Cadence Capital Management LLC Buys 1,540 Shares of Sun Communities, Inc. (SUI)
Cadence Capital Management LLC boosted its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 38.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,588 shares of the real estate investment trust’s stock after buying an additional 1,540 shares during the quarter. Cadence Capital Management LLC’s holdings in Sun Communities were worth $479,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE lifted its holdings in Sun Communities by 105.2% during the 2nd quarter. US Bancorp DE now owns 1,473 shares of the real estate investment trust’s stock worth $129,000 after buying an additional 755 shares during the period. Whitnell & Co. bought a new position in shares of Sun Communities in the 3rd quarter worth about $139,000. Public Employees Retirement Association of Colorado raised its position in shares of Sun Communities by 6.3% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,255 shares of the real estate investment trust’s stock worth $198,000 after acquiring an additional 133 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Sun Communities by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,299 shares of the real estate investment trust’s stock worth $202,000 after acquiring an additional 178 shares in the last quarter. Finally, Raymond James Trust N.A. bought a new position in shares of Sun Communities in the 2nd quarter worth about $224,000. 93.62% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Jonathan Colman sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $93.21, for a total value of $186,420.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Clunet R. Lewis sold 5,292 shares of the business’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $86.20, for a total value of $456,170.40. Following the completion of the sale, the director now directly owns 18,800 shares of the company’s stock, valued at $1,620,560. The disclosure for this sale can be found here. Insiders sold a total of 11,584 shares of company stock valued at $1,010,694 over the last ninety days. 4.15% of the stock is currently owned by corporate insiders.
Several research analysts have recently weighed in on SUI shares. BMO Capital Markets reissued a “buy” rating and issued a $96.00 price objective on shares of Sun Communities in a research report on Monday, October 23rd. Zacks Investment Research lowered Sun Communities from a “hold” rating to a “sell” rating in a research report on Thursday, October 19th. Royal Bank Of Canada lifted their price objective on Sun Communities from $95.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, October 26th. ValuEngine raised Sun Communities from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Robert W. Baird reissued a “buy” rating and issued a $95.00 price objective on shares of Sun Communities in a research report on Friday, September 8th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Sun Communities currently has a consensus rating of “Buy” and an average price target of $92.29.
Shares of Sun Communities, Inc. (NYSE SUI) traded down $0.95 during trading on Wednesday, reaching $94.07. The company had a trading volume of 264,100 shares, compared to its average volume of 357,356. Sun Communities, Inc. has a twelve month low of $71.50 and a twelve month high of $95.44. The company has a market cap of $7,539.13, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 3.63 and a beta of 0.27.
Sun Communities (NYSE:SUI) last issued its earnings results on Monday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.79. Sun Communities had a return on equity of 2.76% and a net margin of 7.37%. The business had revenue of $268.20 million during the quarter, compared to analyst estimates of $239.45 million. During the same period in the previous year, the company posted $1.13 EPS. research analysts forecast that Sun Communities, Inc. will post 4.16 EPS for the current year.
Sun Communities Company Profile
Sun Communities, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is a fully integrated real estate company, which, together with its affiliates and predecessors, has been in the business of acquiring, operating, developing, and expanding manufactured housing (MH) and recreational vehicle (RV).
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