Picton Mahoney Asset Management Has $21.86 Million Stock Holdings in Sun Communities Inc (NYSE:SUI)

Picton Mahoney Asset Management decreased its position in shares of Sun Communities Inc (NYSE:SUI) by 7.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 170,530 shares of the real estate investment trust’s stock after selling 12,740 shares during the quarter. Sun Communities makes up approximately 1.5% of Picton Mahoney Asset Management’s holdings, making the stock its 20th largest holding. Picton Mahoney Asset Management owned about 0.19% of Sun Communities worth $21,860,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Hanseatic Management Services Inc. lifted its stake 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 valued at $171,000 after purchasing an additional 80 shares during the period. Optimum Investment Advisors lifted its stake 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 valued at $92,000 after purchasing an additional 100 shares during the period. Telemus Capital LLC lifted its stake 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 valued at $863,000 after purchasing an additional 134 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its stake 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 valued at $440,000 after purchasing an additional 148 shares during the period. Finally, Wetherby Asset Management Inc. lifted its stake in shares of Sun Communities by 7.5% in the 2nd quarter. Wetherby Asset Management Inc. now owns 3,226 shares of the real estate investment trust’s stock valued at $413,000 after purchasing an additional 225 shares during the period. 90.36% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have recently weighed in on the company. Zacks Investment Research downgraded Sun Communities from a “buy” rating to a “hold” rating in a research note on Wednesday, June 5th. BMO Capital Markets increased their price target on Sun Communities to $132.00 and gave the company an “outperform” rating in a research note on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Sun Communities currently has a consensus rating of “Hold” and a consensus target price of $118.67.

Sun Communities stock traded down $0.24 during mid-day trading on Friday, hitting $147.82. 414,940 shares of the company’s stock were exchanged, compared to its average volume of 441,348. The firm has a market capitalization of $13.31 billion, a P/E ratio of 32.28, a PEG ratio of 5.07 and a beta of 0.27. Sun Communities Inc has a fifty-two week low of $94.63 and a fifty-two week high of $149.54. The company’s 50 day simple moving average is $137.01 and its 200-day simple moving average is $125.14.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.67). The business had revenue of $312.45 million for the quarter, compared to analyst estimates of $295.20 million. Sun Communities had a return on equity of 4.01% and a net margin of 11.05%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 EPS. On average, sell-side analysts anticipate that Sun Communities Inc will post 4.87 earnings per share for the current fiscal year.

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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