A new SEC filing reveals that Jeff Blau, Director at Sun Communities (NYSE:SUI), made a notable insider purchase on January 22,.
What Happened: In a Form 4 filing on Monday with the U.S. Securities and Exchange Commission, it was disclosed that Blau bought 2,000 shares of Sun Communities, amounting to a total of $258,019.
As of Tuesday morning, Sun Communities shares are down by 0.0%, currently priced at $128.8.
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.
Sun Communities: Delving into Financials
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. In comparison to its industry peers, ...