Aberdeen Group plc Cuts Stock Holdings in Sun Communities, Inc. $SUI

Key Points

• Aberdeen Group plc has significantly reduced its holdings in Sun Communities, Inc., cutting its stake by 44% and owning 195,353 shares valued at approximately $24.71 million.
• Several institutional investors have recently taken new positions in Sun Communities, reflecting strong interest as 99.59% of the company's stock is owned by hedge funds and other institutional investors.
• Sun Communities announced a quarterly dividend of $1.04 per share, with a dividend yield of 3.4%, set to be paid on October 15th to stockholders of record as of September 30th.

Aberdeen Group plc decreased its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 44.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 195,353 shares of the real estate investment trust's stock after selling 153,200 shares during the quarter. Aberdeen Group plc owned 0.15% of Sun Communities worth $24,710,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Sun Communities during the first quarter valued at approximately $29,000. Twin Tree Management LP purchased a new stake in Sun Communities in the first quarter worth approximately $29,000. Ransom Advisory Ltd purchased a new stake in Sun Communities in the first quarter worth approximately $31,000. GKV Capital Management Co. Inc. purchased a new stake in Sun Communities in the first quarter worth approximately $42,000. Finally, V Square Quantitative Management LLC purchased a new stake in Sun Communities in the second quarter worth approximately $47,000. Hedge funds and other institutional investors own 99.59% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SUI. Royal Bank Of Canada dropped their target price on shares of Sun Communities from $147.00 to $143.00 and set an "outperform" rating on the stock in a report on Friday, August 1st. Weiss Ratings restated a "hold (c)" rating on shares of Sun Communities in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Sun Communities from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Deutsche Bank Aktiengesellschaft set a $135.00 price target on shares of Sun Communities and gave the stock a "hold" rating in a research note on Wednesday, June 25th. Finally, Evercore ISI lifted their price target on shares of Sun Communities from $136.00 to $138.00 and gave the stock an "in-line" rating in a research note on Monday, September 15th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Sun Communities presently has an average rating of "Hold" and an average target price of $137.86.

Sun Communities Trading Down 1.6%

Shares of Sun Communities stock opened at $121.46 on Tuesday. The stock has a market capitalization of $15.20 billion, a PE ratio of 11.88, a P/E/G ratio of 6.36 and a beta of 0.86. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $140.49. The company's fifty day simple moving average is $127.19 and its 200-day simple moving average is $125.20. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $623.50 million for the quarter, compared to the consensus estimate 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 last 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 analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Announces Dividend

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

About Sun Communities

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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