Sun Communities Draws Hedge Fund Investors

Sun_Communities_Inc. postedDailyBusinessNewsMHProNewsMHProNews has learned hedge fund Geode Capital Management LLC upped its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 7.2 percent in Q1 2016, as reported to the Securities and Exchange Commission, according to cerbatgem. After buying an additional 31,936 shares during the first period, Geode now owns 473,079 shares of Sun valued at $33,870,000.

Sun recently paid a quarterly dividend of $0.65 July 15 to stockholders of record as of Thurs. June 30, 2016. This represents a $2.60 dividend on an annualized basis.

Additionally, other hedge funds active with Sun include Telemus Capital LLC, which acquired a new stake valued at $358,000 of the manufactured home community owner’s stock. Moody Aldrich Partners LLC added a new stake in Sun with a value of approximately $400,000.

Virginia Retirement System acquired a new stake in Sun worth $759,000.

Sun Communities owns and operates 390 manufactured home and recreational vehicle communities in 32 states and British Columbia comprised of 145,804 sites.

As MHProNews reported in its Daily Stock Report July 25, 2016, Sun Communities, Inc. closed up +0.47 percent to end the day at $77.69. ##

(Image credit: Sun Communities, Inc.)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J Silver to Daily Business News-MHProNews.

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