Sun Communities (NYSE:SUI) Sets New 52-Week High at $154.02

Sun Communities Inc (NYSE:SUI)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $154.02 and last traded at $153.65, with a volume of 18524 shares trading hands. The stock had previously closed at $153.00.

SUI has been the topic of a number of research analyst reports. Zacks Investment Research lowered Sun Communities from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. ValuEngine lowered Sun Communities from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Co upped 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 analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $136.25.

The firm has a market capitalization of $13.84 billion, a P/E ratio of 33.47, a price-to-earnings-growth ratio of 5.18 and a beta of 0.22. The business has a 50 day simple moving average of $149.35 and a two-hundred day simple moving average of $134.31.

Sun Communities (NYSE:SUI) last announced its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.67). The business had revenue of $312.45 million during the quarter, compared to the consensus estimate of $295.20 million. Sun Communities had a return on equity of 4.01% and a net margin of 11.05%. Sun Communities’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.07 earnings per share. On average, analysts predict that Sun Communities Inc will post 4.88 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.75 dividend. The ex-dividend date was Friday, September 27th. This represents a $3.00 dividend on an annualized basis and a yield of 1.96%. Sun Communities’s dividend payout ratio is currently 65.50%.

In other news, Director Arthur A. Weiss sold 257 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $147.57, for a total transaction of $37,925.49. Following the transaction, the director now directly owns 29,156 shares in the company, valued at approximately $4,302,550.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John Bandini Mclaren sold 7,410 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $146.74, for a total value of $1,087,343.40. Following the transaction, the chief operating officer now owns 120,483 shares in the company, valued at $17,679,675.42. The disclosure for this sale can be found here. Insiders sold a total of 18,871 shares of company stock worth $2,789,063 over the last 90 days. Corporate insiders own 3.34% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Sun Communities by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 12,548,952 shares of the real estate investment trust’s stock valued at $1,608,650,000 after purchasing an additional 317,684 shares during the last quarter. BlackRock Inc. increased its position in shares of Sun Communities by 6.3% during the 2nd quarter. BlackRock Inc. now owns 7,433,229 shares of the real estate investment trust’s stock valued at $952,867,000 after purchasing an additional 438,673 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Sun Communities by 557.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,170,073 shares of the real estate investment trust’s stock valued at $278,181,000 after purchasing an additional 1,839,980 shares during the last quarter. Invesco Ltd. increased its position in shares of Sun Communities by 6.9% during the 2nd quarter. Invesco Ltd. now owns 1,602,305 shares of the real estate investment trust’s stock valued at $205,400,000 after purchasing an additional 103,473 shares during the last quarter. Finally, PGGM Investments increased its position in shares of Sun Communities by 91.1% during the 3rd quarter. PGGM Investments now owns 1,370,483 shares of the real estate investment trust’s stock valued at $203,448,000 after purchasing an additional 653,483 shares during the last quarter. Hedge funds and other institutional investors own 92.84% of the company’s stock.

Sun Communities Company Profile (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.

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