada.

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

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