Vestmark Advisory Solutions Inc. Cuts Stock Position in Sun Communities Inc (NYSE:SUI)

Vestmark Advisory Solutions Inc. lessened its stake in Sun Communities Inc (NYSE:SUI) by 6.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,051 shares of the real estate investment trust’s stock after selling 137 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Sun Communities were worth $263,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SUI. Whittier Trust Co. purchased a new stake in Sun Communities in the 2nd quarter worth $82,000. Altshuler Shaham Ltd increased its holdings in Sun Communities by 94.1% in the 2nd quarter. Altshuler Shaham Ltd now owns 720 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 349 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Sun Communities in the 2nd quarter worth $115,000. AdvisorNet Financial Inc increased its holdings in Sun Communities by 351.0% in the 2nd quarter. AdvisorNet Financial Inc now owns 902 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 702 shares in the last quarter. Finally, Focused Wealth Management Inc purchased a new stake in Sun Communities in the 2nd quarter worth $128,000. 92.85% of the stock is owned by institutional investors.

In other news, CFO Karen Dearing sold 11,204 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $148.50, for a total transaction of $1,663,794.00. Following the completion of the sale, the chief financial officer now owns 110,126 shares of the company’s stock, valued at $16,353,711. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO John Bandini Mclaren sold 7,410 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $146.74, for a total transaction of $1,087,343.40. Following the sale, the chief operating officer now directly owns 120,483 shares of the company’s stock, valued at approximately $17,679,675.42. The disclosure for this sale can be found here. Insiders have sold 18,871 shares of company stock valued at $2,789,063 in the last ninety days. Insiders own 3.34% of the company’s stock.

Several equities research analysts recently commented on SUI shares. Wells Fargo & Co boosted their price target on shares of Sun Communities from $118.00 to $137.00 and gave the stock a “market perform” rating in a report on Wednesday, September 18th. Zacks Investment Research lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Finally, ValuEngine lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $136.25.

NYSE SUI traded up $1.38 on Friday, hitting $152.31. The company had a trading volume of 3,846 shares, compared to its average volume of 699,593. The company has a market capitalization of $13.47 billion, a PE ratio of 33.21, a PEG ratio of 5.05 and a beta of 0.22. The company’s fifty day moving average price is $147.72 and its 200-day moving average price is $131.87. Sun Communities Inc has a 12-month low of $94.63 and a 12-month high of $151.88.

Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.67). Sun Communities had a return on equity of 4.01% and a net margin of 11.05%. The business had revenue of $312.45 million for the quarter, compared to analysts’ expectations of $295.20 million. During the same period in the previous year, the company earned $1.07 EPS. Sun Communities’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, equities research analysts predict that Sun Communities Inc will post 4.88 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Friday, September 27th. Sun Communities’s payout ratio is 65.50%.

Sun Communities Company Profile

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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