Sun Communities, Inc. $SUI Shares Newly Purchased by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings purchased 9,706 shares of Sun Communities during the third quarter, valued at approximately $1.08 million. Institutional investors collectively own 99.59% of the REIT’s outstanding stock.
• Analysts maintain a generally positive outlook, with Sun Communities carrying a consensus “Moderate Buy” rating and an average price target of $137.05, above its reported trading price of $119.84.
• Sun Communities reported third-quarter EPS of $2.35, surpassing estimates of $1.25, while revenue totaled $558.2 million. The company also paid a quarterly dividend of $1.12, equivalent to a 3.7% annualized yield.

Crossmark Global Holdings Inc. bought a new position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,706 shares of the real estate investment trust's stock, valued at approximately $1,075,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CX Institutional increased its stake in shares of Sun Communities by 1,076.7% in the 3rd quarter. CX Institutional now owns 353 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 323 shares in the last quarter. Oslo Pensjonsforsikring AS bought a new position in shares of Sun Communities during the first quarter valued at approximately $49,000. Avalon Trust Co bought a new position in shares of Sun Communities during the second quarter valued at approximately $61,000. V Square Quantitative Management LLC lifted its holdings in shares of Sun Communities by 36.7% during the first quarter. V Square Quantitative Management LLC now owns 548 shares of the real estate investment trust's stock valued at $69,000 after purchasing an additional 147 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Sun Communities in the 2nd quarter worth approximately $72,000. Hedge funds and other institutional investors own 99.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SUI shares. Odeon Capital Group set a $135.00 price objective on Sun Communities in a research report on Thursday, July 9th. Royal Bank Of Canada reduced their price objective 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. Wells Fargo & Company reduced their price objective on shares of Sun Communities from $141.00 to $136.00 and set an "overweight" rating for the company in a research note on Monday, October 19th. Wall Street Zen cut shares of Sun Communities from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Finally, Jefferies Financial Group raised shares of Sun Communities to a "strong-buy" rating in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $137.05.

Sun Communities Trading Down 0.3%

Shares of NYSE:SUI opened at $119.84 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.52 and a quick ratio of 2.52. Sun Communities, Inc. has a 1 year low of $109.77 and a 1 year high of $137.85. The company has a market cap of $14.60 billion, a P/E ratio of 17.38, a PEG ratio of 5.14 and a beta of 0.76. The stock's fifty day moving average price is $116.95 and its 200-day moving average price is $123.73.

Sun Communities (NYSE:SUI - Get Free Report) last released its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $2.35 EPS for the quarter, topping the consensus estimate of $1.25 by $1.10. Sun Communities had a positive return on equity of 2.63% and a negative net margin of 39.03%. The company had revenue of $558.20 million during the quarter, compared to the consensus estimate of $563.59 million. During the same period last year, the company earned $2.28 EPS. Sun Communities's revenue for the quarter was up .4% on a year-over-year basis. Sell-side analysts expect that Sun Communities, Inc. will post 7.03 earnings per share for the current year.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a $1.12 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $4.48 annualized dividend and a yield of 3.7%. Sun Communities's dividend payout ratio (DPR) is currently -63.19%.

About Sun Communities

Sun Communities, Inc NYSE: SUI is a real estate investment trust that owns, operates and develops manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company provides residential sites for manufactured homes, seasonal and long-term RV accommodations, and marina facilities that include boat slips and related storage services.

Sun Communities also offers vacation accommodations and amenities such as swimming pools, clubhouses, recreational facilities and community services.

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