AMP Capital Investors Ltd Sells 250,376 Shares of Sun Communities, Inc. (SUI)

AMP Capital Investors Ltd lowered its position in Sun Communities, Inc. (NYSE:SUI) by 32.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 517,358 shares of the real estate investment trust’s stock after selling 250,376 shares during the quarter. AMP Capital Investors Ltd owned about 0.65% of Sun Communities worth $44,328,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. QS Investors LLC boosted its stake in Sun Communities by 0.3% in the 2nd quarter. QS Investors LLC now owns 3,714 shares of the real estate investment trust’s stock worth $326,000 after purchasing an additional 10 shares during the period. People s United Financial Inc. boosted its stake in Sun Communities by 0.3% in the 2nd quarter. People s United Financial Inc. now owns 9,253 shares of the real estate investment trust’s stock worth $812,000 after purchasing an additional 30 shares during the period. Solaris Asset Management LLC boosted its stake in Sun Communities by 1.5% in the 2nd quarter. Solaris Asset Management LLC now owns 6,851 shares of the real estate investment trust’s stock worth $601,000 after purchasing an additional 100 shares during the period. NGAM Advisors L.P. boosted its stake in Sun Communities by 0.6% in the 2nd quarter. NGAM Advisors L.P. now owns 19,555 shares of the real estate investment trust’s stock worth $1,715,000 after purchasing an additional 119 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its stake in Sun Communities by 6.3% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,255 shares of the real estate investment trust’s stock worth $198,000 after purchasing an additional 133 shares during the period. 93.62% of the stock is owned by institutional investors.

Shares of Sun Communities, Inc. (SUI) traded up $0.47 on Thursday, hitting $94.54. The stock had a trading volume of 237,500 shares, compared to its average volume of 356,846. The company has a market cap of $7,463.75, a P/E ratio of 22.94, a PEG ratio of 3.59 and a beta of 0.27. Sun Communities, Inc. has a 12-month low of $71.62 and a 12-month high of $95.44.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.79. The firm had revenue of $268.20 million during the quarter, compared to the consensus estimate of $239.45 million. Sun Communities had a return on equity of 2.76% and a net margin of 7.37%. During the same quarter last year, the company posted $1.13 EPS. sell-side analysts forecast that Sun Communities, Inc. will post 4.16 earnings per share for the current fiscal year.

Several research analysts have commented on the company. ValuEngine downgraded Sun Communities from a “buy” rating to a “hold” rating in a research note on Tuesday. Evercore ISI upgraded Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 target price for the company in a research note on Monday. Robert W. Baird restated a “buy” rating and issued a $95.00 target price on shares of Sun Communities in a research note on Friday, September 8th. Zacks Investment Research upgraded Sun Communities from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. Finally, Royal Bank Of Canada lifted their price target on Sun Communities from $95.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, October 26th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $92.29.

In other Sun Communities news, Director Clunet R. Lewis sold 5,292 shares of Sun Communities stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $86.20, for a total value of $456,170.40. Following the transaction, the director now directly owns 18,800 shares of the company’s stock, valued at approximately $1,620,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Clunet R. Lewis sold 1,292 shares of Sun Communities stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $86.52, for a total value of $111,783.84. Following the completion of the transaction, the director now directly owns 18,800 shares in the company, valued at $1,626,576. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,584 shares of company stock worth $1,010,694. 4.15% of the stock is currently owned by insiders.

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Sun Communities Profile

Sun Communities, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is a fully integrated real estate company, which, together with its affiliates and predecessors, has been in the business of acquiring, operating, developing, and expanding manufactured housing (MH) and recreational vehicle (RV).

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Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

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