BNP Paribas Arbitrage SA Boosts Stake in Sun Communities Inc (SUI)

BNP Paribas Arbitrage SA boosted its stake in Sun Communities Inc (NYSE:SUI) by 256.4% during the first quarter, Holdings Channel reports. The institutional investor owned 40,139 shares of the real estate investment trust’s stock after buying an additional 28,877 shares during the period. BNP Paribas Arbitrage SA’s holdings in Sun Communities were worth $3,224,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SUI. Norges Bank purchased a new stake in Sun Communities during the fourth quarter valued at about $41,895,000. Russell Investments Group Ltd. purchased a new stake in Sun Communities during the fourth quarter valued at about $40,247,000. V3 Capital Management L.P. raised its stake in Sun Communities by 155.3% in the fourth quarter. V3 Capital Management L.P. now owns 608,425 shares of the real estate investment trust’s stock valued at $46,611,000 after buying an additional 370,150 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Sun Communities by 10.4% in the third quarter. Daiwa Securities Group Inc. now owns 3,470,648 shares of the real estate investment trust’s stock valued at $272,376,000 after buying an additional 327,096 shares in the last quarter. Finally, Perkins Investment Management LLC raised its stake in Sun Communities by 73.0% in the third quarter. Perkins Investment Management LLC now owns 557,075 shares of the real estate investment trust’s stock valued at $43,719,000 after buying an additional 235,022 shares in the last quarter. 99.24% of the stock is owned by institutional investors.

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

Sun Communities Inc (NYSE:SUI) traded down 0.18% on Friday, reaching $85.09. The company’s stock had a trading volume of 122,071 shares. The company has a market capitalization of $6.28 billion, a price-to-earnings ratio of 194.71 and a beta of 0.38. The firm has a 50-day moving average of $83.12 and a 200 day moving average of $78.69. Sun Communities Inc has a 12-month low of $67.95 and a 12-month high of $86.67.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.03. The business had revenue of $234.40 million during the quarter, compared to analysts’ expectations of $194.89 million. Sun Communities had a return on equity of 6.38% and a net margin of 16.21%. The business’s revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 earnings per share. On average, equities research analysts anticipate that Sun Communities Inc will post $1.04 EPS for the current fiscal year.

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SUI has been the subject of several recent analyst reports. Zacks Investment Research upgraded Sun Communities from a “sell” rating to a “hold” rating in a research note on Tuesday, March 14th. TheStreet upgraded Sun Communities from a “c+” rating to a “b-” rating in a research note on Wednesday, January 25th. Evercore ISI downgraded Sun Communities from a “buy” rating to a “hold” rating and upped their price target for the stock from $81.00 to $86.00 in a research note on Tuesday, February 28th. Finally, Citigroup Inc downgraded Sun Communities from a “buy” rating to a “neutral” rating and set a $86.00 price target for the company. in a research note on Monday, February 27th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $87.00.

In related news, Director Clunet R. Lewis sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $83.12, for a total transaction of $166,240.00. Following the completion of the sale, the director now directly owns 18,800 shares in the company, valued at $1,562,656. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Bandini Mclaren sold 980 shares of the business’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $73.49, for a total value of $72,020.20. Following the sale, the chief operating officer now owns 160,943 shares of the company’s stock, valued at $11,827,701.07. The disclosure for this sale can be found here. 5.14% of the stock is owned by insiders.

About Sun Communities

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).

5 Day Chart for NYSE:SUI

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).

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