Wells Fargo & Company MN lowered its position in shares of Sun Communities, Inc. (NYSE:SUI) by 1.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 204,521 shares of the real estate investment trust’s stock after selling 2,157 shares during the quarter. Wells Fargo & Company MN owned about 0.26% of Sun Communities worth $17,523,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Sun Communities by 9.4% in the second quarter. Vanguard Group Inc. now owns 11,504,907 shares of the real estate investment trust’s stock worth $1,008,865,000 after purchasing an additional 983,835 shares during the period. BlackRock Inc. increased its position in shares of Sun Communities by 9.7% in the second quarter. BlackRock Inc. now owns 5,132,844 shares of the real estate investment trust’s stock worth $450,100,000 after purchasing an additional 454,187 shares during the period. Principal Financial Group Inc. increased its position in shares of Sun Communities by 8.1% in the third quarter. Principal Financial Group Inc. now owns 2,891,855 shares of the real estate investment trust’s stock worth $247,774,000 after purchasing an additional 215,897 shares during the period. State Street Corp increased its position in shares of Sun Communities by 4.9% in the second quarter. State Street Corp now owns 2,190,229 shares of the real estate investment trust’s stock worth $192,065,000 after purchasing an additional 102,950 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Sun Communities by 13.9% in the third quarter. Bank of New York Mellon Corp now owns 1,745,275 shares of the real estate investment trust’s stock worth $149,535,000 after purchasing an additional 212,612 shares during the period. 93.58% of the stock is owned by institutional investors.

In other Sun Communities news, Director Clunet R. Lewis sold 5,292 shares of Sun Communities stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $86.20, for a total value of $456,170.40. Following the transaction, the director now owns 18,800 shares in the company, valued at $1,620,560. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan Colman sold 2,000 shares of Sun Communities stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $93.21, for a total value of $186,420.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,584 shares of company stock worth $1,010,694. Company insiders own 4.15% of the company’s stock.

A number of research analysts recently commented on the company. Robert W. Baird restated a “buy” rating and issued a $100.00 price target on shares of Sun Communities in a research report on Monday, December 11th. ValuEngine cut Sun Communities from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. Evercore ISI upgraded Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 price target on the stock in a research report on Monday, December 4th. Zacks Investment Research upgraded Sun Communities from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. Finally, Royal Bank of Canada raised their price target on Sun Communities from $95.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, October 26th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Sun Communities currently has an average rating of “Buy” and an average target price of $93.00.

Sun Communities, Inc. (NYSE SUI) opened at $92.16 on Wednesday. Sun Communities, Inc. has a 12-month low of $73.74 and a 12-month high of $96.08. The stock has a market capitalization of $7,519.29, a PE ratio of 23.11, a price-to-earnings-growth ratio of 3.62 and a beta of 0.27.

Sun Communities (NYSE:SUI) last released its earnings results on Monday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $239.45 million. During the same quarter in the previous year, the business posted $1.13 earnings per share. equities analysts expect that Sun Communities, Inc. will post 4.16 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, December 28th. Sun Communities’s dividend payout ratio is presently 362.16%.

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

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