Martingale Asset Management L P boosted its position in Sun Communities Inc (NYSE:SUI) by 5.5% in the first quarter, Holdings Channel reports. The institutional investor owned 336,373 shares of the real estate investment trust’s stock after purchasing an additional 17,500 shares during the period. Martingale Asset Management L P’s holdings in Sun Communities were worth $39,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Hanseatic Management Services Inc. bought a new stake in Sun Communities during the first quarter worth about $149,000. Penserra Capital Management LLC bought a new stake in Sun Communities during the first quarter worth about $58,000. Great West Life Assurance Co. Can lifted its stake in Sun Communities by 1.6% during the first quarter. Great West Life Assurance Co. Can now owns 66,625 shares of the real estate investment trust’s stock worth $7,891,000 after purchasing an additional 1,065 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Sun Communities by 12.3% during the first quarter. JPMorgan Chase & Co. now owns 174,836 shares of the real estate investment trust’s stock worth $20,722,000 after purchasing an additional 19,151 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD increased its holdings in shares of Sun Communities by 4.1% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,719 shares of the real estate investment trust’s stock worth $440,000 after buying an additional 148 shares during the period. 91.15% of the stock is owned by institutional investors and hedge funds.

In other Sun Communities news, Director Arthur A. Weiss purchased 257,179 shares of Sun Communities stock in a transaction that occurred on Tuesday, March 12th. The shares were bought at an average price of $117.84 per share, for a total transaction of $30,305,973.36. Following the acquisition, the director now directly owns 29,156 shares in the company, valued at $3,435,743.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Colman sold 1,653 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $114.00, for a total value of $188,442.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,912 shares of company stock worth $1,985,363. Company insiders own 3.34% of the company’s stock.

Several research analysts have recently commented on SUI shares. Zacks Investment Research downgraded Sun Communities from a “hold” rating to a “sell” rating in a report on Tuesday, February 12th. Wells Fargo & Co downgraded Sun Communities from an “outperform” rating to a “market perform” rating and set a $118.00 price objective on the stock. in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $110.17.

Shares of SUI traded up $0.58 during trading hours on Thursday, hitting $124.86. The company had a trading volume of 1,449 shares, compared to its average volume of 473,617. The company has a market cap of $10.75 billion, a P/E ratio of 27.14, a P/E/G ratio of 4.38 and a beta of 0.31. Sun Communities Inc has a 52-week low of $92.10 and a 52-week high of $126.65.

Sun Communities (NYSE:SUI) last released its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.06. The firm had revenue of $287.33 million for the quarter, compared to the consensus estimate of $279.54 million. Sun Communities had a return on equity of 3.76% and a net margin of 10.00%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 earnings per share. Analysts expect that Sun Communities Inc will post 4.85 earnings per share for the current year.

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Sun Communities Profile

Sun Communities, Inc is a REIT that, as of March 31, 2019, owned, operated, or had an interest in a portfolio of 379 communities comprising over 132,000 developed sites in 31 states and Ontario, Canada.

Read More: Intrinsic Value and Stock Selection

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)

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