Traders buy high volume of call options on Sun communities (NYSE: SUI)
Sun Communities, Inc. (NYSE: SUI) was the recipient of unusually large options trading activity on Tuesday. Equity investors bought 2,058 call options on the stock. This is an increase of approximately 2,719% over the average daily volume of 73 call options.
In other Sun Communities news, COO John Bandini Mclaren sold 11,111 shares of Sun Communities in a trade on Friday, July 30. The shares were sold at an average price of $ 198.06, for a total transaction of $ 2,200,644.66. As a result of the sale, the COO now owns 152,847 shares of the company, valued at $ 30,272,876.82. The transaction was disclosed in a file with the Securities & Exchange Commission, accessible via this link. Additionally, CEO Gary A. Shiffman bought 234,934 shares of Sun Communities in a transaction dated Wednesday, July 28. The stock was purchased at an average price of $ 194.20 per share, for a total transaction of $ 45,624,182.80. Following the purchase, the CEO now directly owns 713,610 shares of the company, valued at approximately $ 138,583,062. Disclosure of this purchase can be found here. Company insiders own 2.72% of the company’s shares.
Several large investors have recently changed their positions in SUI. Bank of America Corp DE increased its position in shares of Sun Communities by 4.7% in the second quarter. Bank of America Corp DE now owns 1,054,594 shares of the REIT valued at $ 180,758,000 after purchasing an additional 47,488 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Sun Communities by 21.1% in the second quarter. Parametric Portfolio Associates LLC now owns 216,217 Real Estate Investment Trust shares worth $ 37,060,000 after acquiring an additional 37,703 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG increased its stake in Sun Communities by 30.6% in the second quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 1,755 real estate investment trust shares valued at $ 301,000 after purchasing an additional 411 shares in the last quarter. Comerica Bank increased its stake in Sun Communities by 0.6% during the 2nd quarter. Comerica Bank now owns 23,603 real estate investment trust shares valued at $ 4,661,000 after purchasing 131 additional shares in the last quarter. Finally, Heitman Real Estate Securities LLC increased its stake in Sun Communities by 30.0% during the second quarter. Heitman Real Estate Securities LLC now owns 553,772 real estate investment trust shares worth $ 94,917,000 after acquiring an additional 127,881 shares during the last quarter. 94.53% of the shares are held by institutional investors and hedge funds.
A number of research companies have recently weighed in on SUI. The UBS Group resumed coverage of Sun Communities in a research note on Thursday, June 3. They issued a âbuyâ note and a target price of $ 190.00 on the stock. Barclays began covering Sun Communities in a research note on Wednesday, September 1. They issued an “overweight” rating and a target price of $ 232.00 on the stock. Ultimately, Zacks investment research upgraded Sun Communities from a “conservation” rating to a “buy” rating and set a price target of $ 218.00 for the company in a research report released on Wednesday, August 11. One stock research analyst rated the stock with a conservation rating and nine issued a buy rating for the company’s stock. Based on data from MarketBeat, Sun Communities currently has a consensus rating of âBuyâ and a consensus target price of $ 184.38.
Sun Communities Stock traded down $ 0.17 at midday Tuesday, reaching $ 187.43. 478,836 shares of the company were traded, for an average volume of 574,408. Sun Communities has a 12-month low of $ 135.01 and a 12-month high of $ 209.98. The company has a fifty-day moving average of $ 196.98 and a 200-day moving average of $ 176.31. The company has a leverage ratio of 0.62, a quick ratio of 2.50 and a current ratio of 2.50. The company has a market cap of $ 21.72 billion, a P / E ratio of 88.91, a PEG ratio of 3.19 and a beta of 0.56.
Sun Communities (NYSE: SUI) last released its results on Sunday, July 25. The REIT reported EPS of $ 0.98 for the quarter, beating the Zacks’ consensus estimate of $ 0.60 by $ 0.38. Sun Communities reported a return on equity of 3.84% and a net margin of 12.26%. In the same quarter of the previous year, the company posted $ 0.60 in EPS. Sell-side analysts predict Sun Communities will post 6.33 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 15. Investors of record on Thursday, September 30 will receive a dividend of $ 0.83. The ex-dividend date of this dividend is Wednesday, September 29. This represents a dividend of $ 3.32 on an annualized basis and a return of 1.77%. Sun Communities’ dividend payout ratio (DPR) is currently 65.23%.
Sun Communities Company Profile
Sun Communities, Inc provides property management services. The company operates in the following segments: Real Estate Operations and Home Sales and Rentals. The Real Estate Operations segment owns, operates and develops manufactured housing communities and recreational vehicle communities across the United States and is engaged in the acquisition, operation and expansion of manufactured home communities and recreational vehicles.
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