Sun Communities Inc (SUI) Shares Sold by Anchor Capital Advisors LLC

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Anchor Capital Advisors LLC reduced its stake in Sun Communities Inc (NYSE:SUI) by 0.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 438,467 shares of the real estate investment trust’s stock after selling 2,734 shares during the quarter. Sun Communities makes up 1.6% of Anchor Capital Advisors LLC’s portfolio, making the stock its 13th biggest position. Anchor Capital Advisors LLC’s holdings in Sun Communities were worth $44,522,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. United Services Automobile Association increased its stake in Sun Communities by 4.2% in the second quarter. United Services Automobile Association now owns 12,741 shares of the real estate investment trust’s stock valued at $1,247,000 after purchasing an additional 516 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Sun Communities by 3.6% during the second quarter. Canada Pension Plan Investment Board now owns 17,200 shares of the real estate investment trust’s stock valued at $1,684,000 after buying an additional 600 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Sun Communities by 30.0% during the third quarter. IFP Advisors Inc now owns 2,826 shares of the real estate investment trust’s stock valued at $287,000 after buying an additional 652 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its holdings in shares of Sun Communities by 28.1% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,188 shares of the real estate investment trust’s stock valued at $312,000 after buying an additional 700 shares during the last quarter. Finally, First Mercantile Trust Co. grew its holdings in shares of Sun Communities by 46.3% during the second quarter. First Mercantile Trust Co. now owns 2,400 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 760 shares during the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Clunet R. Lewis sold 1,200 shares of the business’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $99.95, for a total transaction of $119,940.00. Following the transaction, the director now directly owns 19,400 shares in the company, valued at $1,939,030. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.69% of the stock is currently owned by insiders.

SUI has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Sun Communities from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. BMO Capital Markets lifted their price objective on shares of Sun Communities to $109.00 and gave the company an “outperform” rating in a report on Tuesday, September 11th. Royal Bank of Canada lifted their price objective on shares of Sun Communities to $105.00 and gave the company an “above average” rating in a report on Thursday, August 30th. They noted that the move was a valuation call. Robert W. Baird lifted their price objective on shares of Sun Communities from $102.00 to $106.00 and gave the company an “outperform” rating in a report on Monday, September 17th. Finally, Wells Fargo & Co lifted their price objective on shares of Sun Communities from $103.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, August 24th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $104.57.

Sun Communities stock opened at $100.47 on Thursday. Sun Communities Inc has a fifty-two week low of $80.12 and a fifty-two week high of $103.74. The stock has a market cap of $8.78 billion, a P/E ratio of 22.40, a PEG ratio of 3.41 and a beta of 0.06.

Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, October 24th. The real estate investment trust reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.07. Sun Communities had a net margin of 10.16% and a return on equity of 3.95%. The business had revenue of $323.54 million for the quarter, compared to analysts’ expectations of $292.22 million. As a group, analysts predict that Sun Communities Inc will post 4.59 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.83%. The ex-dividend date was Thursday, September 27th. Sun Communities’s dividend payout ratio (DPR) is presently 68.11%.

Sun Communities Profile

Sun Communities, Inc is a REIT that, as of June 30, 2018, owned, operated, or had an interest in a portfolio of 367 communities comprising approximately 126,000 developed sites in 31 states and Ontario, Canada. For more information about Sun Communities, Inc, please visit www.suncommunities.com.

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

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