Honeywell International Inc. Reduces Position in Sun Communities Inc (NYSE:SUI)

Honeywell International Inc. lessened its holdings in shares of Sun Communities Inc (NYSE:SUI) by 19.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,137 shares of the real estate investment trust’s stock after selling 6,700 shares during the period. Sun Communities comprises approximately 1.4% of Honeywell International Inc.’s investment portfolio, making the stock its 21st biggest position. Honeywell International Inc.’s holdings in Sun Communities were worth $3,607,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SUI. BB&T Corp boosted its holdings in shares of Sun Communities by 11.7% in the second quarter. BB&T Corp now owns 12,774 shares of the real estate investment trust’s stock valued at $1,638,000 after purchasing an additional 1,340 shares during the period. World Asset Management Inc boosted its holdings in shares of Sun Communities by 7.2% in the second quarter. World Asset Management Inc now owns 3,369 shares of the real estate investment trust’s stock valued at $432,000 after purchasing an additional 226 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Sun Communities by 32.0% in the second quarter. State of Alaska Department of Revenue now owns 48,637 shares of the real estate investment trust’s stock valued at $6,232,000 after purchasing an additional 11,800 shares during the period. Whittier Trust Co. purchased a new stake in shares of Sun Communities in the second quarter valued at approximately $82,000. Finally, AE Wealth Management LLC boosted its holdings in shares of Sun Communities by 44.6% in the second quarter. AE Wealth Management LLC now owns 2,586 shares of the real estate investment trust’s stock valued at $332,000 after purchasing an additional 798 shares during the period. Institutional investors and hedge funds own 88.48% of the company’s stock.

A number of analysts recently issued reports on the company. Zacks Investment Research lowered Sun Communities from a “buy” rating to a “hold” rating in a report on Wednesday, June 5th. BMO Capital Markets boosted their price objective on shares of Sun Communities to $132.00 and gave the stock an “outperform” rating in a research note on Monday, June 3rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $118.67.

Shares of NYSE:SUI opened at $134.98 on Friday. The company has a market capitalization of $12.04 billion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 4.58 and a beta of 0.27. Sun Communities Inc has a 52 week low of $94.63 and a 52 week high of $136.64. The business has a 50 day simple moving average of $131.68.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.46 EPS 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%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $1.07 EPS. As a group, equities research analysts forecast that Sun Communities Inc will post 4.87 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Thursday, June 27th. Sun Communities’s dividend payout ratio (DPR) is 65.50%.

Sun Communities 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.

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

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