American Assets Capital Advisers Lowers stake in Sun Communities Inc (SUI)

Sun Communities Inc (SUI) : American Assets Capital Advisers reduced its stake in Sun Communities Inc by 0.35% during the most recent quarter end. The investment management company now holds a total of 82,863 shares of Sun Communities Inc which is valued at $6,525,461 after selling 291 shares in Sun Communities Inc , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Sun Communities Inc makes up approximately 4.09% of American Assets Capital Advisers’s portfolio.

Other Hedge Funds, Including , Forsta Ap-fonden boosted its stake in SUI in the latest quarter, The investment management firm added 22,200 additional shares and now holds a total of 31,100 shares of Sun Communities Inc which is valued at $2,428,910. Sun Communities Inc makes up approx 0.07% of Forsta Ap-fonden’s portfolio.Shinko Asset Management Ltd. boosted its stake in SUI in the latest quarter, The investment management firm added 371,938 additional shares and now holds a total of 374,538 shares of Sun Communities Inc which is valued at $28,963,024. Sun Communities Inc makes up approx 0.20% of Shinko Asset Management Ltd.’s portfolio.Denali Advisors reduced its stake in SUI by selling 11,800 shares or 18.07% in the most recent quarter. The Hedge Fund company now holds 53,500 shares of SUI which is valued at $4,032,830. Sun Communities Inc makes up approx 0.68% of Denali Advisors’s portfolio.

Sun Communities Inc closed down -0.23 points or -0.30% at $77.06 with 2,84,211 shares getting traded on Friday. Post opening the session at $76.95, the shares hit an intraday low of $76.64 and an intraday high of $77.35 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Sun Communities Inc reported $0.85 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.83. The company had revenue of $190.80 million for the quarter, compared to analysts expectations of $165.78 million. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS.

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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