Makena Capital Management adds Sun Communities Inc (SUI) to its portfolio

Sun Communities Inc (SUI) : Makena Capital Management added new position in Sun Communities Inc during the most recent quarter end. The investment management firm now holds 194,727 shares of Sun Communities Inc which is valued at $13.8 Million , the company said in a statement filed on May 13, 2016 with the SEC.Sun Communities Inc makes up approximately 3.34% of Makena Capital Management’s portfolio.

Other Hedge Funds, Including , Citadel Advisors boosted its stake in SUI in the latest quarter, The investment management firm added 238,362 additional shares and now holds a total of 294,048 shares of Sun Communities Inc which is valued at $20.8 Million. Sun Communities Inc makes up approx 0.06% of Citadel Advisors’s portfolio.Ubs Asset Management Americas Inc boosted its stake in SUI in the latest quarter, The investment management firm added 115,393 additional shares and now holds a total of 224,585 shares of Sun Communities Inc which is valued at $15.9 Million. Sun Communities Inc makes up approx 0.02% of Ubs Asset Management Americas Inc’s portfolio.Blackrock Japan Ltd boosted its stake in SUI in the latest quarter, The investment management firm added 24 additional shares and now holds a total of 3,078 shares of Sun Communities Inc which is valued at $218,076.Aperio Group reduced its stake in SUI by selling 104 shares or 1.67% in the most recent quarter. The Hedge Fund company now holds 6,112 shares of SUI which is valued at $414,821.

Sun Communities Inc closed down -0.18 points or -0.26% at $69.44 with 2,26,147 shares getting traded on Wednesday. Post opening the session at $69.78, the shares hit an intraday low of $68.7025 and an intraday high of $69.78 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Sun Communities Inc reported $0.90 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.89. The company had revenue of $174.60 million for the quarter, compared to analysts expectations of $156.43 million. The company’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS.

Many Wall Street Analysts have commented on Sun Communities Inc. Company shares were Upgraded by Robert W. Baird on Mar 30, 2016 to ” Outperform”, Firm has raised the Price Target to $ 74 from a previous price target of $67 .

Sun Communities Inc. (SHS) is a self-administered and self-managed real estate investment trust (REIT). The Company operates in two segments: Real Property Operations and Home Sales and Rentals. The Real Property Operations segment owns operates and develops manufactured housing (MH) and recreational vehicle (RV) throughout the United States and is in the business of acquiring operating and expanding MH and RV communities. The Home Sales and Rentals segment offers manufactured home sales and leasing services to tenants and prospective tenants of its communities. The Company owns and operates a portfolio of around 217 properties located in 29 states throughout the United States including 183 MH communities 25 RV communities and nine properties containing both MH and RV sites.

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