Sun Communities Inc (NYSE:SUI) Director Clunet R. Lewis sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $143.50, for a total value of $574,000.00. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at $2,870,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of SUI stock opened at $135.99 on Friday. The stock’s fifty day moving average price is $136.79 and its two-hundred day moving average price is $143.50. The company has a market cap of $12.91 billion, a PE ratio of 110.56, a P/E/G ratio of 3.69 and a beta of 0.52. Sun Communities Inc has a fifty-two week low of $95.34 and a fifty-two week high of $173.98. The company has a debt-to-equity ratio of 1.01, a quick ratio of 5.76 and a current ratio of 5.76.
Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.37). The business had revenue of $310.30 million for the quarter, compared to analyst estimates of $294.10 million. Sun Communities had a return on equity of 3.67% and a net margin of 8.89%. Sun Communities’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the firm posted $0.40 EPS. On average, equities analysts predict that Sun Communities Inc will post 4.99 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.32%. The ex-dividend date is Monday, June 29th. Sun Communities’s payout ratio is 64.23%.
Several institutional investors and hedge funds have recently bought and sold shares of SUI. Mackenzie Financial Corp grew its holdings in shares of Sun Communities by 13.4% during the 1st quarter. Mackenzie Financial Corp now owns 2,499 shares of the real estate investment trust’s stock valued at $312,000 after purchasing an additional 296 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in Sun Communities by 9.1% in the first quarter. Gateway Investment Advisers LLC now owns 150,209 shares of the real estate investment trust’s stock valued at $18,754,000 after buying an additional 12,494 shares in the last quarter. Jane Street Group LLC acquired a new stake in Sun Communities in the first quarter valued at approximately $2,861,000. BlackRock Inc. grew its stake in shares of Sun Communities by 1.9% during the first quarter. BlackRock Inc. now owns 8,055,968 shares of the real estate investment trust’s stock worth $1,005,788,000 after buying an additional 149,015 shares during the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in shares of Sun Communities during the fourth quarter worth $1,663,000. Institutional investors own 91.51% of the company’s stock.
Several equities analysts have weighed in on the company. Citigroup lifted their price objective on Sun Communities from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Zacks Investment Research upgraded Sun Communities from a “sell” rating to a “hold” rating in a research report on Thursday, March 12th. Evercore ISI raised shares of Sun Communities from an “in-line” rating to an “outperform” rating in a research report on Monday, March 30th. Finally, Wells Fargo & Co decreased their target price on shares of Sun Communities from $158.00 to $139.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Sun Communities presently has a consensus rating of “Hold” and an average target price of $155.00.
About Sun Communities
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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