FDx Advisors Inc. trimmed its stake in Sun Communities Inc (NYSE:SUI) by 4.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,794 shares of the real estate investment trust’s stock after selling 175 shares during the quarter. FDx Advisors Inc.’s holdings in Sun Communities were worth $474,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sunbelt Securities Inc. bought a new position in Sun Communities in the fourth quarter valued at approximately $2,814,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Sun Communities by 177.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 275 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 176 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Sun Communities in the first quarter valued at approximately $37,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of Sun Communities in the first quarter valued at approximately $39,000. Finally, Harvest Fund Management Co. Ltd lifted its position in shares of Sun Communities by 368.8% in the first quarter. Harvest Fund Management Co. Ltd now owns 361 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

In other Sun Communities news, Director Clunet R. Lewis sold 4,000 shares of Sun Communities stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $143.50, for a total value of $574,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $2,870,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.72% of the stock is owned by insiders.

NYSE:SUI opened at $135.99 on Tuesday. The stock has a market cap of $12.69 billion, a P/E ratio of 27.42, a PEG ratio of 3.64 and a beta of 0.52. The stock has a 50 day simple moving average of $136.96 and a 200 day simple moving average of $143.16. The company has a current ratio of 5.76, a quick ratio of 5.76 and a debt-to-equity ratio of 1.01. Sun Communities Inc has a 1-year low of $95.34 and a 1-year high of $173.98.

Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.37). The firm had revenue of $310.30 million for the quarter, compared to analyst estimates of $294.10 million. Sun Communities had a return on equity of 3.67% and a net margin of 8.89%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share. As a group, sell-side analysts forecast that Sun Communities Inc will post 4.99 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.79 dividend. The ex-dividend date is Monday, June 29th. This represents a $3.16 annualized dividend and a yield of 2.32%. Sun Communities’s dividend payout ratio is presently 64.23%.

SUI has been the subject of a number of recent analyst reports. Citigroup raised their price objective on Sun Communities from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Zacks Investment Research raised Sun Communities from a “sell” rating to a “hold” rating in a research report on Thursday, March 12th. Wells Fargo & Co cut their price objective on Sun Communities from $158.00 to $139.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Finally, Evercore ISI raised Sun Communities from an “in-line” rating to an “outperform” rating in a report on Monday, March 30th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $155.00.

About Sun Communities

Sun Communities, Inc is a REIT that, as of March 31, 2019, owned, operated, or had an interest in a portfolio of 379 communities comprising over 132,000 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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