Connor Clark & Lunn Investment Management Ltd. Acquires New Holdings in Sun Communities Inc (SUI)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Sun Communities Inc (NYSE:SUI) in the second quarter, HoldingsChannel reports. The institutional investor acquired 11,500 shares of the real estate investment trust’s stock, valued at approximately $1,126,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new position in Sun Communities during the 4th quarter valued at about $209,000. Fort Washington Investment Advisors Inc. OH grew its holdings in Sun Communities by 124.0% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 5,600 shares of the real estate investment trust’s stock valued at $512,000 after purchasing an additional 3,100 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Sun Communities by 122.0% during the 1st quarter. Wells Fargo & Company MN now owns 514,864 shares of the real estate investment trust’s stock valued at $47,044,000 after purchasing an additional 282,940 shares during the last quarter. Dupont Capital Management Corp grew its holdings in Sun Communities by 73.1% during the 1st quarter. Dupont Capital Management Corp now owns 18,517 shares of the real estate investment trust’s stock valued at $1,692,000 after purchasing an additional 7,821 shares during the last quarter. Finally, American Assets Capital Advisers LLC grew its holdings in Sun Communities by 34.5% during the 1st quarter. American Assets Capital Advisers LLC now owns 198,300 shares of the real estate investment trust’s stock valued at $18,119,000 after purchasing an additional 50,900 shares during the last quarter. Institutional investors and hedge funds own 92.18% of the company’s stock.

Several equities analysts recently commented on the stock. Citigroup upped their price target on shares of Sun Communities from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Monday, July 30th. ValuEngine upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Robert W. Baird set a $97.00 price target on shares of Sun Communities and gave the company a “buy” rating in a report on Tuesday, April 24th. Zacks Investment Research downgraded shares of Sun Communities from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Finally, Wells Fargo & Co upped their price target on shares of Sun Communities from $94.00 to $99.00 and gave the company an “outperform” rating in a report on Tuesday, May 29th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $97.43.

Sun Communities stock opened at $102.12 on Friday. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 24.49, a P/E/G ratio of 3.93 and a beta of 0.15. Sun Communities Inc has a 1 year low of $80.12 and a 1 year high of $102.22.

Sun Communities (NYSE:SUI) last released its quarterly earnings data on Wednesday, July 25th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.03). The company had revenue of $271.43 million during the quarter, compared to analysts’ expectations of $235.02 million. Sun Communities had a net margin of 8.91% and a return on equity of 3.44%. Sun Communities’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm earned $0.96 earnings per share. equities research analysts anticipate that Sun Communities Inc will post 4.59 earnings per share for the current year.

In other Sun Communities news, COO John Bandini Mclaren sold 6,500 shares of the business’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $96.16, for a total value of $625,040.00. Following the completion of the sale, the chief operating officer now directly owns 162,294 shares of the company’s stock, valued at approximately $15,606,191.04. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.69% of the stock is owned by insiders.

Sun Communities Company Profile

Sun Communities, Inc is a REIT that, as of March 31, 2018, owned, operated, or had an interest in a portfolio of 350 communities comprising approximately 122,000 developed sites in 29 states and Ontario, Canada. For more information about Sun Communities, Inc, please visit www.suncommunities.com.

Read More: How are Outstanding Shares Different from Authorized Shares?

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

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