Sun Communities, Inc. $SUI Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. has reduced its stake in Sun Communities, Inc. by 13.4%, selling 31,430 shares and now holding 203,438 shares worth approximately $26.17 million.
• Several hedge funds have increased their stakes in Sun Communities, with AQR Capital Management growing its position by 17.8% and Advisors Asset Management boosting theirs by 39.1% in the first quarter.
• Sun Communities will pay a quarterly dividend of $1.04 per share on October 15th, representing an annualized yield of 3.2% and a payout ratio of 40.70%.

Alliancebernstein L.P. trimmed its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 13.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 203,438 shares of the real estate investment trust's stock after selling 31,430 shares during the period. Alliancebernstein L.P. owned about 0.16% of Sun Communities worth $26,170,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Twin Tree Management LP acquired a new stake in shares of Sun Communities during the 1st quarter valued at approximately $29,000. Opal Wealth Advisors LLC purchased a new position in shares of Sun Communities during the 1st quarter worth approximately $29,000. GKV Capital Management Co. Inc. purchased a new position in shares of Sun Communities during the 1st quarter worth approximately $42,000. Parallel Advisors LLC increased its stake in shares of Sun Communities by 66.4% during the 1st quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust's stock worth $61,000 after purchasing an additional 190 shares in the last quarter. Finally, Avalon Trust Co purchased a new position in shares of Sun Communities during the 1st quarter worth approximately $65,000. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Stock Down 1.0%

SUI stock traded down $1.28 during trading on Friday, reaching $130.00. The stock had a trading volume of 568,811 shares, compared to its average volume of 809,831. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $147.83. The company has a current ratio of 7.08, a quick ratio of 7.08 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $16.27 billion, a P/E ratio of 12.72, a PEG ratio of 6.78 and a beta of 0.86. The firm has a fifty day moving average price of $125.77 and a 200 day moving average price of $125.85.

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 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 analyst estimates of $614.79 million. During the same quarter in the previous year, the business 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 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. Shareholders of record on Tuesday, September 30th will be issued a $1.04 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $4.16 dividend on an annualized basis and a yield of 3.2%. Sun Communities's payout ratio is currently 40.70%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Colliers Securities assumed coverage on shares of Sun Communities in a research note on Friday, June 13th. They set a "neutral" rating and a $130.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of Sun Communities from $135.00 to $132.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 27th. Deutsche Bank Aktiengesellschaft set a $135.00 price objective on shares of Sun Communities and gave the stock a "hold" rating in a research note on Wednesday, June 25th. Barclays started coverage on shares of Sun Communities in a research note on Thursday, May 29th. They issued an "overweight" rating and a $141.00 target price for the company. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $140.00 target price on shares of Sun Communities in a research note on Tuesday, May 20th. Six equities 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 company currently has a consensus rating of "Hold" and a consensus price target of $138.71.

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.