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

Sun Communities Inc (SUI) : Solaris Asset Management reduced its stake in Sun Communities Inc by 4.72% during the most recent quarter end. The investment management company now holds a total of 7,551 shares of Sun Communities Inc which is valued at $588,223 after selling 374 shares in Sun Communities Inc , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Sun Communities Inc makes up approximately 0.42% of Solaris Asset Management’s portfolio.

Other Hedge Funds, Including , American Century Companies Inc reduced its stake in SUI by selling 20,122 shares or 21.25% in the most recent quarter. The Hedge Fund company now holds 74,568 shares of SUI which is valued at $5,808,847. Sun Communities Inc makes up approx 0.01% of American Century Companies Inc’s portfolio. Norris Perne French Llpmi sold out all of its stake in SUI during the most recent quarter. The investment firm sold 2,800 shares of SUI which is valued $218,120.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. Cribstone Capital Management added SUI to its portfolio by purchasing 500 company shares during the most recent quarter which is valued at $37,810. Sun Communities Inc makes up approx 0.02% of Cribstone Capital Management’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 opened for trading at $78.58 and hit $79.8099 on the upside on Friday, eventually ending the session at $79.15, with a gain of 0.78% or 0.61 points. The heightened volatility saw the trading volume jump to 3,59,835 shares. Company has a market cap of $5,111 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.

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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