Two Sigma Investments LP increased its holdings in Sun Communities Inc (NYSE:SUI) by 34.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,147 shares of the real estate investment trust’s stock after acquiring an additional 7,747 shares during the quarter. Two Sigma Investments LP’s holdings in Sun Communities were worth $3,066,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc increased its holdings in shares of Sun Communities by 5.4% during the third quarter. Vanguard Group Inc now owns 11,641,879 shares of the real estate investment trust’s stock valued at $1,182,116,000 after acquiring an additional 600,622 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Sun Communities by 6.5% during the fourth quarter. BlackRock Inc. now owns 6,810,473 shares of the real estate investment trust’s stock valued at $692,694,000 after acquiring an additional 416,425 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Sun Communities by 37.0% during the third quarter. Renaissance Technologies LLC now owns 1,300,000 shares of the real estate investment trust’s stock valued at $132,002,000 after acquiring an additional 351,300 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Sun Communities by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,214,673 shares of the real estate investment trust’s stock valued at $123,542,000 after acquiring an additional 32,701 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Sun Communities by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 1,073,705 shares of the real estate investment trust’s stock valued at $109,206,000 after acquiring an additional 121,836 shares in the last quarter. 94.36% of the stock is owned by institutional investors.
NYSE:SUI traded up $1.65 during midday trading on Friday, hitting $119.24. The company’s stock had a trading volume of 476,516 shares, compared to its average volume of 343,063. Sun Communities Inc has a fifty-two week low of $90.32 and a fifty-two week high of $121.28. The company has a market cap of $10.30 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 4.06 and a beta of 0.31.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, March 28th. This is an increase from Sun Communities’s previous quarterly dividend of $0.71. Sun Communities’s dividend payout ratio is 65.50%.
In other Sun Communities news, CEO Gary A. Shiffman sold 12,859 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $117.84, for a total value of $1,515,304.56. Following the sale, the chief executive officer now owns 1,418,466 shares in the company, valued at approximately $167,152,033.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jonathan Colman sold 1,653 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The stock was 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 quarter, insiders sold 16,912 shares of company stock worth $1,985,363. 3.34% of the stock is owned by corporate insiders.
Several research firms have recently issued reports on SUI. Zacks Investment Research downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. Wells Fargo & Co downgraded shares of Sun Communities from an “outperform” rating to a “market perform” rating and set a $118.00 price objective on the stock. in a report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Sun Communities has a consensus rating of “Hold” and a consensus target price of $110.17.
Sun Communities 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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