Sun Communities Inc (SUI) Director Arthur A. Weiss Buys 257,179 Shares

Sun Communities Inc (NYSE:SUI) Director Arthur A. Weiss bought 257,179 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was bought at an average price of $117.84 per share, with a total value of $30,305,973.36. Following the transaction, the director now directly owns 29,156 shares in the company, valued at $3,435,743.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

NYSE SUI traded up $0.25 on Thursday, reaching $117.61. The company’s stock had a trading volume of 265,148 shares, compared to its average volume of 351,017. Sun Communities Inc has a twelve month low of $88.30 and a twelve month high of $121.28. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 4.00 and a beta of 0.31.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($0.92). Sun Communities had a net margin of 9.87% and a return on equity of 3.78%. The business had revenue of $274.00 million during the quarter, compared to analyst estimates of $287.90 million. During the same period in the previous year, the company posted $0.98 earnings per share. Sun Communities’s revenue was up 13.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Sun Communities Inc will post 4.84 EPS for the current year.



The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.55%. This is an increase from Sun Communities’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, March 28th. Sun Communities’s dividend payout ratio is presently 62.01%.

A number of hedge funds and other institutional investors have recently modified their holdings of SUI. First Trust Advisors LP lifted its holdings in Sun Communities by 75.3% in the 3rd quarter. First Trust Advisors LP now owns 39,157 shares of the real estate investment trust’s stock valued at $3,976,000 after acquiring an additional 16,818 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in Sun Communities during the third quarter valued at about $162,000. US Bancorp DE lifted its stake in Sun Communities by 13.4% during the third quarter. US Bancorp DE now owns 11,151 shares of the real estate investment trust’s stock valued at $1,132,000 after buying an additional 1,318 shares in the last quarter. Comerica Bank lifted its stake in Sun Communities by 165.4% during the third quarter. Comerica Bank now owns 20,756 shares of the real estate investment trust’s stock valued at $2,055,000 after buying an additional 12,935 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Sun Communities by 0.7% during the third quarter. Wells Fargo & Company MN now owns 532,429 shares of the real estate investment trust’s stock valued at $54,062,000 after buying an additional 3,604 shares in the last quarter. 93.48% of the stock is owned by institutional investors.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Citigroup set a $110.00 target price on shares of Sun Communities and gave the company a “hold” rating in a research report on Wednesday, December 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Sun Communities currently has an average rating of “Hold” and a consensus target price of $108.50.

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Sun Communities Company Profile

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.

See Also: Fundamental Analysis

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