Comerica Bank decreased its position in Sun Communities Inc (NYSE:SUI) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,104 shares of the real estate investment trust’s stock after selling 575 shares during the quarter. Comerica Bank’s holdings in Sun Communities were worth $2,296,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Stevens Capital Management LP acquired a new position in shares of Sun Communities in the fourth quarter valued at approximately $2,163,000. Employees Retirement System of Texas grew its position in shares of Sun Communities by 15.1% in the fourth quarter. Employees Retirement System of Texas now owns 61,000 shares of the real estate investment trust’s stock valued at $6,204,000 after purchasing an additional 8,000 shares during the last quarter. Stifel Financial Corp grew its position in shares of Sun Communities by 19.6% in the fourth quarter. Stifel Financial Corp now owns 7,558 shares of the real estate investment trust’s stock valued at $771,000 after purchasing an additional 1,236 shares during the last quarter. Pensionmark Financial Group LLC acquired a new position in shares of Sun Communities in the fourth quarter valued at approximately $416,000. Finally, UBS Oconnor LLC grew its position in shares of Sun Communities by 738.3% in the fourth quarter. UBS Oconnor LLC now owns 50,300 shares of the real estate investment trust’s stock valued at $5,116,000 after purchasing an additional 44,300 shares during the last quarter. 91.15% of the stock is currently owned by institutional investors.
Shares of SUI stock opened at $126.13 on Friday. The company has a market capitalization of $10.75 billion, a P/E ratio of 27.54, a P/E/G ratio of 4.38 and a beta of 0.31. Sun Communities Inc has a 1 year low of $93.16 and a 1 year high of $127.39.
Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.06. The business had revenue of $287.33 million during the quarter, compared to analysts’ expectations of $279.54 million. Sun Communities had a return on equity of 3.76% and a net margin of 10.00%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 earnings per share. On average, research analysts predict that Sun Communities Inc will post 4.85 EPS for the current year.
Several equities analysts have recently commented on the company. Wells Fargo & Co downgraded Sun Communities from an “outperform” rating to a “market perform” rating and set a $118.00 target price on the stock. in a research report on Tuesday, March 26th. Zacks Investment Research downgraded Sun Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, February 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $110.17.
In related news, Director Clunet R. Lewis sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $117.34, for a total value of $281,616.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at $2,346,800. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Arthur A. Weiss purchased 257,179 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was bought at an average price of $117.84 per share, with a total value of $30,305,973.36. Following the completion of the purchase, the director now owns 29,156 shares of the company’s stock, valued at approximately $3,435,743.04. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 16,912 shares of company stock valued at $1,985,363. 3.34% of the stock is currently owned by corporate insiders.
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Sun Communities Company Profile
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.
Further Reading: Why are percentage gainers important?
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