Sun Communities, Inc. $SUI Shares Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in Sun Communities, acquiring an additional 70,565 shares, representing a 25.4% boost in ownership, totaling approximately $45.26 million.
• Sun Communities announced a quarterly dividend increase to $1.04 per share from the previous $0.94, reflecting a yield of 3.3% and a payout ratio of 40.70%.
• Analysts have a consensus rating of "Hold" on Sun Communities stock, with an average target price of $138.43, and several institutions recently adjusted their target prices and ratings for the company.

Aberdeen Group plc grew its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 25.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 348,553 shares of the real estate investment trust's stock after buying an additional 70,565 shares during the period. Aberdeen Group plc owned approximately 0.27% of Sun Communities worth $45,256,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Utah Retirement Systems raised its stake in shares of Sun Communities by 0.5% during the fourth quarter. Utah Retirement Systems now owns 20,503 shares of the real estate investment trust's stock valued at $2,521,000 after acquiring an additional 100 shares in the last quarter. Cascade Investment Advisors Inc. grew its position in shares of Sun Communities by 1.0% in the 1st quarter. Cascade Investment Advisors Inc. now owns 10,473 shares of the real estate investment trust's stock worth $1,347,000 after buying an additional 100 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Sun Communities by 0.4% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 27,108 shares of the real estate investment trust's stock valued at $3,487,000 after buying an additional 100 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Sun Communities by 4.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,504 shares of the real estate investment trust's stock worth $322,000 after purchasing an additional 102 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Sun Communities by 11.6% in the 1st quarter. Bessemer Group Inc. now owns 1,153 shares of the real estate investment trust's stock valued at $149,000 after acquiring an additional 120 shares during the period. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Price Performance

SUI traded down $0.4950 on Thursday, hitting $126.6350. 99,977 shares of the company's stock were exchanged, compared to its average volume of 871,262. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $147.83. The stock has a market cap of $15.85 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 6.55 and a beta of 0.83. The firm has a 50-day moving average price of $125.49 and a 200-day moving average price of $125.76. The company has a current ratio of 7.08, a quick ratio of 7.08 and a debt-to-equity ratio of 0.55.

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 earnings per share for the quarter, topping analysts' consensus estimates of $1.67 by $0.09. The firm had revenue of $623.50 million for the quarter, compared to analyst estimates of $614.79 million. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. During the same period in the previous year, the business posted $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. As a group, equities analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were issued a $1.04 dividend. This is an increase from Sun Communities's previous quarterly dividend of $0.94. The ex-dividend date was Monday, June 30th. This represents a $4.16 annualized dividend and a yield of 3.3%. Sun Communities's payout ratio is presently 40.70%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SUI. Bank of America upped their target price on Sun Communities from $124.00 to $132.00 and gave the company an "underperform" rating in a research report on Monday, May 12th. Deutsche Bank Aktiengesellschaft set a $135.00 price objective on shares of Sun Communities and gave the company a "hold" rating in a report on Wednesday, June 25th. Truist Financial raised their target price on shares of Sun Communities from $137.00 to $141.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Morgan Stanley assumed coverage on shares of Sun Communities in a research report on Tuesday, July 15th. They set an "equal weight" rating and a $135.00 target price for the company. Finally, Robert W. Baird upped their price target 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. Six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $138.43.

Insiders Place Their Bets

In related news, Director Jeff Blau acquired 3,665 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were purchased at an average cost of $117.99 per share, for a total transaction of $432,433.35. Following the acquisition, the director owned 3,665 shares in the company, valued at $432,433.35. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.77% of the stock is currently owned by company insiders.

Sun Communities 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.