Victory Capital Management Inc. decreased its holdings in Sun Communities Inc (NYSE:SUI) by 14.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 224,482 shares of the real estate investment trust’s stock after selling 39,095 shares during the quarter. Victory Capital Management Inc.’s holdings in Sun Communities were worth $26,606,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Ffcm LLC acquired a new stake in Sun Communities in the fourth quarter valued at $26,000. Lindbrook Capital LLC acquired a new stake in Sun Communities in the fourth quarter valued at $31,000. Quadrant Capital Group LLC grew 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 valued at $81,000 after purchasing an additional 145 shares during the last quarter. Executive Wealth Management LLC acquired a new stake in Sun Communities in the fourth quarter valued at $102,000. Finally, Virginia National Bank acquired a new stake in Sun Communities in the first quarter valued at $214,000. Hedge funds and other institutional investors own 93.94% of the company’s stock.
Shares of SUI traded up $0.22 during trading hours on Friday, reaching $125.36. 406,234 shares of the company traded hands, compared to its average volume of 450,711. The firm has a market cap of $10.83 billion, a P/E ratio of 27.37, a PEG ratio of 4.41 and a beta of 0.31. Sun Communities Inc has a fifty-two week low of $91.16 and a fifty-two week high of $126.65.
Several analysts have weighed in on the company. Zacks Investment Research lowered Sun Communities from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th. Wells Fargo & Co lowered Sun Communities from an “outperform” rating to a “market perform” rating and set a $118.00 target price on the stock. in a report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $110.17.
In related news, Director Clunet R. Lewis sold 2,400 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $117.34, for a total transaction of $281,616.00. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at $2,346,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Arthur A. Weiss acquired 257,179 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were bought at an average cost of $117.84 per share, for a total transaction of $30,305,973.36. Following the purchase, the director now owns 29,156 shares of the company’s stock, valued at $3,435,743.04. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 16,912 shares of company stock worth $1,985,363. Corporate insiders own 3.34% of the company’s stock.
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Sun Communities Profile
Sun Communities, Inc is a REIT that, as of March 31, 2019, owned, operated, or had an interest in a portfolio of 379 communities comprising over 132,000 developed sites in 31 states and Ontario, Canada.
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