Adams Asset Advisors Lowers stake in Sun Communities Inc (SUI)

Sun Communities Inc (SUI) : Adams Asset Advisors reduced its stake in Sun Communities Inc by 1.16% during the most recent quarter end. The investment management company now holds a total of 140,038 shares of Sun Communities Inc which is valued at $9,693,430 after selling 1,640 shares in Sun Communities Inc , the firm said in a disclosure report filed with the SEC on Apr 14, 2016.Sun Communities Inc makes up approximately 1.75% of Adams Asset Advisors’s portfolio.

Sun Communities Inc opened for trading at $69.29 and hit $69.84 on the upside on Monday, eventually ending the session at $69.53, with a gain of 0.45% or 0.31 points. The heightened volatility saw the trading volume jump to 3,88,712 shares. Company has a market cap of $4,060 M.

Other Hedge Funds, Including , Simplex Trading sold out all of its stake in SUI during the most recent quarter. The investment firm sold 244 shares of SUI which is valued $16,890.1st Global Advisors boosted its stake in SUI in the latest quarter, The investment management firm added 2,135 additional shares and now holds a total of 6,106 shares of Sun Communities Inc which is valued at $422,657. Sun Communities Inc makes up approx 0.06% of 1st Global Advisors’s portfolio.Creative Planning reduced its stake in SUI by selling 225 shares or 32.8% in the most recent quarter. The Hedge Fund company now holds 461 shares of SUI which is valued at $32,869.

On the company’s financial health, Sun Communities Inc reported $0.81 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Feb 23, 2016. Analyst had a consensus of $0.85. The company had revenue of $168.24 million for the quarter, compared to analysts expectations of $136.47 million. The company’s revenue was up 37.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 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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