12,809 Shares in Sun Communities, Inc. $SUI Purchased by OP Asset Management Ltd

Key Points

• OP Asset Management Ltd opened a new position in Sun Communities during the first quarter, buying 12,809 shares valued at about $1.613 million.
• Sun Communities reported quarterly earnings of -$0.07 per share, missing analyst expectations, though revenue came in at $500.5 million, above estimates and up 8% year over year.
• The REIT declared a quarterly dividend of $1.12 per share payable July 15, implying an annualized yield of about 3.7%; analysts currently view the stock as a Moderate Buy with a consensus target price of $140.91.

OP Asset Management Ltd purchased a new position in Sun Communities, Inc. (NYSE:SUI - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,809 shares of the real estate investment trust's stock, valued at approximately $1,613,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. CoreCap Advisors LLC grew its stake in shares of Sun Communities by 3.8% in the 4th quarter. CoreCap Advisors LLC now owns 2,228 shares of the real estate investment trust's stock worth $276,000 after purchasing an additional 82 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Sun Communities by 9.1% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,003 shares of the real estate investment trust's stock valued at $127,000 after purchasing an additional 84 shares during the last quarter. IFP Advisors Inc boosted its holdings in Sun Communities by 3.2% during the fourth quarter. IFP Advisors Inc now owns 2,902 shares of the real estate investment trust's stock worth $360,000 after buying an additional 89 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Sun Communities by 13.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 773 shares of the real estate investment trust's stock worth $96,000 after buying an additional 90 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in Sun Communities by 2.1% in the fourth quarter. CIBC Asset Management Inc now owns 5,467 shares of the real estate investment trust's stock worth $677,000 after buying an additional 112 shares during the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Up 0.0%

SUI stock opened at $121.28 on Monday. Sun Communities, Inc. has a 52-week low of $115.53 and a 52-week high of $137.85. The company's 50 day simple moving average is $124.47 and its 200-day simple moving average is $126.82. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.39 and a quick ratio of 3.39. The firm has a market capitalization of $14.95 billion, a P/E ratio of 11.02, a P/E/G ratio of 3.98 and a beta of 0.80.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The real estate investment trust reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of $1.31 by ($1.38). Sun Communities had a return on equity of 0.16% and a net margin of 62.29%.The firm had revenue of $500.50 million during the quarter, compared to analyst estimates of $472.40 million. During the same period in the prior year, the business posted $1.26 EPS. The company's revenue for the quarter was up 8.0% on a year-over-year basis. Sun Communities has set its Q2 2026 guidance at 1.710-1.790 EPS and its FY 2026 guidance at 6.870-7.070 EPS. As a group, equities research analysts anticipate that Sun Communities, Inc. will post 6.94 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.12 per share. The ex-dividend date is Tuesday, June 30th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. Sun Communities's payout ratio is currently 40.69%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SUI shares. Zelman & Associates initiated coverage on Sun Communities in a report on Monday, March 16th. They issued an "outperform" rating and a $127.75 price target on the stock. Royal Bank Of Canada reduced their price objective on Sun Communities from $151.00 to $149.00 and set an "outperform" rating for the company in a research note on Friday, June 5th. Colliers Securities upgraded Sun Communities from a "neutral" rating to a "buy" rating and set a $150.00 target price on the stock in a report on Friday, May 22nd. Jefferies Financial Group raised Sun Communities to a "strong-buy" rating in a research report on Friday. Finally, Robert W. Baird upped their target price on Sun Communities from $136.00 to $140.00 and gave the company a "neutral" rating in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $140.91.

Insider Buying and Selling at Sun Communities

In related news, Director Gary A. Shiffman sold 25,031 shares of the company's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total transaction of $3,002,718.76. Following the transaction, the director directly owned 857,761 shares of the company's stock, valued at approximately $102,897,009.56. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Fernando Castro-Caratini sold 23,750 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $124.43, for a total value of $2,955,212.50. Following the sale, the executive vice president owned 9,998 shares of the company's stock, valued at $1,244,051.14. The trade was a 70.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.58% of the stock is currently owned by insiders.

Sun Communities Profile

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company's portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.

Want to see what other hedge funds are holding SUI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Communities, Inc. (NYSE:SUI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.