Janney Montgomery Scott LLC lessened its stake in shares of Sun Communities Inc (NYSE:SUI) by 6.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,763 shares of the real estate investment trust’s stock after selling 1,106 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Sun Communities were worth $2,139,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. First Trust Advisors LP raised its position in Sun Communities by 29.6% in the 1st quarter. First Trust Advisors LP now owns 52,721 shares of the real estate investment trust’s stock valued at $6,248,000 after purchasing an additional 12,047 shares during the last quarter. Quadrant Capital Group LLC raised its position 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 valued at $207,000 after purchasing an additional 235 shares during the last quarter. Marshall Wace LLP purchased a new stake in Sun Communities in the 4th quarter valued at $165,000. Sunbelt Securities Inc. purchased a new stake in Sun Communities in the 4th quarter valued at $2,814,000. Finally, Norges Bank purchased a new stake in Sun Communities in the 4th quarter valued at $130,704,000. Institutional investors and hedge funds own 91.42% of the company’s stock.
Shares of Sun Communities stock opened at $149.93 on Friday. The company has a market cap of $14.73 billion, a P/E ratio of 108.65, a PEG ratio of 4.46 and a beta of 0.52. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.39 and a current ratio of 5.39. Sun Communities Inc has a one year low of $95.34 and a one year high of $173.98. The firm has a fifty day moving average of $139.60 and a two-hundred day moving average of $141.40.
Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.57). Sun Communities had a return on equity of 3.93% and a net margin of 10.37%. The firm had revenue of $303.27 million for the quarter, compared to analysts’ expectations of $311.24 million. As a group, equities 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. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.11%. Sun Communities’s dividend payout ratio (DPR) is presently 64.23%.
In other news, Director Clunet R. Lewis sold 4,000 shares of the company’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. Following the transaction, the director now directly owns 28,800 shares of the company’s stock, valued at approximately $4,161,600. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.72% of the company’s stock.
Several research firms recently commented on SUI. TheStreet upgraded shares of Sun Communities from a “c+” rating to a “b-” rating in a research report on Friday, July 24th. Royal Bank of Canada upped their price target on shares of Sun Communities from $147.00 to $151.00 and gave the company an “outperform” rating in a research report on Tuesday, July 28th. Citigroup upped their price target on shares of Sun Communities from $140.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Wells Fargo & Co cut their price objective on shares of Sun Communities from $158.00 to $139.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Finally, Zacks Investment Research downgraded shares of Sun Communities from a “buy” rating to a “hold” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Sun Communities presently has an average rating of “Hold” and an average target price of $153.20.
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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