Netols Asset Management Inc. Sells 9,885 Shares of Sun Communities, Inc. (SUI)

Netols Asset Management Inc. cut its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 8.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 112,536 shares of the real estate investment trust’s stock after selling 9,885 shares during the period. Sun Communities makes up approximately 2.0% of Netols Asset Management Inc.’s holdings, making the stock its 9th largest position. Netols Asset Management Inc. owned about 0.15% of Sun Communities worth $9,040,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd bought a new stake in Sun Communities during the fourth quarter valued at about $115,000. Norris Perne & French LLP MI acquired a new stake in shares of Sun Communities during the first quarter worth $201,000. Comerica Bank acquired a new stake in shares of Sun Communities during the fourth quarter worth $241,000. Douglas Lane & Associates LLC acquired a new stake in shares of Sun Communities during the first quarter worth $249,000. Finally, Princeton Alpha Management LP acquired a new stake in shares of Sun Communities during the first quarter worth $260,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

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

Sun Communities, Inc. (NYSE SUI) traded up 0.49% during trading on Friday, reaching $90.82. The company had a trading volume of 832,453 shares. The company has a market capitalization of $6.70 billion, a PE ratio of 207.83 and a beta of 0.32. Sun Communities, Inc. has a 52-week low of $69.90 and a 52-week high of $90.85. The company has a 50 day moving average price of $86.11 and a 200 day moving average price of $80.80.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $1.10 EPS for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.03. The business had revenue of $234.40 million for the quarter, compared to analyst estimates of $194.89 million. Sun Communities had a return on equity of 1.80% and a net margin of 4.65%. Sun Communities’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period last year, the company posted $0.90 earnings per share. On average, equities analysts forecast that Sun Communities, Inc. will post $1.08 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Wednesday, June 28th. Sun Communities’s dividend payout ratio is currently 638.11%.

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Several equities analysts have recently commented on SUI shares. Zacks Investment Research lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Saturday, February 25th. Citigroup Inc. lowered shares of Sun Communities from a “buy” rating to a “neutral” rating and set a $86.00 target price for the company. in a research report on Monday, February 27th. They noted that the move was a valuation call. Evercore ISI downgraded shares of Sun Communities from a “buy” rating to a “hold” rating and upped their price target for the company from $81.00 to $86.00 in a report on Tuesday, February 28th. TheStreet downgraded shares of Sun Communities from a “b-” rating to a “c+” rating in a report on Friday, March 10th. Finally, Bank of America Corporation raised shares of Sun Communities from an “underperform” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Monday, May 22nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Sun Communities presently has a consensus rating of “Buy” and an average target price of $90.00.

In other Sun Communities news, COO John Bandini Mclaren sold 980 shares of the firm’s stock in a transaction on Monday, March 20th. The stock was sold at an average price of $73.49, for a total value of $72,020.20. Following the completion of the sale, the chief operating officer now directly owns 160,943 shares of the company’s stock, valued at $11,827,701.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.15% of the company’s stock.

Sun Communities Company Profile

Sun Communities, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is a fully integrated real estate company, which, together with its affiliates and predecessors, has been in the business of acquiring, operating, developing, and expanding manufactured housing (MH) and recreational vehicle (RV).

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