Envestnet Asset Management Inc. Sells 849 Shares of Sun Communities, Inc. (SUI)
Envestnet Asset Management Inc. reduced its position in shares of Sun Communities, Inc. (NYSE:SUI) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,557 shares of the real estate investment trust’s stock after selling 849 shares during the period. Envestnet Asset Management Inc. owned about 0.05% of Sun Communities worth $3,732,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. US Bancorp DE boosted its position in Sun Communities by 105.2% during the second quarter. US Bancorp DE now owns 1,473 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 755 shares during the last quarter. Whitnell & Co. acquired a new position in Sun Communities during the third quarter valued at approximately $139,000. Public Employees Retirement Association of Colorado boosted its position in Sun Communities by 6.3% during the second quarter. Public Employees Retirement Association of Colorado now owns 2,255 shares of the real estate investment trust’s stock valued at $198,000 after purchasing an additional 133 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Sun Communities by 8.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,299 shares of the real estate investment trust’s stock valued at $202,000 after purchasing an additional 178 shares during the last quarter. Finally, Raymond James Trust N.A. acquired a new position in Sun Communities during the second quarter valued at approximately $224,000. 93.62% of the stock is owned by institutional investors.
In other news, Director Clunet R. Lewis sold 1,292 shares of Sun Communities stock in a transaction on Monday, September 25th. The stock was sold at an average price of $86.52, for a total value of $111,783.84. Following the transaction, the director now owns 18,800 shares in the company, valued at approximately $1,626,576. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jonathan Colman sold 3,000 shares of Sun Communities stock in a transaction on Friday, September 29th. The shares were sold at an average price of $85.44, for a total value of $256,320.00. Following the completion of the transaction, the executive vice president now owns 33,985 shares in the company, valued at approximately $2,903,678.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,584 shares of company stock worth $1,010,694. Corporate insiders own 4.15% of the company’s stock.
Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.79. Sun Communities had a return on equity of 2.76% and a net margin of 7.37%. The firm had revenue of $268.20 million for the quarter, compared to analyst estimates of $239.45 million. During the same quarter last year, the company earned $1.13 EPS. equities analysts anticipate that Sun Communities, Inc. will post 4.16 earnings per share for the current year.
A number of research firms have recently issued reports on SUI. Zacks Investment Research raised Sun Communities from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. BMO Capital Markets reaffirmed a “buy” rating and issued a $96.00 price objective on shares of Sun Communities in a research report on Monday, October 23rd. Royal Bank of Canada raised their price objective on Sun Communities from $95.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, October 26th. ValuEngine raised Sun Communities from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Robert W. Baird reiterated a “buy” rating and set a $95.00 target price on shares of Sun Communities in a research note on Friday, September 8th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $93.00.
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Sun Communities 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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