Tiverton Asset Management LLC Has $2.64 Million Holdings in Sun Communities, Inc. (SUI)
Tiverton Asset Management LLC cut its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 24.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,099 shares of the real estate investment trust’s stock after selling 9,901 shares during the period. Tiverton Asset Management LLC’s holdings in Sun Communities were worth $2,639,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of SUI. Great West Life Assurance Co. Can raised its stake in Sun Communities by 1.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 39,143 shares of the real estate investment trust’s stock valued at $3,140,000 after acquiring an additional 454 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Sun Communities by 0.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 91,566 shares of the real estate investment trust’s stock valued at $7,355,000 after acquiring an additional 252 shares during the last quarter. American Century Companies Inc. raised its stake in Sun Communities by 1.3% during the 1st quarter. American Century Companies Inc. now owns 53,302 shares of the real estate investment trust’s stock valued at $4,282,000 after acquiring an additional 691 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in Sun Communities during the 1st quarter valued at approximately $458,000. Finally, Bank of New York Mellon Corp raised its stake in Sun Communities by 5.7% during the 1st quarter. Bank of New York Mellon Corp now owns 380,067 shares of the real estate investment trust’s stock valued at $30,531,000 after acquiring an additional 20,453 shares during the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.
Shares of Sun Communities, Inc. (NYSE SUI) remained flat at $89.18 during trading on Friday. The company had a trading volume of 1,096,285 shares. The company’s 50 day moving average price is $89.19 and its 200-day moving average price is $85.98. Sun Communities, Inc. has a 12-month low of $69.90 and a 12-month high of $91.87. The company has a market cap of $7.05 billion, a price-to-earnings ratio of 127.58 and a beta of 0.29.
Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.03). The business had revenue of $237.90 million for the quarter, compared to the consensus estimate of $210.58 million. Sun Communities had a net margin of 6.82% and a return on equity of 2.59%. The business’s quarterly revenue was up 24.7% on a year-over-year basis. During the same period last year, the firm posted $0.85 EPS. Analysts forecast that Sun Communities, Inc. will post $0.99 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.67 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.01%. Sun Communities’s dividend payout ratio (DPR) is presently 382.86%.
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In other news, COO John Bandini Mclaren sold 5,400 shares of Sun Communities stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $88.43, for a total transaction of $477,522.00. Following the sale, the chief operating officer now owns 153,159 shares of the company’s stock, valued at $13,543,850.37. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.15% of the company’s stock.
Several research firms have commented on SUI. Robert W. Baird reaffirmed a “buy” rating and set a $95.00 price objective on shares of Sun Communities in a research note on Friday, September 8th. Zacks Investment Research raised Sun Communities from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada reissued a “buy” rating and set a $92.00 target price on shares of Sun Communities in a research note on Sunday, July 16th. Finally, BidaskClub downgraded Sun Communities from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $90.86.
Sun Communities Company Profile
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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