Vision Capital Corp Boosts Position in Sun Communities Inc (NYSE:SUI)

Vision Capital Corp increased its stake in shares of Sun Communities Inc (NYSE:SUI) by 13.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 172,869 shares of the real estate investment trust’s stock after acquiring an additional 20,730 shares during the quarter. Sun Communities makes up 13.6% of Vision Capital Corp’s investment portfolio, making the stock its 4th largest position. Vision Capital Corp owned approximately 0.19% of Sun Communities worth $22,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of SUI. Hanseatic Management Services Inc. grew its position in shares of Sun Communities by 6.4% in the 2nd quarter. Hanseatic Management Services Inc. now owns 1,335 shares of the real estate investment trust’s stock worth $171,000 after buying an additional 80 shares during the last quarter. Optimum Investment Advisors grew its position in shares of Sun Communities by 14.8% in the 1st quarter. Optimum Investment Advisors now owns 775 shares of the real estate investment trust’s stock worth $92,000 after buying an additional 100 shares during the last quarter. Telemus Capital LLC grew its position in shares of Sun Communities by 1.9% in the 1st quarter. Telemus Capital LLC now owns 7,281 shares of the real estate investment trust’s stock worth $863,000 after buying an additional 134 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its position in shares of Sun Communities by 4.1% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,719 shares of the real estate investment trust’s stock worth $440,000 after buying an additional 148 shares during the last quarter. Finally, Tributary Capital Management LLC grew its position in shares of Sun Communities by 1.3% in the 1st quarter. Tributary Capital Management LLC now owns 15,680 shares of the real estate investment trust’s stock worth $1,858,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

SUI has been the topic of a number of recent analyst reports. BMO Capital Markets lifted their price objective on Sun Communities to $132.00 and gave the stock an “outperform” rating in a research report on Monday, June 3rd. Zacks Investment Research lowered Sun Communities from a “buy” rating to a “hold” rating in a research report on Wednesday, June 5th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Sun Communities has an average rating of “Hold” and a consensus target price of $118.67.

NYSE:SUI traded up $1.74 during trading hours on Tuesday, reaching $134.84. 4,473 shares of the company traded hands, compared to its average volume of 427,930. The firm has a 50-day moving average price of $132.00. The firm has a market capitalization of $12.07 billion, a PE ratio of 29.45, a P/E/G ratio of 4.66 and a beta of 0.27. Sun Communities Inc has a 1 year low of $94.63 and a 1 year high of $136.64.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.67). The company had revenue of $312.45 million for the quarter, compared to analysts’ expectations of $295.20 million. Sun Communities had a net margin of 11.05% and a return on equity of 4.01%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 EPS. As a group, research analysts predict that Sun Communities Inc will post 4.87 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Thursday, June 27th. Sun Communities’s payout ratio is 65.50%.

Sun Communities Company 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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Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

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