Tributary Capital Management LLC Lowers Stock Holdings in Sun Communities Inc (NYSE:SUI)

Tributary Capital Management LLC trimmed its stake in Sun Communities Inc (NYSE:SUI) by 7.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,050 shares of the real estate investment trust’s stock after selling 1,160 shares during the period. Tributary Capital Management LLC’s holdings in Sun Communities were worth $2,109,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in SUI. Vanguard Group Inc. boosted its position in Sun Communities by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 12,548,952 shares of the real estate investment trust’s stock valued at $1,608,650,000 after acquiring an additional 317,684 shares in the last quarter. BlackRock Inc. raised its position in shares of Sun Communities by 6.3% in the 2nd quarter. BlackRock Inc. now owns 7,433,229 shares of the real estate investment trust’s stock worth $952,867,000 after acquiring an additional 438,673 shares in the last quarter. State Street Corp lifted its stake in shares of Sun Communities by 5.9% during the 3rd quarter. State Street Corp now owns 4,506,293 shares of the real estate investment trust’s stock worth $672,284,000 after purchasing an additional 251,444 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Sun Communities by 557.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,170,073 shares of the real estate investment trust’s stock worth $278,181,000 after purchasing an additional 1,839,980 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Sun Communities by 6.9% during the second quarter. Invesco Ltd. now owns 1,602,305 shares of the real estate investment trust’s stock valued at $205,400,000 after purchasing an additional 103,473 shares in the last quarter. 92.54% of the stock is owned by institutional investors.

NYSE SUI opened at $154.66 on Friday. The firm has a market cap of $14.23 billion, a PE ratio of 33.77, a price-to-earnings-growth ratio of 3.46 and a beta of 0.17. The company has a 50 day moving average price of $153.21 and a 200 day moving average price of $148.47. Sun Communities Inc has a 52 week low of $104.19 and a 52 week high of $166.32.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $0.63 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.05). The firm had revenue of $362.44 million for the quarter, compared to the consensus estimate of $321.14 million. Sun Communities had a return on equity of 4.25% and a net margin of 11.62%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.35 EPS. Analysts anticipate that Sun Communities Inc will post 4.89 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $3.00 annualized dividend and a dividend yield of 1.94%. Sun Communities’s dividend payout ratio (DPR) is presently 65.50%.

Several equities analysts have issued reports on SUI shares. ValuEngine lowered Sun Communities from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a research report on Tuesday, December 31st.

In related news, CEO Gary A. Shiffman sold 115,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $159.00, for a total transaction of $18,285,000.00. Also, Director Brian M. Hermelin acquired 1,010 shares of Sun Communities stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average price of $148.48 per share, with a total value of $149,964.80. Following the purchase, the director now owns 15,000 shares in the company, valued at $2,227,200. The disclosure for this purchase can be found here. Insiders own 3.34% of the company’s stock.

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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