22,478 Shares in Sun Communities, Inc. $SUI Purchased by Lincluden Management Ltd.

Key Points

• Lincluden Management Ltd. acquired a new position in Sun Communities, Inc. by purchasing 22,478 shares valued at approximately $2,843,000 in the second quarter.
• Sun Communities recently reported Q2 earnings of $1.76 EPS, surpassing the consensus estimate and generating revenue of $623.50 million, exceeding analysts' expectations.
• The firm announced a quarterly dividend of $1.04 per share, representing a yield of 3.4%, with an anticipated dividend payout ratio (DPR) of 40.70%.

Lincluden Management Ltd. purchased a new position in Sun Communities, Inc. (NYSE:SUI - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 22,478 shares of the real estate investment trust's stock, valued at approximately $2,843,000.

A number of other large investors also recently bought and sold shares of the business. Commerzbank Aktiengesellschaft FI raised its holdings in Sun Communities by 47.3% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 8,378 shares of the real estate investment trust's stock worth $1,060,000 after purchasing an additional 2,689 shares during the period. Maryland State Retirement & Pension System raised its holdings in shares of Sun Communities by 6.5% during the second quarter. Maryland State Retirement & Pension System now owns 6,141 shares of the real estate investment trust's stock valued at $777,000 after acquiring an additional 376 shares during the last quarter. KLP Kapitalforvaltning AS raised its holdings in shares of Sun Communities by 1.9% during the second quarter. KLP Kapitalforvaltning AS now owns 43,500 shares of the real estate investment trust's stock valued at $5,541,000 after acquiring an additional 800 shares during the last quarter. Knights of Columbus Asset Advisors LLC acquired a new position in shares of Sun Communities during the second quarter valued at approximately $2,307,000. Finally, GC Wealth Management RIA LLC raised its holdings in shares of Sun Communities by 12.0% during the second quarter. GC Wealth Management RIA LLC now owns 7,570 shares of the real estate investment trust's stock valued at $958,000 after acquiring an additional 813 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company's stock.

Sun Communities Price Performance

NYSE:SUI opened at $123.34 on Friday. Sun Communities, Inc. has a one year low of $109.22 and a one year high of $140.49. The company has a debt-to-equity ratio of 0.55, a quick ratio of 7.08 and a current ratio of 7.08. The stock has a market cap of $15.44 billion, a PE ratio of 12.07, a P/E/G ratio of 6.36 and a beta of 0.86. The stock has a 50 day moving average price of $127.28 and a 200 day moving average price of $125.28.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, beating the consensus estimate of $1.67 by $0.09. Sun Communities had a negative return on equity of 0.60% and a net margin of 48.86%.The firm had revenue of $623.50 million during the quarter, compared to analysts' expectations of $614.79 million. During the same quarter last year, the firm earned $1.86 earnings per share. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. Equities research analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $4.16 annualized dividend and a yield of 3.4%. Sun Communities's dividend payout ratio (DPR) is 40.70%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Morgan Stanley set a $142.00 target price on Sun Communities in a report on Thursday, September 4th. Wells Fargo & Company reduced their target price on Sun Communities from $135.00 to $132.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. Royal Bank Of Canada reduced their target price on Sun Communities from $147.00 to $143.00 and set an "outperform" rating for the company in a report on Friday, August 1st. Wall Street Zen raised Sun Communities from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Deutsche Bank Aktiengesellschaft set a $135.00 target price on Sun Communities and gave the company a "hold" rating in a report on Wednesday, June 25th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $137.86.

Sun Communities Company Profile

Established in 1975, Sun Communities, Inc became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of December 31, 2023, the Company owned, operated, or had an interest in a portfolio of 667 developed MH, RV and Marina properties comprising 179,310 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.

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