First Hawaiian Bank raised its holdings in Sun Communities Inc (NYSE:SUI) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,690 shares of the real estate investment trust’s stock after acquiring an additional 100 shares during the period. First Hawaiian Bank’s holdings in Sun Communities were worth $1,267,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in Sun Communities by 57.8% during the third quarter. JPMorgan Chase & Co. now owns 156,207 shares of the real estate investment trust’s stock worth $15,861,000 after buying an additional 57,194 shares during the period. Prudential Financial Inc. lifted its position in shares of Sun Communities by 530.7% during the third quarter. Prudential Financial Inc. now owns 31,077 shares of the real estate investment trust’s stock worth $3,156,000 after purchasing an additional 26,150 shares in the last quarter. AXA acquired a new stake in shares of Sun Communities during the third quarter worth about $2,142,000. PNC Financial Services Group Inc. lifted its position in shares of Sun Communities by 112.2% during the third quarter. PNC Financial Services Group Inc. now owns 10,525 shares of the real estate investment trust’s stock worth $1,067,000 after purchasing an additional 5,564 shares in the last quarter. Finally, Martingale Asset Management L P lifted its position in shares of Sun Communities by 4.6% during the third quarter. Martingale Asset Management L P now owns 261,935 shares of the real estate investment trust’s stock worth $26,598,000 after purchasing an additional 11,504 shares in the last quarter. 94.31% of the stock is owned by hedge funds and other institutional investors.
Shares of SUI traded down $0.13 during mid-day trading on Friday, hitting $122.11. 518,550 shares of the company’s stock were exchanged, compared to its average volume of 368,938. The stock has a market capitalization of $10.56 billion, a PE ratio of 26.66, a P/E/G ratio of 4.08 and a beta of 0.31. Sun Communities Inc has a fifty-two week low of $91.03 and a fifty-two week high of $123.54.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.75 per share. The ex-dividend date was Thursday, March 28th. This represents a $3.00 dividend on an annualized basis and a yield of 2.46%. This is a boost from Sun Communities’s previous quarterly dividend of $0.71. Sun Communities’s dividend payout ratio (DPR) is presently 65.50%.
In related news, Director Arthur A. Weiss acquired 257,179 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were bought at an average price of $117.84 per share, with a total value of $30,305,973.36. Following the completion of the acquisition, the director now owns 29,156 shares in the company, valued at $3,435,743.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan Colman sold 1,653 shares of the firm’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 transaction of $188,442.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,912 shares of company stock worth $1,985,363. 3.34% of the stock is owned by corporate insiders.
SUI has been the topic of several research reports. Zacks Investment Research cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, February 12th. Wells Fargo & Co cut shares of Sun Communities from an “outperform” rating to a “market perform” rating and set a $118.00 price target on the stock. in a research report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $110.17.
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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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