Telemus Capital LLC raised its holdings in Sun Communities Inc (NYSE:SUI) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,335 shares of the real estate investment trust’s stock after acquiring an additional 348 shares during the period. Telemus Capital LLC’s holdings in Sun Communities were worth $951,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in SUI. Keybank National Association OH acquired a new stake in shares of Sun Communities during the 3rd quarter worth approximately $453,000. Commonwealth Equity Services LLC increased its holdings in shares of Sun Communities by 5.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 13,592 shares of the real estate investment trust’s stock worth $2,017,000 after buying an additional 715 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Sun Communities during the 3rd quarter worth approximately $1,060,000. State Street Corp increased its holdings in shares of Sun Communities by 5.9% during the 3rd quarter. State Street Corp now owns 4,506,293 shares of the real estate investment trust’s stock worth $672,284,000 after buying an additional 251,444 shares during the last quarter. Finally, Voya Financial Advisors Inc. increased its holdings in shares of Sun Communities by 2.6% during the 3rd quarter. Voya Financial Advisors Inc. now owns 2,873 shares of the real estate investment trust’s stock worth $426,000 after buying an additional 73 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.
In related news, Director Brian M. Hermelin bought 1,010 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average price of $148.48 per share, for a total transaction of $149,964.80. Following the acquisition, the director now owns 15,000 shares of the company’s stock, valued at $2,227,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gary A. Shiffman sold 115,000 shares of Sun Communities stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $159.00, for a total transaction of $18,285,000.00. 3.34% of the stock is currently owned by company insiders.
Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.05). Sun Communities had a net margin of 11.62% and a return on equity of 4.25%. The company had revenue of $362.44 million during the quarter, compared to analyst estimates of $321.14 million. During the same quarter last year, the business posted $1.35 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, research analysts predict that Sun Communities Inc will post 4.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.75 dividend. The ex-dividend date was Monday, December 30th. This represents a $3.00 annualized dividend and a yield of 1.90%. Sun Communities’s dividend payout ratio (DPR) is presently 65.50%.
A number of analysts have recently issued reports on SUI shares. Zacks Investment Research downgraded shares of Sun Communities from a “buy” rating to a “hold” rating in a report on Tuesday, December 31st. ValuEngine downgraded shares of Sun Communities from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd.
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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