ProShare Advisors LLC Buys 4,629 Shares of Sun Communities, Inc. $SUI

ProShare Advisors LLC bought a new position in shares of Sun Communities, Inc. (NYSE:SUI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,629 shares of the real estate investment trust’s stock, valued at approximately $513,000.

Several other hedge funds have also made changes to their positions in SUI. Gibbs Wealth Management raised its position in shares of Sun Communities by 3.7% during the 3rd quarter. Gibbs Wealth Management now owns 2,547 shares of the real estate investment trust’s stock valued at $282,000 after buying an additional 90 shares during the period. Capital Square LLC raised its holdings in Sun Communities by 1.8% in the 3rd quarter. Capital Square LLC now owns 7,898 shares of the real estate investment trust’s stock valued at $875,000 after buying an additional 136 shares during the period. Empowered Funds LLC lifted its position in Sun Communities by 5.3% in the first quarter. Empowered Funds LLC now owns 3,456 shares of the real estate investment trust’s stock valued at $435,000 after buying an additional 175 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Sun Communities by 1.9% during the first quarter. Cetera Investment Advisers now owns 10,629 shares of the real estate investment trust’s stock valued at $1,339,000 after acquiring an additional 199 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Sun Communities by 42.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 694 shares of the real estate investment trust’s stock valued at $83,000 after acquiring an additional 207 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Bank of America upgraded Sun Communities from an “underperform” rating to a “neutral” rating and set a $140.00 price target for the company in a research report on Thursday, August 27th. Royal Bank Of Canada lowered their price objective on shares of Sun Communities from $148.00 to $140.00 and set an “outperform” rating for the company in a research note on Tuesday, October 13th. UBS Group reissued a “neutral” rating on shares of Sun Communities in a research report on Tuesday, October 27th. Citigroup reiterated a “market outperform” rating on shares of Sun Communities in a research note on Tuesday, November 3rd. Finally, Evercore reissued an “outperform” rating on shares of Sun Communities in a research note on Wednesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.25.

Sun Communities Stock Down 0.0%

Shares of NYSE:SUI opened at $120.26 on Tuesday. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.69. The firm has a 50 day simple moving average of $115.65 and a 200-day simple moving average of $123.26. The company has a market capitalization of $14.36 billion, a PE ratio of 17.34, a P/E/G ratio of 6.14 and a beta of 0.75. Sun Communities, Inc. has a twelve month low of $109.77 and a twelve month high of $137.85.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Sun Communities had a positive return on equity of 5.02% and a negative net margin of 36.00%. The company had revenue of $558.20 million for the quarter, compared to analyst estimates of $563.59 million. During the same quarter last year, the company posted $2.28 earnings per share. The business’s quarterly revenue was up .4% compared to the same quarter last year. On average, equities analysts predict that Sun Communities, Inc. will post 7.03 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a dividend of $1.12 per share. The ex-dividend date was Wednesday, September 30th. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. Sun Communities’s dividend payout ratio is currently -72.73%.

About Sun Communities

Sun Communities, Inc is a real estate investment trust that owns and operates manufactured housing communities, recreational vehicle (RV) communities and resorts, and marinas. Its properties serve long-term residents as well as vacationers and boaters, with offerings that include home sites, RV accommodations, boat slips and related amenities.

Founded in 1975, the company has expanded beyond its original manufactured housing business through acquisitions and development. Its portfolio spans the United States, Canada and the United Kingdom.

Sun Communities is headquartered in Southfield, Michigan.