Northern Trust Corp lessened its holdings in shares of Sun Communities Inc (NYSE:SUI) by 9.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 751,445 shares of the real estate investment trust’s stock after selling 76,080 shares during the quarter. Northern Trust Corp’s holdings in Sun Communities were worth $76,430,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of SUI. Ffcm LLC bought a new stake in Sun Communities in the 4th quarter worth approximately $26,000. Lindbrook Capital LLC bought a new stake in Sun Communities in the 4th quarter worth approximately $31,000. Quadrant Capital Group LLC increased its stake in Sun Communities by 20.9% in the 4th quarter. Quadrant Capital Group LLC now owns 838 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 145 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in Sun Communities in the 3rd quarter worth approximately $162,000. Finally, Bailard Inc. bought a new stake in Sun Communities in the 3rd quarter worth approximately $203,000. 93.48% of the stock is currently owned by institutional investors.
SUI has been the topic of a number of research reports. Citigroup set a $110.00 price objective on Sun Communities and gave the stock a “hold” rating in a research note on Wednesday, December 12th. Zacks Investment Research downgraded Sun Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, February 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $108.50.
NYSE:SUI opened at $117.61 on Friday. Sun Communities Inc has a 1 year low of $88.30 and a 1 year high of $121.28. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 4.00 and a beta of 0.31.
Sun Communities (NYSE:SUI) last released its quarterly earnings data on Wednesday, February 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($0.92). Sun Communities had a return on equity of 3.78% and a net margin of 9.87%. The firm had revenue of $274.00 million during the quarter, compared to the consensus estimate of $287.90 million. During the same period in the previous year, the firm earned $0.98 EPS. The business’s revenue was up 13.2% compared to the same quarter last year. On average, sell-side analysts expect that Sun Communities Inc will post 4.84 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a $0.75 dividend. This is an increase from Sun Communities’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, March 28th. This represents a $3.00 dividend on an annualized basis and a yield of 2.55%. Sun Communities’s payout ratio is presently 62.01%.
In related news, Director Arthur A. Weiss bought 257,179 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was purchased at an average price of $117.84 per share, for a total transaction of $30,305,973.36. Following the acquisition, the director now owns 29,156 shares in the company, valued at $3,435,743.04. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gary A. Shiffman sold 12,859 shares of Sun Communities stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $117.84, for a total value of $1,515,304.56. Following the completion of the transaction, the chief executive officer now owns 1,418,466 shares of the company’s stock, valued at approximately $167,152,033.44. The disclosure for this sale can be found here. Insiders own 3.69% of the company’s stock.
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Sun Communities Company Profile
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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