Picton Mahoney Asset Management increased its holdings in shares of Sun Communities Inc (NYSE:SUI) by 14.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 195,400 shares of the real estate investment trust’s stock after purchasing an additional 24,400 shares during the period. Picton Mahoney Asset Management’s holdings in Sun Communities were worth $18,129,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Quantitative Systematic Strategies LLC lifted its position in shares of Sun Communities by 136.6% during the 4th quarter. Quantitative Systematic Strategies LLC now owns 7,255 shares of the real estate investment trust’s stock worth $673,000 after buying an additional 4,188 shares during the last quarter. Moody Aldrich Partners LLC bought a new stake in shares of Sun Communities during the 4th quarter worth $212,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Sun Communities by 22.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,650 shares of the real estate investment trust’s stock worth $617,000 after buying an additional 1,197 shares during the last quarter. Dupont Capital Management Corp bought a new stake in shares of Sun Communities during the 4th quarter worth $992,000. Finally, American Assets Capital Advisers LLC lifted its position in shares of Sun Communities by 19.4% during the 4th quarter. American Assets Capital Advisers LLC now owns 147,400 shares of the real estate investment trust’s stock worth $13,676,000 after buying an additional 24,000 shares during the last quarter. Institutional investors and hedge funds own 93.12% of the company’s stock.

Sun Communities Inc (SUI) opened at $87.61 on Friday. The company has a market capitalization of $7,048.79 and a PE ratio of 21.67. Sun Communities Inc has a 1 year low of $78.12 and a 1 year high of $96.08.

Sun Communities (NYSE:SUI) last posted its earnings results on Monday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, beating the consensus estimate of $0.34 by $0.79. The firm had revenue of $268.20 million during the quarter, compared to the consensus estimate of $239.45 million. Sun Communities had a return on equity of 2.76% and a net margin of 7.37%. During the same period last year, the company earned $1.13 earnings per share. equities analysts expect that Sun Communities Inc will post 4.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a $0.67 dividend. The ex-dividend date was Thursday, December 28th. This represents a $2.68 annualized dividend and a yield of 3.06%. Sun Communities’s dividend payout ratio is presently 362.16%.

Several analysts recently weighed in on SUI shares. BMO Capital Markets started coverage on Sun Communities in a research report on Monday, October 9th. They set an “outperform” rating and a $96.00 price objective for the company. Zacks Investment Research upgraded Sun Communities from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Wednesday, December 27th. ValuEngine upgraded Sun Communities from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Evercore ISI upgraded Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 price objective for the company in a research report on Monday, December 4th. Finally, Royal Bank of Canada upped 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. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $93.57.

In other Sun Communities news, EVP Jonathan Colman sold 2,000 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.15% of the stock is currently owned by company insiders.

TRADEMARK VIOLATION WARNING: “Sun Communities Inc (SUI) Position Increased by Picton Mahoney Asset Management” was posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this report can be read at https://theolympiareport.com/2018/02/02/sun-communities-inc-sui-position-increased-by-picton-mahoney-asset-management.html.

Sun Communities 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).

Want to see what other hedge funds are holding SUI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Communities Inc (NYSE:SUI).

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

Receive News & Ratings for Sun Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Communities and related companies with MarketBeat.com's FREE daily email newsletter.