Green Street Investors LLC boosted its stake in Sun Communities Inc (NYSE:SUI) by 4.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 68,800 shares of the real estate investment trust’s stock after buying an additional 2,900 shares during the quarter. Sun Communities comprises approximately 3.9% of Green Street Investors LLC’s portfolio, making the stock its 13th biggest holding. Green Street Investors LLC’s holdings in Sun Communities were worth $6,998,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the stock. Lindbrook Capital LLC acquired a new stake in Sun Communities in the 4th quarter valued at approximately $31,000. First Trust Advisors LP increased its holdings in Sun Communities by 3.9% in the 4th quarter. First Trust Advisors LP now owns 40,674 shares of the real estate investment trust’s stock valued at $4,137,000 after purchasing an additional 1,517 shares during the last quarter. Greenleaf Trust increased its holdings in Sun Communities by 33.2% in the 4th quarter. Greenleaf Trust now owns 3,251 shares of the real estate investment trust’s stock valued at $331,000 after purchasing an additional 810 shares during the last quarter. Eaton Vance Management increased its holdings in Sun Communities by 0.5% in the 4th quarter. Eaton Vance Management now owns 70,338 shares of the real estate investment trust’s stock valued at $7,154,000 after purchasing an additional 338 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in Sun Communities by 117.0% in the 4th quarter. Prudential Financial Inc. now owns 67,438 shares of the real estate investment trust’s stock valued at $6,859,000 after purchasing an additional 36,361 shares during the last quarter. 93.82% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the stock. Citigroup lifted their target price on shares of Sun Communities from $100.00 to $105.00 and gave the company a “hold” rating in a report on Monday, October 29th. Zacks Investment Research downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Tuesday, February 12th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $108.50.
Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.80. The business had revenue of $274.00 million during the quarter, compared to the consensus estimate of $287.90 million. Sun Communities had a net margin of 10.16% and a return on equity of 3.95%. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Sell-side analysts forecast that Sun Communities Inc will post 4.59 EPS for the current year.
In other Sun Communities news, COO John Bandini Mclaren sold 2,400 shares of the business’s stock in a transaction on Friday, November 30th. The shares were sold at an average price of $103.42, for a total value of $248,208.00. Following the completion of the transaction, the chief operating officer now owns 152,624 shares in the company, valued at $15,784,374.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.69% of the company’s stock.
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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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