PNC Financial Services Group Inc. Reduces Holdings in Sun Communities Inc (SUI)

PNC Financial Services Group Inc. cut its holdings in Sun Communities Inc (NYSE:SUI) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,770 shares of the real estate investment trust’s stock after selling 755 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Sun Communities were worth $994,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Quadrant Capital Group LLC raised its position in Sun Communities by 20.9% in the fourth quarter. Quadrant Capital Group LLC now owns 838 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 145 shares in the last quarter. Lindbrook Capital LLC bought a new stake in Sun Communities in the fourth quarter worth about $31,000. Eaton Vance Management raised its position in Sun Communities by 0.5% in the fourth quarter. Eaton Vance Management now owns 70,338 shares of the real estate investment trust’s stock worth $7,154,000 after acquiring an additional 338 shares in the last quarter. IFP Advisors Inc increased its stake in Sun Communities by 13.5% in the 4th quarter. IFP Advisors Inc now owns 3,208 shares of the real estate investment trust’s stock worth $323,000 after purchasing an additional 382 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Sun Communities by 5.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 8,300 shares of the real estate investment trust’s stock worth $844,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 93.48% of the company’s stock.

NYSE:SUI opened at $117.61 on Friday. Sun Communities Inc has a fifty-two week low of $88.30 and a fifty-two week high of $121.28. The stock has a market cap of $10.18 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 4.00 and a beta of 0.31.



Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, February 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $287.90 million. During the same period last year, the firm earned $0.98 EPS. The company’s revenue was up 13.2% compared to the same quarter last year. As a group, equities research analysts forecast that Sun Communities Inc will post 4.84 earnings per share for the current year.

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

In other Sun Communities news, CEO Gary A. Shiffman sold 12,859 shares of Sun Communities stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $117.84, for a total transaction of $1,515,304.56. Following the transaction, the chief executive officer now owns 1,418,466 shares of the company’s stock, valued at approximately $167,152,033.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arthur A. Weiss bought 257,179 shares of the stock in a transaction on Tuesday, March 12th. The shares were acquired at an average cost of $117.84 per share, for a total transaction of $30,305,973.36. Following the purchase, the director now owns 29,156 shares in the company, valued at $3,435,743.04. The disclosure for this purchase can be found here. Insiders own 3.69% of the company’s stock.

A number of equities analysts recently weighed in on SUI shares. Zacks Investment Research raised Sun Communities from a “sell” rating to a “hold” rating in a research note on Tuesday, February 19th. Citigroup set a $110.00 price target on Sun Communities and gave the stock a “hold” rating in a research note on Wednesday, December 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $108.50.

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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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