Sun Communities, Inc. $SUI Stock Bought by Yousif Capital Management LLC

Yousif Capital Management LLC lifted its position in shares of Sun Communities, Inc. (NYSE:SUI) by 489.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,581 shares of the real estate investment trust’s stock after buying an additional 30,371 shares during the quarter. Yousif Capital Management LLC’s holdings in Sun Communities were worth $4,052,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Sun Communities during the second quarter worth approximately $1,649,715,000. Dimensional Fund Advisors LP grew its stake in Sun Communities by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,812,301 shares of the real estate investment trust’s stock worth $228,280,000 after acquiring an additional 51,588 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Sun Communities by 2.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,536,249 shares of the real estate investment trust’s stock valued at $184,212,000 after acquiring an additional 31,497 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Sun Communities in the 2nd quarter valued at $156,841,000. Finally, Legal & General Group Plc acquired a new position in Sun Communities in the 2nd quarter valued at $122,737,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Morgan Stanley reduced their price target on Sun Communities from $135.00 to $126.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 12th. UBS Group reaffirmed a “neutral” rating on shares of Sun Communities in a research report on Tuesday. Wells Fargo & Company dropped their target price on Sun Communities from $141.00 to $136.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Mizuho dropped their target price on Sun Communities from $137.00 to $136.00 and set an “outperform” rating for the company in a research note on Monday, September 21st. Finally, Royal Bank Of Canada reduced their target price on Sun Communities from $148.00 to $140.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Sun Communities presently has an average rating of “Moderate Buy” and a consensus price target of $137.05.

Sun Communities Price Performance

SUI opened at $119.84 on Tuesday. The company has a fifty day simple moving average of $116.95 and a 200 day simple moving average of $123.73. The firm has a market cap of $14.60 billion, a price-to-earnings ratio of -16.90, a PEG ratio of 5.14 and a beta of 0.76. Sun Communities, Inc. has a twelve month low of $109.77 and a twelve month high of $137.85. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.70.

Sun Communities (NYSE:SUI) last announced its earnings results on Monday, October 26th. The real estate investment trust reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $1.10. Sun Communities had a positive return on equity of 2.63% and a negative net margin of 39.03%. The company had revenue of $558.20 million for the quarter, compared to analyst estimates of $563.59 million. During the same period in the prior year, the company posted $2.28 EPS. Sun Communities’s quarterly revenue was up .4% on a year-over-year basis. Equities research analysts expect that Sun Communities, Inc. will post 7.03 EPS for the current fiscal year.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Wednesday, September 30th. Sun Communities’s dividend payout ratio is -63.19%.

Sun Communities Profile

Sun Communities, Inc (NYSE:SUI) is a real estate investment trust that owns, operates and develops manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company provides residential sites for manufactured homes, seasonal and long-term RV accommodations, and marina facilities that include boat slips and related storage services.

Sun Communities also offers vacation accommodations and amenities such as swimming pools, clubhouses, recreational facilities and community services.