Zurcher Kantonalbank Zurich Cantonalbank Has $467,000 Position in Sun Communities, Inc. (SUI)
Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Sun Communities, Inc. (NYSE:SUI) by 19.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,323 shares of the real estate investment trust’s stock after purchasing an additional 861 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sun Communities were worth $467,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its holdings in Sun Communities by 20.6% during the 2nd quarter. Pacer Advisors Inc. now owns 14,471 shares of the real estate investment trust’s stock valued at $1,269,000 after purchasing an additional 2,475 shares during the last quarter. Utah Retirement Systems lifted its holdings in Sun Communities by 5.7% during the 2nd quarter. Utah Retirement Systems now owns 15,098 shares of the real estate investment trust’s stock valued at $1,324,000 after purchasing an additional 811 shares during the last quarter. Usca Ria LLC lifted its holdings in Sun Communities by 2.4% during the 2nd quarter. Usca Ria LLC now owns 8,657 shares of the real estate investment trust’s stock valued at $759,000 after purchasing an additional 200 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Sun Communities by 4.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 66,814 shares of the real estate investment trust’s stock valued at $5,859,000 after purchasing an additional 2,869 shares during the last quarter. Finally, GAM Holding AG lifted its holdings in Sun Communities by 17.1% during the 2nd quarter. GAM Holding AG now owns 6,409 shares of the real estate investment trust’s stock valued at $562,000 after purchasing an additional 935 shares during the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.
Sun Communities, Inc. (NYSE:SUI) opened at 87.73 on Wednesday. Sun Communities, Inc. has a 52 week low of $69.90 and a 52 week high of $91.87. The company has a market capitalization of $6.93 billion, a P/E ratio of 125.51 and a beta of 0.29. The firm has a 50 day moving average of $89.20 and a 200-day moving average of $85.87.
Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The firm had revenue of $237.90 million for the quarter, compared to analyst estimates of $210.58 million. Sun Communities had a return on equity of 2.59% and a net margin of 6.82%. The company’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share. On average, analysts forecast that Sun Communities, Inc. will post $0.99 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.68 dividend on an annualized basis and a yield of 3.05%. Sun Communities’s payout ratio is 382.86%.
SUI has been the subject of several analyst reports. Zacks Investment Research raised shares of Sun Communities from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a report on Saturday, June 17th. Bank of America Corporation raised shares of Sun Communities from an “underperform” rating to a “buy” rating and set a $93.00 price target for the company in a report on Monday, May 22nd. BidaskClub downgraded shares of Sun Communities from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Royal Bank Of Canada reissued a “buy” rating and set a $92.00 price target on shares of Sun Communities in a report on Sunday, July 16th. Finally, Robert W. Baird reissued a “buy” rating and set a $95.00 price target on shares of Sun Communities in a report on Friday, September 8th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $90.86.
In other Sun Communities news, COO John Bandini Mclaren sold 5,400 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $88.43, for a total transaction of $477,522.00. Following the sale, the chief operating officer now directly owns 153,159 shares in the company, valued at $13,543,850.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.15% of the company’s stock.
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About Sun Communities
Sun Communities, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is a fully integrated real estate company, which, together with its affiliates and predecessors, has been in the business of acquiring, operating, developing, and expanding manufactured housing (MH) and recreational vehicle (RV).
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