Sun Communities Inc (SUI) : V3 Capital Management added new position in Sun Communities Inc during the most recent quarter end. The investment management firm now holds 238,275 shares of Sun Communities Inc which is valued at $17,370,248 , the company said in a statement filed on Nov 14, 2016 with the SEC.Sun Communities Inc makes up approximately 4.68% of V3 Capital Management’s portfolio.
Other Hedge Funds, Including , Woodmont Investment Counsel added SUI to its portfolio by purchasing 30 company shares during the most recent quarter which is valued at $2,187. Los Angeles Capital Management Equity Research Inc sold out all of its stake in SUI during the most recent quarter. The investment firm sold 6,765 shares of SUI which is valued $507,781.Forsta Ap-fonden reduced its stake in SUI by selling 4,700 shares or 15.11% in the most recent quarter. The Hedge Fund company now holds 26,400 shares of SUI which is valued at $2,011,152. Sun Communities Inc makes up approx 0.39% of Forsta Ap-fonden’s portfolio. Wagner Bowman Management Corp added SUI to its portfolio by purchasing 16,665 company shares during the most recent quarter which is valued at $1,293,537. Sun Communities Inc makes up approx 0.45% of Wagner Bowman Management Corp’s portfolio.
Sun Communities Inc opened for trading at $70.68 and hit $71.2 on the upside on Monday, eventually ending the session at $71.05, with a gain of 0.77% or 0.54 points. The heightened volatility saw the trading volume jump to 6,85,672 shares. Company has a market cap of $5,189 M.
On the company’s financial health, Sun Communities Inc reported $1.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Nov 1, 2016. Analyst had a consensus of $1.10. The company had revenue of $249.70 million for the quarter, compared to analysts expectations of $208.51 million. The company’s revenue was up 34.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS.
Many Wall Street Analysts have commented on Sun Communities Inc. Sun Communities Inc was Upgraded by Citigroup to ” Buy” on Sep 12, 2016.
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.