Fmr LLC Trims Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Fmr LLC reduced its stake in Sun Communities, Inc. (NYSE:SUI) by 0.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,553,013 shares of the real estate investment trust’s stock after selling 1,987 shares during the period. Fmr LLC’s holdings in Sun Communities were worth $266,187,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Y Intercept Hong Kong Ltd raised its holdings in Sun Communities by 4.6% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 1,441 shares of the real estate investment trust’s stock valued at $216,000 after buying an additional 63 shares during the period. Quadrant Capital Group LLC raised its holdings in Sun Communities by 8.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 990 shares of the real estate investment trust’s stock valued at $170,000 after buying an additional 74 shares during the period. HighTower Advisors LLC raised its holdings in Sun Communities by 0.9% in the 2nd quarter. HighTower Advisors LLC now owns 8,768 shares of the real estate investment trust’s stock valued at $1,508,000 after buying an additional 75 shares during the period. Franklin Resources Inc. raised its holdings in Sun Communities by 5.8% in the 1st quarter. Franklin Resources Inc. now owns 1,527 shares of the real estate investment trust’s stock valued at $229,000 after buying an additional 84 shares during the period. Finally, Creative Planning raised its holdings in Sun Communities by 3.8% in the 2nd quarter. Creative Planning now owns 2,508 shares of the real estate investment trust’s stock valued at $430,000 after buying an additional 91 shares during the period. Hedge funds and other institutional investors own 94.53% of the company’s stock.

Shares of Sun Communities stock opened at $192.99 on Thursday. Sun Communities, Inc. has a one year low of $135.01 and a one year high of $209.98. The company has a market cap of $22.37 billion, a PE ratio of 91.46, a P/E/G ratio of 3.19 and a beta of 0.56. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.50 and a current ratio of 2.50. The business has a 50-day simple moving average of $196.17 and a 200-day simple moving average of $179.35.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Sunday, July 25th. The real estate investment trust reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.38. Sun Communities had a return on equity of 3.84% and a net margin of 12.26%. During the same quarter in the prior year, the firm earned $0.60 earnings per share. On average, sell-side analysts predict that Sun Communities, Inc. will post 6.33 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Wednesday, September 29th. Sun Communities’s dividend payout ratio is presently 65.23%.

In related news, COO John Bandini Mclaren sold 11,111 shares of the company’s stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $198.06, for a total value of $2,200,644.66. Following the completion of the transaction, the chief operating officer now directly owns 152,847 shares of the company’s stock, valued at $30,272,876.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary A. Shiffman purchased 234,934 shares of the stock in a transaction that occurred on Wednesday, July 28th. The stock was acquired at an average cost of $194.20 per share, with a total value of $45,624,182.80. Following the completion of the acquisition, the chief executive officer now directly owns 713,610 shares of the company’s stock, valued at $138,583,062. The disclosure for this purchase can be found here. Insiders own 2.72% of the company’s stock.

SUI has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a report on Thursday, October 7th. Barclays started coverage on shares of Sun Communities in a research note on Wednesday, September 1st. They set an “overweight” rating and a $232.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $186.43.

Sun Communities Profile

Sun Communities, Inc provides real estate management services. The firm operates through the following segments: Real Property Operations and Home Sales and Rentals. The Real Property Operations segment owns, operates, and develops manufacture housing communities and recreational vehicle communities throughout the United States and is in the business of acquiring, operating, and expanding manufactured housing and recreational vehicle communities.

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

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