HGI Capital Management LLC Makes New Investment in Sun Communities, Inc. $SUI

Key Points

• HGI Capital Management LLC acquired 22,990 shares of Sun Communities, Inc. valued at approximately $2.96 million, making it the firm's 17th largest holding.
• Analyst ratings for Sun Communities show six buy ratings, eight holds, and one sell, with a consensus target price of $138.21.
• Sun Communities recently increased its quarterly dividend to $1.04 per share, up from $0.94, representing a 3.3% yield based on an annualized payout of $4.16.

HGI Capital Management LLC purchased a new position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 22,990 shares of the real estate investment trust's stock, valued at approximately $2,957,000. Sun Communities accounts for approximately 3.7% of HGI Capital Management LLC's investment portfolio, making the stock its 17th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versor Investments LP lifted its holdings in Sun Communities by 92.5% during the 1st quarter. Versor Investments LP now owns 6,545 shares of the real estate investment trust's stock valued at $842,000 after buying an additional 3,145 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Sun Communities by 23.8% during the 1st quarter. GAMMA Investing LLC now owns 1,047 shares of the real estate investment trust's stock valued at $135,000 after buying an additional 201 shares in the last quarter. Bessemer Group Inc. lifted its holdings in Sun Communities by 11.6% during the 1st quarter. Bessemer Group Inc. now owns 1,153 shares of the real estate investment trust's stock valued at $149,000 after buying an additional 120 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Sun Communities by 9.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,042 shares of the real estate investment trust's stock valued at $520,000 after buying an additional 365 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in Sun Communities during the 1st quarter valued at about $2,392,000. Institutional investors own 99.59% of the company's stock.

Sun Communities Stock Up 1.1%

Shares of Sun Communities stock traded up $1.38 on Friday, reaching $126.94. The stock had a trading volume of 854,946 shares, compared to its average volume of 1,025,458. The company has a 50 day moving average price of $125.66 and a 200 day moving average price of $125.77. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.55. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $147.83. The stock has a market capitalization of $15.89 billion, a P/E ratio of 12.42, a P/E/G ratio of 6.55 and a beta of 0.83.

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

Sun Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, June 30th. This is an increase from Sun Communities's previous quarterly dividend of $0.94. Sun Communities's payout ratio is presently 40.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SUI shares. Robert W. Baird lifted their price objective on shares of Sun Communities from $126.00 to $134.00 and gave the company a "neutral" rating in a report on Monday, August 11th. Deutsche Bank Aktiengesellschaft set a $135.00 price target on shares of Sun Communities and gave the company a "hold" rating in a report on Wednesday, June 25th. Wall Street Zen upgraded shares of Sun Communities from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Royal Bank Of Canada reduced their price target on shares of Sun Communities from $147.00 to $143.00 and set an "outperform" rating for the company in a report on Friday, August 1st. Finally, JMP Securities restated a "market outperform" rating and issued a $140.00 price target on shares of Sun Communities in a report on Tuesday, May 20th. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $138.21.

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.