198,444 Sun Communities, Inc. $SUI Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 21.4% in the 3rd quarter, Holdings Channel reports. The firm owned 728,605 shares of the real estate investment trust’s stock after selling 198,444 shares during the quarter. Russell Investments Group Ltd.’s holdings in Sun Communities were worth $80,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Gibbs Wealth Management lifted its holdings in Sun Communities by 3.7% in the third quarter. Gibbs Wealth Management now owns 2,547 shares of the real estate investment trust’s stock worth $282,000 after acquiring an additional 90 shares during the last quarter. Capital Square LLC boosted its stake in Sun Communities by 1.8% in the third quarter. Capital Square LLC now owns 7,898 shares of the real estate investment trust’s stock valued at $875,000 after acquiring an additional 136 shares during the period. Pictet Asset Management Holding SA grew its holdings in shares of Sun Communities by 0.3% during the third quarter. Pictet Asset Management Holding SA now owns 50,099 shares of the real estate investment trust’s stock valued at $5,550,000 after purchasing an additional 168 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Sun Communities by 5.3% during the first quarter. Empowered Funds LLC now owns 3,456 shares of the real estate investment trust’s stock valued at $435,000 after purchasing an additional 175 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Sun Communities by 1.9% during the first quarter. Cetera Investment Advisers now owns 10,629 shares of the real estate investment trust’s stock valued at $1,339,000 after purchasing an additional 199 shares during the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wells Fargo & Company cut their price target on Sun Communities from $141.00 to $136.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Morgan Stanley lowered their price objective on Sun Communities from $135.00 to $126.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 12th. Robert W. Baird dropped their target price on Sun Communities from $138.00 to $131.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 10th. Royal Bank Of Canada cut their target price on Sun Communities from $148.00 to $140.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 13th. Finally, UBS Group reiterated a “neutral” rating on shares of Sun Communities in a research note on Tuesday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $135.65.

Sun Communities Stock Performance

Sun Communities stock traded up $1.19 during mid-day trading on Friday, hitting $118.60. 645,892 shares of the company’s stock traded hands, compared to its average volume of 1,346,583. The firm has a 50 day moving average price of $115.43 and a 200 day moving average price of $123.10. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.69. The company has a market cap of $14.16 billion, a PE ratio of -19.25, a price-to-earnings-growth ratio of 5.95 and a beta of 0.75. Sun Communities, Inc. has a one year low of $109.77 and a one year high of $137.85.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Sun Communities had a positive return on equity of 5.02% and a negative net margin of 36.00%. The company had revenue of $558.20 million during the quarter, compared to analyst estimates of $563.59 million. During the same quarter in the previous year, the firm posted $2.28 EPS. The firm’s quarterly revenue was up .4% on a year-over-year basis. On average, equities analysts forecast that Sun Communities, Inc. will post 7.03 EPS for the current year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a $1.12 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $4.48 annualized dividend and a yield of 3.8%. Sun Communities’s dividend payout ratio is presently -72.73%.

Sun Communities Profile

Sun Communities, Inc. is a real estate investment trust that owns and operates manufactured housing communities, recreational vehicle (RV) communities and resorts, and marinas. Its properties serve long-term residents as well as vacationers and boaters, with offerings that include home sites, RV accommodations, boat slips and related amenities. Founded in 1975, the company has expanded beyond its original manufactured housing business through acquisitions and development. Its portfolio spans the United States, Canada and the United Kingdom.