Sun Communities, Inc. (NYSE:SUI) Shares Bought by Millennium Management LLC

Millennium Management LLC grew its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 219.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 809,559 shares of the real estate investment trust’s stock after purchasing an additional 556,237 shares during the period. Millennium Management LLC’s holdings in Sun Communities were worth $121,466,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SUI. Cohen & Steers Inc. grew its position in shares of Sun Communities by 35.0% during the first quarter. Cohen & Steers Inc. now owns 9,236,715 shares of the real estate investment trust’s stock worth $1,385,873,000 after acquiring an additional 2,392,635 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Sun Communities by 185.3% during the fourth quarter. JPMorgan Chase & Co. now owns 2,582,446 shares of the real estate investment trust’s stock worth $392,402,000 after acquiring an additional 1,677,154 shares during the last quarter. Norges Bank bought a new position in shares of Sun Communities during the fourth quarter worth about $152,726,000. Principal Financial Group Inc. grew its position in shares of Sun Communities by 16.1% during the first quarter. Principal Financial Group Inc. now owns 4,159,723 shares of the real estate investment trust’s stock worth $624,124,000 after acquiring an additional 577,303 shares during the last quarter. Finally, Centersquare Investment Management LLC grew its position in shares of Sun Communities by 49.8% during the first quarter. Centersquare Investment Management LLC now owns 1,466,049 shares of the real estate investment trust’s stock worth $219,965,000 after acquiring an additional 487,316 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors.

SUI traded up $0.87 on Thursday, reaching $187.46. The company had a trading volume of 12,237 shares, compared to its average volume of 484,270. The firm has a fifty day moving average of $173.29. The stock has a market cap of $20.96 billion, a P/E ratio of 107.40, a P/E/G ratio of 3.69 and a beta of 0.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.10 and a quick ratio of 3.10. Sun Communities, Inc. has a one year low of $135.01 and a one year high of $189.06.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Sunday, April 25th. The real estate investment trust reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Sun Communities had a net margin of 11.27% and a return on equity of 3.30%. The company had revenue of $442.00 million during the quarter, compared to analyst estimates of $315.24 million. During the same quarter last year, the firm posted $1.22 EPS. The business’s revenue for the quarter was up 42.4% on a year-over-year basis. Sell-side analysts forecast that Sun Communities, Inc. will post 6.02 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 15th. Stockholders of record on Wednesday, June 30th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Tuesday, June 29th. This represents a $3.32 annualized dividend and a dividend yield of 1.77%. Sun Communities’s dividend payout ratio (DPR) is 65.23%.

In other Sun Communities news, CFO Karen Dearing sold 14,899 shares of the company’s stock in a transaction dated Thursday, May 20th. The shares were sold at an average price of $165.00, for a total transaction of $2,458,335.00. Also, Director Stephanie W. Bergeron sold 2,800 shares of the company’s stock in a transaction dated Tuesday, May 4th. The shares were sold at an average price of $165.60, for a total transaction of $463,680.00. Following the sale, the director now directly owns 22,400 shares of the company’s stock, valued at $3,709,440. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,121 shares of company stock valued at $8,356,915. Insiders own 2.72% of the company’s stock.

SUI has been the subject of several recent research reports. Zacks Investment Research lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company upped their price target on shares of Sun Communities from $153.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 25th. They noted that the move was a valuation call. UBS Group assumed coverage on shares of Sun Communities in a research report on Thursday, June 3rd. They issued a “buy” rating and a $190.00 target price for the company. Finally, Royal Bank of Canada increased their target price on shares of Sun Communities from $162.00 to $171.00 and gave the company an “outperform” rating in a research report on Wednesday, April 28th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Sun Communities currently has an average rating of “Buy” and a consensus target price of $172.50.

Sun Communities Profile

Sun Communities, Inc provides real estate management services. The firm operates through the following segments: Real Property Operations and Home Sales and Rentals. The Real Property Operations segment owns, operates, and develops manufacture housing communities and recreational vehicle communities throughout the United States and is in the business of acquiring, operating, and expanding manufactured housing and recreational vehicle communities.

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

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