Shares of Sun Communities Inc (NYSE:SUI) reached a new 52-week high on Thursday . The company traded as high as $153.67 and last traded at $153.67, with a volume of 3435 shares trading hands. The stock had previously closed at $152.53.
SUI has been the subject of a number of analyst reports. ValuEngine downgraded Sun Communities from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research downgraded Sun Communities from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Finally, Wells Fargo & Co lifted their target price on Sun Communities from $118.00 to $137.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 18th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Sun Communities has an average rating of “Hold” and a consensus target price of $136.25.
The company has a 50 day moving average price of $148.82 and a 200 day moving average price of $133.29. The company has a market capitalization of $13.86 billion, a P/E ratio of 33.21, a P/E/G ratio of 5.17 and a beta of 0.22.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.00 annualized dividend and a dividend yield of 1.97%. Sun Communities’s dividend payout ratio is currently 65.50%.
In other news, COO John Bandini Mclaren sold 7,410 shares of Sun Communities stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $146.74, for a total transaction of $1,087,343.40. Following the completion of the transaction, the chief operating officer now directly owns 120,483 shares in the company, valued at approximately $17,679,675.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arthur A. Weiss sold 257 shares of Sun Communities stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $147.57, for a total value of $37,925.49. Following the transaction, the director now owns 29,156 shares of the company’s stock, valued at $4,302,550.92. The disclosure for this sale can be found here. Insiders have sold a total of 18,871 shares of company stock valued at $2,789,063 over the last quarter. 3.34% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Sun Communities in the 2nd quarter valued at $8,561,000. Toronto Dominion Bank bought a new stake in Sun Communities in the 2nd quarter valued at $2,823,000. Eii Capital Management Inc. boosted its stake in Sun Communities by 32.5% in the 2nd quarter. Eii Capital Management Inc. now owns 15,227 shares of the real estate investment trust’s stock valued at $1,952,000 after purchasing an additional 3,739 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Sun Communities by 14.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 141,980 shares of the real estate investment trust’s stock valued at $18,200,000 after purchasing an additional 17,720 shares during the period. Finally, Nicholas Investment Partners LP bought a new stake in Sun Communities in the 2nd quarter valued at $3,209,000. Institutional investors and hedge funds own 92.85% of the company’s stock.
About Sun Communities (NYSE:SUI)
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.
Read More: Trading Options- What is a Strangle?
Receive News & Ratings for Sun Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Communities and related companies with MarketBeat.com's FREE daily email newsletter.