Brasada Capital Management LP increased its holdings in Sun Communities Inc (NYSE:SUI) by 14.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,401 shares of the real estate investment trust’s stock after purchasing an additional 4,347 shares during the quarter. Brasada Capital Management LP’s holdings in Sun Communities were worth $3,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Prudential Financial Inc. boosted its position in shares of Sun Communities by 530.7% in the 3rd quarter. Prudential Financial Inc. now owns 31,077 shares of the real estate investment trust’s stock worth $3,156,000 after purchasing an additional 26,150 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Sun Communities by 3.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 53,027 shares of the real estate investment trust’s stock worth $5,385,000 after purchasing an additional 1,850 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Sun Communities by 57.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 156,207 shares of the real estate investment trust’s stock worth $15,861,000 after purchasing an additional 57,194 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Sun Communities by 1.5% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 83,496 shares of the real estate investment trust’s stock worth $8,478,000 after purchasing an additional 1,255 shares in the last quarter. Finally, Opus Capital Group LLC boosted its position in shares of Sun Communities by 94.9% in the 3rd quarter. Opus Capital Group LLC now owns 6,328 shares of the real estate investment trust’s stock worth $642,000 after purchasing an additional 3,082 shares in the last quarter. 87.41% of the stock is currently owned by institutional investors.

In related news, Director Clunet R. Lewis sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $99.95, for a total value of $119,940.00. Following the completion of the transaction, the director now directly owns 19,400 shares in the company, valued at approximately $1,939,030. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.69% of the stock is owned by insiders.

SUI has been the topic of a number of analyst reports. Zacks Investment Research cut Sun Communities from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. BMO Capital Markets boosted their price target on Sun Communities to $109.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 11th. Royal Bank of Canada boosted their price target on Sun Communities to $105.00 and gave the stock an “above average” rating in a research report on Thursday, August 30th. They noted that the move was a valuation call. Citigroup boosted their price target on Sun Communities from $100.00 to $105.00 and gave the stock a “hold” rating in a research report on Monday, October 29th. Finally, Robert W. Baird boosted their price target on Sun Communities from $102.00 to $106.00 and gave the stock an “outperform” rating in a research report on Monday, September 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $104.57.

Shares of NYSE SUI opened at $102.10 on Wednesday. Sun Communities Inc has a twelve month low of $80.12 and a twelve month high of $103.85. The company has a market capitalization of $8.87 billion, a P/E ratio of 24.48, a PEG ratio of 3.44 and a beta of 0.08.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, October 24th. The real estate investment trust reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.07. Sun Communities had a net margin of 10.16% and a return on equity of 3.95%. The company had revenue of $323.54 million during the quarter, compared to analyst estimates of $292.22 million. As a group, analysts anticipate that Sun Communities Inc will post 4.59 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were issued a $0.71 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.84 dividend on an annualized basis and a yield of 2.78%. Sun Communities’s payout ratio is currently 68.11%.

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About Sun Communities

Sun Communities, Inc is a REIT that, as of September 30, 2018, owned, operated, or had an interest in a portfolio of 370 communities comprising over 127,000 developed sites in 31 states and Ontario, Canada.

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

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