Netols Asset Management Lowers stake in Sun Communities Inc (SUI)

Sun Communities Inc (SUI) : Netols Asset Management reduced its stake in Sun Communities Inc by 2.78% during the most recent quarter end. The investment management company now holds a total of 142,175 shares of Sun Communities Inc which is valued at $10.1 Million after selling 4,064 shares in Sun Communities Inc , the firm said in a disclosure report filed with the SEC on May 12, 2016.Sun Communities Inc makes up approximately 2.29% of Netols Asset Management’s portfolio.

Other Hedge Funds, Including , Daiwa Securities Group boosted its stake in SUI in the latest quarter, The investment management firm added 447,536 additional shares and now holds a total of 3,083,268 shares of Sun Communities Inc which is valued at $218.4 Million. Sun Communities Inc makes up approx 1.42% of Daiwa Securities Group’s portfolio.Solaris Asset Management reduced its stake in SUI by selling 275 shares or 3.35% in the most recent quarter. The Hedge Fund company now holds 7,925 shares of SUI which is valued at $561,486. Sun Communities Inc makes up approx 0.39% of Solaris Asset Management’s portfolio.Bronfman E.l. Rothschild reduced its stake in SUI by selling 4 shares or 4.49% in the most recent quarter. The Hedge Fund company now holds 85 shares of SUI which is valued at $6,089.Proshare Advisors reduced its stake in SUI by selling 5,309 shares or 18.79% in the most recent quarter. The Hedge Fund company now holds 22,947 shares of SUI which is valued at $1.6 Million. Sun Communities Inc makes up approx 0.02% of Proshare Advisors’s portfolio.

Sun Communities Inc opened for trading at $68.62 and hit $69.38 on the upside on Friday, eventually ending the session at $69.35, with a gain of 1.63% or 1.11 points. The heightened volatility saw the trading volume jump to 3,98,223 shares. Company has a market cap of $4,478 M.

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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