Sun Communities (SUI) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Sun Communities (NYSE:SUI) by 4.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 76,278 shares of the real estate investment trust’s stock after buying an additional 3,539 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.10% of Sun Communities worth $6,970,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in SUI. American Century Companies Inc. boosted its holdings in Sun Communities by 3,848.1% in the 4th quarter. American Century Companies Inc. now owns 609,195 shares of the real estate investment trust’s stock valued at $56,521,000 after purchasing an additional 593,765 shares during the period. Bank of New York Mellon Corp boosted its holdings in Sun Communities by 25.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,197,655 shares of the real estate investment trust’s stock valued at $203,897,000 after purchasing an additional 452,380 shares during the period. Renaissance Technologies LLC boosted its holdings in Sun Communities by 52.1% in the 4th quarter. Renaissance Technologies LLC now owns 857,200 shares of the real estate investment trust’s stock valued at $79,531,000 after purchasing an additional 293,600 shares during the period. Wells Fargo & Company MN boosted its holdings in Sun Communities by 122.0% in the 1st quarter. Wells Fargo & Company MN now owns 514,864 shares of the real estate investment trust’s stock valued at $47,044,000 after purchasing an additional 282,940 shares during the period. Finally, Martingale Asset Management L P boosted its holdings in Sun Communities by 195.2% in the 4th quarter. Martingale Asset Management L P now owns 190,716 shares of the real estate investment trust’s stock valued at $17,696,000 after purchasing an additional 126,103 shares during the period. 98.92% of the stock is owned by institutional investors and hedge funds.

A number of research firms have issued reports on SUI. Zacks Investment Research downgraded shares of Sun Communities from a “buy” rating to a “hold” rating in a report on Wednesday, March 21st. Robert W. Baird raised shares of Sun Communities from a “neutral” rating to an “outperform” rating in a report on Wednesday, February 7th. ValuEngine raised shares of Sun Communities from a “hold” rating to a “buy” rating in a report on Thursday, March 15th. TheStreet upgraded shares of Sun Communities from a “c+” rating to a “b-” rating in a research report on Monday, April 23rd. Finally, BMO Capital Markets set a $97.00 target price on shares of Sun Communities and gave the company a “buy” rating in a research report on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Sun Communities presently has a consensus rating of “Buy” and an average price target of $95.17.

In other news, Director Clunet R. Lewis sold 2,200 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $87.84, for a total value of $193,248.00. Following the completion of the transaction, the director now directly owns 19,400 shares in the company, valued at approximately $1,704,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.69% of the stock is currently owned by insiders.

Shares of Sun Communities opened at $91.50 on Friday, Marketbeat reports. The company has a market capitalization of $7.41 billion, a PE ratio of 21.94, a PEG ratio of 3.23 and a beta of 0.11. Sun Communities has a 12 month low of $91.81 and a 12 month high of $92.70.

Sun Communities (NYSE:SUI) last issued its earnings results on Monday, April 23rd. The real estate investment trust reported $0.38 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.76). The firm had revenue of $259.90 million during the quarter, compared to analyst estimates of $242.51 million. Sun Communities had a net margin of 8.49% and a return on equity of 3.16%. Sun Communities’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.10 earnings per share. sell-side analysts predict that Sun Communities will post 4.54 earnings per share for the current fiscal year.

Sun Communities Profile

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

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