Securian Asset Management Inc lowered its stake in shares of Sun Communities Inc (NYSE:SUI) by 9.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 191,248 shares of the real estate investment trust’s stock after selling 20,352 shares during the period. Securian Asset Management Inc’s holdings in Sun Communities were worth $22,667,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. grew its position in Sun Communities by 3.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,533,293 shares of the real estate investment trust’s stock worth $300,245,000 after purchasing an additional 84,675 shares during the period. BNP Paribas Arbitrage SA grew its position in Sun Communities by 78.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 26,368 shares of the real estate investment trust’s stock worth $3,125,000 after purchasing an additional 11,604 shares during the period. TradeLink Capital LLC acquired a new stake in Sun Communities during the 1st quarter worth about $403,000. Oppenheimer & Co. Inc. acquired a new stake in Sun Communities during the 1st quarter worth about $368,000. Finally, Investec Asset Management PTY Ltd grew its position in Sun Communities by 47.0% during the 1st quarter. Investec Asset Management PTY Ltd now owns 11,255 shares of the real estate investment trust’s stock worth $1,334,000 after purchasing an additional 3,600 shares during the period. Institutional investors own 94.31% of the company’s stock.
SUI stock opened at $122.11 on Monday. Sun Communities Inc has a 52-week low of $91.03 and a 52-week high of $123.54. The stock has a market cap of $10.55 billion, a PE ratio of 26.66, a PEG ratio of 4.16 and a beta of 0.31.
Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, April 24th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.06. Sun Communities had a net margin of 10.00% and a return on equity of 3.79%. The business had revenue of $287.33 million for the quarter, compared to analyst estimates of $279.54 million. During the same period in the prior year, the company posted $1.14 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, research analysts predict that Sun Communities Inc will post 4.83 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a dividend of $0.75 per share. This is a positive change from Sun Communities’s previous quarterly dividend of $0.71. This represents a $3.00 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Thursday, March 28th. Sun Communities’s dividend payout ratio is presently 65.50%.
In other news, Director Arthur A. Weiss bought 257,179 shares of the stock in a transaction dated Tuesday, March 12th. The shares were acquired at an average cost of $117.84 per share, with a total value of $30,305,973.36. Following the purchase, the director now directly owns 29,156 shares in the company, valued at approximately $3,435,743.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Clunet R. Lewis sold 2,400 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $117.34, for a total transaction of $281,616.00. Following the sale, the director now directly owns 20,000 shares in the company, valued at $2,346,800. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,912 shares of company stock worth $1,985,363. Corporate insiders own 3.34% of the company’s stock.
Several equities research analysts have weighed in on the company. Wells Fargo & Co downgraded Sun Communities from an “outperform” rating to a “market perform” rating and set a $118.00 price target on the stock. in a research report on Tuesday, March 26th. Zacks Investment Research downgraded 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, three have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $110.17.
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Sun Communities Company Profile
Sun Communities, Inc is a REIT that, as of December 31, 2018, owned, operated, or had an interest in a portfolio of 371 communities comprising over 128,000 developed sites in 31 states and Ontario, Canada.
Further Reading: Strike Price
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