Prudential Financial Inc. cut its stake in Sun Communities Inc. (NYSE:SUI) by 10.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 968,097 shares of the real estate investment trust’s stock after selling 111,589 shares during the period. Prudential Financial Inc. owned 1.41% of Sun Communities worth $75,976,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of SUI. Ngam Advisors L.P. raised its stake in Sun Communities by 12.7% in the third quarter. Ngam Advisors L.P. now owns 15,277 shares of the real estate investment trust’s stock valued at $1,199,000 after buying an additional 1,722 shares in the last quarter. Sei Investments Co. increased its position in Sun Communities by 79.1% in the third quarter. Sei Investments Co. now owns 142,077 shares of the real estate investment trust’s stock worth $11,151,000 after buying an additional 62,742 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in Sun Communities by 3.9% in the third quarter. UBS Asset Management Americas Inc. now owns 291,940 shares of the real estate investment trust’s stock worth $22,912,000 after buying an additional 10,888 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Sun Communities by 10.4% in the third quarter. Daiwa Securities Group Inc. now owns 3,470,648 shares of the real estate investment trust’s stock worth $272,376,000 after buying an additional 327,096 shares during the last quarter. Finally, M&T Bank Corp increased its position in Sun Communities by 7.9% in the third quarter. M&T Bank Corp now owns 19,529 shares of the real estate investment trust’s stock worth $1,533,000 after buying an additional 1,423 shares during the last quarter. Institutional investors own 98.27% of the company’s stock.

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

Sun Communities Inc. (NYSE:SUI) opened at 73.34 on Wednesday. Sun Communities Inc. has a one year low of $62.58 and a one year high of $85.98. The company’s 50-day moving average is $75.15 and its 200 day moving average is $75.23. The company has a market capitalization of $5.36 billion, a P/E ratio of 42.64 and a beta of 0.47.

Sun Communities (NYSE:SUI) last released its quarterly earnings data on Tuesday, November 1st. The real estate investment trust reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.03. Sun Communities had a net margin of 16.21% and a return on equity of 6.38%. The firm had revenue of $249.70 million for the quarter, compared to the consensus estimate of $146.83 million. During the same period in the previous year, the company earned $1.05 earnings per share. The company’s quarterly revenue was up 34.7% on a year-over-year basis. Analysts predict that Sun Communities Inc. will post $3.78 EPS for the current year.

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A number of research firms have recently commented on SUI. Evercore ISI began coverage on shares of Sun Communities in a report on Friday, October 14th. They set a “buy” rating and a $85.00 price objective for the company. Zacks Investment Research raised shares of Sun Communities from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Wednesday, November 16th. Citigroup Inc. raised shares of Sun Communities from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $86.00 in a report on Monday, September 12th. TheStreet downgraded shares of Sun Communities from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Finally, BMO Capital Markets raised shares of Sun Communities from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a report on Friday, September 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $82.00.

In other Sun Communities news, Director Stephanie W. Bergeron sold 4,850 shares of the company’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $70.63, for a total value of $342,555.50. Following the transaction, the director now directly owns 16,000 shares in the company, valued at $1,130,080. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.14% of the stock is currently owned by company insiders.

Sun Communities Company Profile

Sun Communities, Inc (SHS) is a self-administered and self-managed real estate investment trust (REIT). The Company operates in two segments: Real Property Operations, and Home Sales and Rentals. The Real Property Operations segment owns, operates and develops manufactured housing (MH) and recreational vehicle (RV) throughout the United States and is in the business of acquiring, operating and expanding MH and RV communities.

5 Day Chart for NYSE:SUI

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