Jump Financial LLC Purchases New Shares in Sun Communities, Inc. $SUI

Key Points

• Jump Financial LLC purchased 7,741 shares of Sun Communities, Inc. valued at approximately $996,000 during Q1, indicating institutional interest in the real estate investment trust.
• Several other investors, including Wellington Management Group LLP and Price T Rowe Associates Inc., have also increased their stakes, contributing to a high institutional ownership rate of 99.59%.
• Sun Communities recently reported a quarterly earnings beat with an EPS of $1.76, exceeding estimates, alongside a raised quarterly dividend yielding 3.3%.

Jump Financial LLC bought a new stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 7,741 shares of the real estate investment trust's stock, valued at approximately $996,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Sun Communities by 2.1% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 24,369 shares of the real estate investment trust's stock valued at $3,135,000 after purchasing an additional 500 shares during the period. Norinchukin Bank The boosted its stake in Sun Communities by 4.4% during the 1st quarter. Norinchukin Bank The now owns 5,586 shares of the real estate investment trust's stock valued at $719,000 after purchasing an additional 235 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Sun Communities by 10.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,118,054 shares of the real estate investment trust's stock valued at $787,029,000 after acquiring an additional 568,514 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Sun Communities by 63.2% in the 1st quarter. Wellington Management Group LLP now owns 496,978 shares of the real estate investment trust's stock worth $63,931,000 after acquiring an additional 192,411 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Sun Communities by 4.8% in the 1st quarter. Northern Trust Corp now owns 1,160,858 shares of the real estate investment trust's stock worth $149,333,000 after acquiring an additional 53,464 shares during the period. Institutional investors own 99.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SUI. Wall Street Zen upgraded Sun Communities from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Robert W. Baird raised their price objective on Sun Communities from $126.00 to $134.00 and gave the stock a "neutral" rating in a research report on Monday, August 11th. Barclays began coverage on Sun Communities in a research report on Thursday, May 29th. They issued an "overweight" rating and a $141.00 price objective for the company. Deutsche Bank Aktiengesellschaft set a $135.00 price objective on Sun Communities and gave the stock a "hold" rating in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company reduced their price objective on Sun Communities from $135.00 to $132.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $138.71.

Sun Communities Price Performance

Shares of SUI traded up $3.51 during mid-day trading on Thursday, reaching $128.92. The company had a trading volume of 1,152,546 shares, compared to its average volume of 817,131. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $147.83. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08. The company's 50-day moving average is $125.55 and its 200-day moving average is $125.80. The company has a market capitalization of $16.13 billion, a P/E ratio of 12.61, a P/E/G ratio of 6.47 and a beta of 0.86.

Sun Communities (NYSE:SUI - Get Free Report) last issued its earnings results 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 negative return on equity of 0.60% and a net margin of 48.86%.The business had revenue of $623.50 million during the quarter, compared to analysts' expectations of $614.79 million. During the same period in the prior year, the firm posted $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. On average, equities analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.2%. Sun Communities's dividend payout ratio is presently 40.70%.

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.