Securian Asset Management Inc reduced its position in Sun Communities Inc (NYSE:SUI) by 3.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 184,411 shares of the real estate investment trust’s stock after selling 6,837 shares during the quarter. Securian Asset Management Inc’s holdings in Sun Communities were worth $23,640,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Penserra Capital Management LLC acquired a new position in Sun Communities in the 1st quarter worth about $58,000. Whittier Trust Co. acquired a new position in Sun Communities in the 2nd quarter worth about $82,000. Optimum Investment Advisors increased its position in Sun Communities by 14.8% in the 1st quarter. Optimum Investment Advisors now owns 775 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 100 shares during the last quarter. AdvisorNet Financial Inc increased its position in Sun Communities by 351.0% in the 2nd quarter. AdvisorNet Financial Inc now owns 902 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 702 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Sun Communities in the 2nd quarter worth about $128,000. 90.36% of the stock is currently owned by institutional investors.
Shares of NYSE SUI traded down $0.22 during mid-day trading on Tuesday, reaching $146.50. 7,109 shares of the company traded hands, compared to its average volume of 451,148. The stock has a market cap of $13.27 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 5.04 and a beta of 0.27. The company’s fifty day moving average is $135.77 and its two-hundred day moving average is $124.39. Sun Communities Inc has a fifty-two week low of $94.63 and a fifty-two week high of $147.44.
Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.67). The company had revenue of $312.45 million for the quarter, compared to analyst estimates of $295.20 million. Sun Communities had a net margin of 11.05% and a return on equity of 4.01%. The business’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.07 EPS. As a group, sell-side analysts predict that Sun Communities Inc will post 4.87 earnings per share for the current year.
Several brokerages have weighed in on SUI. Zacks Investment Research lowered Sun Communities from a “buy” rating to a “hold” rating in a research report on Wednesday, June 5th. BMO Capital Markets upped their target price on Sun Communities to $132.00 and gave the stock an “outperform” rating in a research report on Monday, June 3rd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Sun Communities currently has an average rating of “Hold” and a consensus price target of $118.67.
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.
Featured Article: What are the benefits of a portfolio tracker?
Want to see what other hedge funds are holding SUI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Communities Inc (NYSE:SUI).
Receive News & Ratings for Sun Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Communities and related companies with MarketBeat.com's FREE daily email newsletter.