Clunet R. Lewis Sells 4,000 Shares of Sun Communities Inc (NYSE:SUI) Stock

Sun Communities Inc (NYSE:SUI) Director Clunet R. Lewis sold 4,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $144.50, for a total transaction of $578,000.00.

SUI stock traded down $0.20 during midday trading on Wednesday, hitting $144.46. 9,064 shares of the stock traded hands, compared to its average volume of 475,973. Sun Communities Inc has a 1-year low of $95.34 and a 1-year high of $173.98. The company has a debt-to-equity ratio of 0.75, a current ratio of 5.39 and a quick ratio of 5.39. The stock’s fifty day simple moving average is $139.39 and its 200-day simple moving average is $141.43. The firm has a market cap of $14.26 billion, a P/E ratio of 105.23, a PEG ratio of 4.30 and a beta of 0.52.

Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.57). Sun Communities had a return on equity of 3.93% and a net margin of 10.37%. The business had revenue of $303.27 million during the quarter, compared to analyst estimates of $311.24 million. On average, research analysts predict that Sun Communities Inc will post 4.93 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.19%. The ex-dividend date was Monday, June 29th. Sun Communities’s payout ratio is presently 64.23%.

A number of large investors have recently bought and sold shares of SUI. First Trust Advisors LP increased its stake in shares of Sun Communities by 29.6% during the first quarter. First Trust Advisors LP now owns 52,721 shares of the real estate investment trust’s stock worth $6,248,000 after purchasing an additional 12,047 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Sun Communities by 19.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,435 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 235 shares during the last quarter. Marshall Wace LLP purchased a new stake in Sun Communities during the 4th quarter worth approximately $165,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Sun Communities by 17.5% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,983 shares of the real estate investment trust’s stock worth $1,627,000 after buying an additional 1,636 shares in the last quarter. Finally, AXA raised its holdings in shares of Sun Communities by 8.7% during the fourth quarter. AXA now owns 24,057 shares of the real estate investment trust’s stock valued at $3,611,000 after acquiring an additional 1,931 shares during the last quarter. Institutional investors own 91.42% of the company’s stock.

A number of analysts have commented on the company. TheStreet raised Sun Communities from a “c+” rating to a “b-” rating in a research report on Friday, July 24th. Wells Fargo & Co cut their price target on shares of Sun Communities from $158.00 to $139.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Zacks Investment Research lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada upped their price objective on shares of Sun Communities from $147.00 to $151.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Citigroup boosted their target price on shares of Sun Communities from $140.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $153.20.

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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