Adelante Capital Management LLC Invests $4.15 Million in Sun Communities, Inc. $SUI

Key Points

• Adelante Capital Management initiated a $4.15 million position in Sun Communities, purchasing 32,940 shares during the first quarter. Institutional investors collectively own 99.59% of the REIT’s outstanding stock.
• Analysts maintain a generally positive view, with Sun Communities holding a “Moderate Buy” consensus rating and an average price target of $140.05, above its reported $123.59 share price.
• Sun Communities pays a quarterly dividend of $1.12, equivalent to an annualized $4.48 dividend and a 3.6% yield. However, insiders recently sold shares, and the company’s latest reported EPS missed estimates despite revenue growth of 8% year over year.

Adelante Capital Management LLC bought a new stake in Sun Communities, Inc. (NYSE:SUI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 32,940 shares of the real estate investment trust's stock, valued at approximately $4,150,000.

Several other hedge funds also recently modified their holdings of SUI. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Sun Communities by 1,226.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 199 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 184 shares during the last quarter. Fulcrum Asset Management LLP bought a new stake in shares of Sun Communities in the 3rd quarter worth $27,000. Wiser Advisor Group LLC purchased a new stake in shares of Sun Communities in the third quarter valued at about $46,000. Oslo Pensjonsforsikring AS purchased a new position in Sun Communities during the first quarter worth about $49,000. Finally, Prosperity Bancshares Inc bought a new stake in Sun Communities in the 4th quarter worth about $48,000. Hedge funds and other institutional investors own 99.59% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Truist Financial decreased their price objective on shares of Sun Communities from $141.00 to $138.00 and set a "buy" rating for the company in a research note on Friday, June 26th. Wells Fargo & Company cut their target price on Sun Communities from $150.00 to $142.00 and set an "overweight" rating on the stock in a research note on Friday, May 29th. Jefferies Financial Group raised Sun Communities to a "strong-buy" rating in a report on Wednesday, July 22nd. Evercore reaffirmed an "outperform" rating and set a $144.00 price target on shares of Sun Communities in a research report on Wednesday, April 29th. Finally, Barclays dropped their price target on Sun Communities from $147.00 to $146.00 and set an "overweight" rating on the stock in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Sun Communities presently has an average rating of "Moderate Buy" and an average target price of $140.05.

Insider Activity at Sun Communities

In other news, Director Gary A. Shiffman sold 25,031 shares of the business's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $119.96, for a total value of $3,002,718.76. Following the sale, the director owned 857,761 shares of the company's stock, valued at $102,897,009.56. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Fernando Castro-Caratini sold 23,750 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the sale, the executive vice president owned 9,998 shares in the company, valued at $1,244,051.14. The trade was a 70.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.58% of the company's stock.

Sun Communities Stock Up 1.8%

Shares of NYSE SUI opened at $123.59 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.39 and a quick ratio of 3.39. The stock has a market capitalization of $15.23 billion, a PE ratio of -17.43, a P/E/G ratio of 4.01 and a beta of 0.79. Sun Communities, Inc. has a one year low of $115.53 and a one year high of $137.85. The business's fifty day moving average price is $122.06 and its 200-day moving average price is $126.44.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.31 by ($1.38). The firm had revenue of $500.50 million during the quarter, compared to the consensus estimate of $472.40 million. Sun Communities had a negative net margin of 39.03% and a positive return on equity of 2.50%. The company's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.26 earnings per share. On average, equities research analysts anticipate that Sun Communities, Inc. will post 6.9 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $1.12 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $4.48 annualized dividend and a dividend yield of 3.6%. Sun Communities's payout ratio is 40.69%.

Sun Communities News Summary

Here are the key news stories impacting Sun Communities this week:

• Positive Sentiment: Sun Communities reported second-quarter funds from operations (CFFO) of $1.84 per share, exceeding the FactSet consensus estimate of $1.76 and improving from $1.76 a year earlier. The earnings call also highlighted continued strength in the manufactured-housing business, an important growth and stability driver for the REIT. Sun Communities Earnings Call Highlights MH Strength
• Positive Sentiment: Management modestly raised its full-year 2026 EPS outlook to $6.94-$7.10, versus a prior consensus estimate of $6.93. Third-quarter guidance of $2.23-$2.33 per share was broadly in line with the $2.24 consensus, signaling stable expectations rather than a sharp acceleration. Sun Communities Reports Results for the Second Quarter and First Six Months of 2026
• Neutral Sentiment: Morgan Stanley maintained a Hold rating with a $135 price target. The analyst viewed the quarter and guidance raise favorably but characterized the risk-reward balance as relatively even, limiting the potential for an immediate bullish reaction. Balanced Risk-Reward Keeps Sun Communities at Hold
• Negative Sentiment: The company reported a $8.08 net loss per diluted share for the quarter, largely reflecting a loss from discontinued operations. A separate earnings summary also showed reported revenue below its cited analyst estimate, creating a potential source of investor caution despite the CFFO beat. Sun Communities Second-Quarter Results

Sun Communities Company Profile

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company's portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.

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