Legal & General Group Plc Grows Holdings in Sun Communities Inc (SUI)

Legal & General Group Plc raised its holdings in Sun Communities Inc (NYSE:SUI) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 292,027 shares of the real estate investment trust’s stock after acquiring an additional 1,688 shares during the period. Legal & General Group Plc owned approximately 0.34% of Sun Communities worth $29,702,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Utah Retirement Systems boosted its position in shares of Sun Communities by 0.6% during the fourth quarter. Utah Retirement Systems now owns 18,098 shares of the real estate investment trust’s stock valued at $1,840,000 after purchasing an additional 100 shares in the last quarter. MML Investors Services LLC boosted its holdings in Sun Communities by 3.4% in the fourth quarter. MML Investors Services LLC now owns 3,078 shares of the real estate investment trust’s stock worth $313,000 after acquiring an additional 100 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings 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. Metropolitan Life Insurance Co. NY boosted its holdings in Sun Communities by 2.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,652 shares of the real estate investment trust’s stock worth $677,000 after acquiring an additional 171 shares in the last quarter. Finally, Ffcm LLC bought a new stake in Sun Communities in the fourth quarter worth $26,000. 94.36% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Arthur A. Weiss purchased 257,179 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was bought at an average cost of $117.84 per share, with a total value of $30,305,973.36. Following the completion of the purchase, the director now owns 29,156 shares in the company, valued at $3,435,743.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan Colman sold 1,653 shares of the stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $114.00, for a total value of $188,442.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,912 shares of company stock valued at $1,985,363. Corporate insiders own 3.34% of the company’s stock.

Several research analysts have recently weighed in on the company. Zacks Investment Research upgraded Sun Communities from a “sell” rating to a “hold” rating in a research note on Tuesday, February 19th. Wells Fargo & Co cut Sun Communities from an “outperform” rating to a “market perform” rating and set a $118.00 price target for the company. in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $110.17.

Sun Communities stock opened at $120.01 on Tuesday. The firm has a market cap of $10.44 billion, a P/E ratio of 26.20, a PEG ratio of 4.10 and a beta of 0.31. Sun Communities Inc has a one year low of $90.32 and a one year high of $121.28.

Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.11 earnings per share (EPS) 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 company had revenue of $274.00 million for the quarter, compared to the consensus estimate of $287.90 million. During the same period in the prior year, the firm posted $0.98 EPS. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, equities analysts forecast that Sun Communities Inc will post 4.83 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.75 dividend. This is a positive change from Sun Communities’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.50%. Sun Communities’s dividend payout ratio is 65.50%.

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Sun Communities Company Profile

Sun Communities, Inc is a REIT that, as of December 31, 2018, owned, operated, or had an interest in a portfolio of 371 communities comprising over 128,000 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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