Anchor Capital Advisors Lowers stake in Sun Communities Inc (SUI)

Sun Communities Inc (SUI) : Anchor Capital Advisors reduced its stake in Sun Communities Inc by 3.94% during the most recent quarter end. The investment management company now holds a total of 993,708 shares of Sun Communities Inc which is valued at $77,509,224 after selling 40,753 shares in Sun Communities Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Sun Communities Inc makes up approximately 1.99% of Anchor Capital Advisors’s portfolio.

Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) boosted its stake in SUI in the latest quarter, The investment management firm added 622 additional shares and now holds a total of 3,153 shares of Sun Communities Inc which is valued at $245,934.State Of Alaska Department Of Revenue reduced its stake in SUI by selling 4,060 shares or 12.05% in the most recent quarter. The Hedge Fund company now holds 29,630 shares of SUI which is valued at $2,240,621. Sun Communities Inc makes up approx 0.23% of State Of Alaska Department Of Revenue’s portfolio.Adams Asset Advisors reduced its stake in SUI by selling 4,502 shares or 3.21% in the most recent quarter. The Hedge Fund company now holds 135,536 shares of SUI which is valued at $10,249,232. Sun Communities Inc makes up approx 1.71% of Adams Asset Advisors’s portfolio.

Sun Communities Inc closed down -0.45 points or -0.58% at $77.55 with 6,37,004 shares getting traded on Thursday. Post opening the session at $78.2, the shares hit an intraday low of $77.221 and an intraday high of $78.315 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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