Sun Communities Inc (NYSE:SUI) Director Arthur A. Weiss sold 257 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $147.57, for a total value of $37,925.49. Following the completion of the transaction, the director now owns 29,156 shares in the company, valued at $4,302,550.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
SUI stock opened at $145.66 on Friday. The firm has a market capitalization of $12.73 billion, a PE ratio of 31.80, a PEG ratio of 5.06 and a beta of 0.24. The stock has a 50-day simple moving average of $142.78 and a two-hundred day simple moving average of $128.54. Sun Communities Inc has a twelve month low of $94.63 and a twelve month high of $151.64.
Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.67). The business had revenue of $312.45 million for the quarter, compared to the consensus estimate of $295.20 million. Sun Communities had a net margin of 11.05% and a return on equity of 4.01%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. As a group, sell-side analysts expect that Sun Communities Inc will post 4.88 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.00 annualized dividend and a yield of 2.06%. Sun Communities’s payout ratio is currently 65.50%.
Several equities analysts have weighed in on SUI shares. Zacks Investment Research cut Sun Communities from a “buy” rating to a “hold” rating in a research note on Friday. BMO Capital Markets lifted their target price on Sun Communities to $132.00 and gave the stock an “outperform” rating in a research note on Monday, June 3rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $124.60.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Sun Communities by 2.6% during the second 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 buying an additional 317,684 shares during the period. BlackRock Inc. increased its stake in shares of Sun Communities by 6.3% during the second quarter. BlackRock Inc. now owns 7,433,229 shares of the real estate investment trust’s stock valued at $952,867,000 after buying an additional 438,673 shares during the period. Principal Financial Group Inc. increased its stake in shares of Sun Communities by 9.0% during the first quarter. Principal Financial Group Inc. now owns 2,981,926 shares of the real estate investment trust’s stock valued at $353,418,000 after buying an additional 246,452 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Sun Communities by 557.4% during the second 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 buying an additional 1,839,980 shares during the period. Finally, Centersquare Investment Management LLC grew its stake in Sun Communities by 8.0% in the first quarter. Centersquare Investment Management LLC now owns 1,783,705 shares of the real estate investment trust’s stock worth $211,405,000 after purchasing an additional 131,382 shares during the period. Hedge funds and other institutional investors own 92.81% of the company’s stock.
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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