743,250 Sun Communities, Inc. $SUI Shares Bought by Aberdeen Group plc

Key Points

• Aberdeen Group increased its Sun Communities stake by 529.6% in the third quarter, adding 743,250 shares to hold 883,587 shares worth about $97.9 million.
• Institutional investors and hedge funds own 99.59% of Sun Communities. The REIT reported quarterly EPS of $2.35, topping estimates, while revenue of $558.2 million fell short of forecasts.
• Analysts give the stock a consensus “Moderate Buy” rating, with an average price target of $135.65; shares opened at $118.60 in the reported session.

Aberdeen Group plc lifted its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 529.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 883,587 shares of the real estate investment trust's stock after buying an additional 743,250 shares during the period. Aberdeen Group plc owned approximately 0.74% of Sun Communities worth $97,884,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SUI. Engineers Gate Manager LP raised its position in Sun Communities by 5,319.8% in the second quarter. Engineers Gate Manager LP now owns 227,305 shares of the real estate investment trust's stock worth $27,256,000 after acquiring an additional 223,111 shares in the last quarter. National Pension Service lifted its holdings in Sun Communities by 164.0% in the 2nd quarter. National Pension Service now owns 25,236 shares of the real estate investment trust's stock valued at $3,026,000 after acquiring an additional 15,678 shares during the last quarter. BlackRock Inc. acquired a new stake in Sun Communities in the 2nd quarter valued at about $1,649,715,000. The Manufacturers Life Insurance Company acquired a new stake in Sun Communities in the 2nd quarter valued at about $3,805,000. Finally, Korea Investment CORP bought a new position in shares of Sun Communities during the 2nd quarter valued at about $8,539,000. Institutional investors and hedge funds own 99.59% of the company's stock.

Sun Communities Price Performance

NYSE SUI opened at $118.60 on Friday. The stock's 50-day moving average price is $115.43 and its two-hundred day moving average price is $123.10. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.69. The company has a market cap of $14.16 billion, a PE ratio of -19.25, a PEG ratio of 5.95 and a beta of 0.75. Sun Communities, Inc. has a 1 year low of $109.77 and a 1 year high of $137.85.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.05. Sun Communities had a negative net margin of 36.00% and a positive return on equity of 5.02%. The company had revenue of $558.20 million during the quarter, compared to analyst estimates of $563.59 million. During the same period in the prior year, the firm earned $2.28 earnings per share. The business's quarterly revenue was up .4% on a year-over-year basis. On average, analysts predict that Sun Communities, Inc. will post 7.03 EPS for the current year.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Wednesday, September 30th. Sun Communities's dividend payout ratio is -72.73%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SUI shares. Morgan Stanley lowered their price objective on shares of 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. Weiss Ratings downgraded shares of Sun Communities from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, November 4th. Royal Bank Of Canada cut their target price on shares of Sun Communities from $148.00 to $140.00 and set an "outperform" rating for the company in a research note on Tuesday, October 13th. Evercore reissued an "outperform" rating on shares of Sun Communities in a research note on Wednesday, October 28th. Finally, Bank of America upgraded shares of Sun Communities from an "underperform" rating to a "neutral" rating and set a $140.00 target price for the company in a report on Thursday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $135.65.

Sun Communities Company Profile

Sun Communities, Inc. is a real estate investment trust that owns and operates manufactured housing communities, recreational vehicle (RV) communities and resorts, and marinas. Its properties serve long-term residents as well as vacationers and boaters, with offerings that include home sites, RV accommodations, boat slips and related amenities. Founded in 1975, the company has expanded beyond its original manufactured housing business through acquisitions and development. Its portfolio spans the United States, Canada and the United Kingdom.

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