Stephanie W Bergeron, Board Member at Sun Communities (NYSE:SUI), reported an insider buy on January 22, according to a new SEC filing.
What Happened: Bergeron demonstrated confidence in Sun Communities by purchasing 2,000 shares, as reported in a Form 4 filing with the U.S. Securities and Exchange Commission on Monday. The total value of the transaction is $258,019.
Tracking the Tuesday's morning session, Sun Communities shares are trading at $128.49, showing a down of 0.24%.
Unveiling the Story Behind Sun Communities
Sun Communities is a residential REIT that focuses on owning manufactured housing, residential vehicle communities, and marinas. The company currently owns a portfolio of 670 properties, which includes 353 manufactured housing communities, 182 residential vehicle communities, and 135 marina properties. Sun targets owning properties that are desirable as second homes or vacation properties with nearly 50% of the portfolio located in either Florida or Michigan near major bodies of water.
Financial Milestones: Sun Communities's Journey
Revenue Growth: Sun Communities displayed positive results in 3 months. As of 30 September, 2023, the company achieved a solid revenue growth rate of approximately 5.06%. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company ...