Maple Capital Management Inc. trimmed its position in shares of Sun Communities Inc (NYSE:SUI) by 0.9% in the 4th quarter, Holdings Channel reports. The fund owned 10,698 shares of the real estate investment trust’s stock after selling 100 shares during the quarter. Maple Capital Management Inc.’s holdings in Sun Communities were worth $1,088,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of SUI. Vanguard Group Inc raised its stake in shares of Sun Communities by 5.4% during the third quarter. Vanguard Group Inc now owns 11,641,879 shares of the real estate investment trust’s stock valued at $1,182,116,000 after acquiring an additional 600,622 shares during the last quarter. Zimmer Partners LP bought a new position in shares of Sun Communities during the third quarter valued at about $58,386,000. BlackRock Inc. raised its stake in shares of Sun Communities by 7.4% during the third quarter. BlackRock Inc. now owns 6,394,048 shares of the real estate investment trust’s stock valued at $649,251,000 after acquiring an additional 439,465 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Sun Communities by 37.0% during the third quarter. Renaissance Technologies LLC now owns 1,300,000 shares of the real estate investment trust’s stock valued at $132,002,000 after buying an additional 351,300 shares during the period. Finally, Nordea Investment Management AB purchased a new position in shares of Sun Communities during the third quarter valued at about $26,813,000. 93.48% of the stock is owned by hedge funds and other institutional investors.
SUI has been the topic of several research analyst reports. Citigroup set a $110.00 price target on shares of Sun Communities and gave the company a “hold” rating in a research report on Wednesday, December 12th. Zacks Investment Research cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, February 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $108.50.
Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.92). Sun Communities had a net margin of 9.87% and a return on equity of 3.78%. The company had revenue of $274.00 million for the quarter, compared to analysts’ expectations of $287.90 million. During the same quarter in the prior year, the firm earned $0.98 EPS. Sun Communities’s quarterly revenue was up 13.2% compared to the same quarter last year. As a group, research analysts forecast that Sun Communities Inc will post 4.84 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, March 28th. This represents a $3.00 annualized dividend and a dividend yield of 2.54%. This is a boost from Sun Communities’s previous quarterly dividend of $0.71. Sun Communities’s payout ratio is currently 62.01%.
In other Sun Communities news, Director Arthur A. Weiss acquired 257,179 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were acquired at an average price of $117.84 per share, for a total transaction of $30,305,973.36. Following the completion of the acquisition, the director now owns 29,156 shares in the company, valued at $3,435,743.04. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jonathan Colman sold 1,653 shares of the company’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $114.00, for a total transaction of $188,442.00. The disclosure for this sale can be found here. 3.69% of the stock is owned by insiders.
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About Sun Communities
Sun Communities, Inc is a REIT that, as of September 30, 2018, owned, operated, or had an interest in a portfolio of 370 communities comprising over 127,000 developed sites in 31 states and Ontario, Canada.
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