Allianz Asset Management GmbH Buys 9,555 Shares of Sun Communities, Inc. $SUI

Allianz Asset Management GmbH grew its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 8.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,847 shares of the real estate investment trust's stock after purchasing an additional 9,555 shares during the period. Allianz Asset Management GmbH owned approximately 0.10% of Sun Communities worth $15,918,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Versor Investments LP boosted its stake in shares of Sun Communities by 92.5% during the 1st quarter. Versor Investments LP now owns 6,545 shares of the real estate investment trust's stock valued at $842,000 after purchasing an additional 3,145 shares in the last quarter. GAMMA Investing LLC boosted its stake in Sun Communities by 23.8% during the first quarter. GAMMA Investing LLC now owns 1,047 shares of the real estate investment trust's stock worth $135,000 after acquiring an additional 201 shares in the last quarter. Bessemer Group Inc. grew its holdings in Sun Communities by 11.6% in the first quarter. Bessemer Group Inc. now owns 1,153 shares of the real estate investment trust's stock worth $149,000 after purchasing an additional 120 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Sun Communities by 9.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,042 shares of the real estate investment trust's stock valued at $520,000 after purchasing an additional 365 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in shares of Sun Communities during the first quarter valued at approximately $2,392,000. Institutional investors own 99.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Sun Communities from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Wells Fargo & Company lowered their target price on shares of Sun Communities from $135.00 to $132.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. Deutsche Bank Aktiengesellschaft set a $135.00 target price on shares of Sun Communities and gave the company a "hold" rating in a report on Wednesday, June 25th. Evercore ISI lifted their target price on shares of Sun Communities from $136.00 to $138.00 and gave the company an "in-line" rating in a report on Monday, September 15th. Finally, Morgan Stanley set a $142.00 target price on shares of Sun Communities in a report on Thursday, September 4th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Sun Communities presently has an average rating of "Hold" and a consensus price target of $137.86.

Sun Communities Trading Up 0.5%

Shares of NYSE SUI opened at $124.37 on Tuesday. The firm's 50 day moving average price is $127.03 and its 200-day moving average price is $125.05. The company has a market cap of $15.56 billion, a PE ratio of 12.17, a P/E/G ratio of 6.36 and a beta of 0.86. Sun Communities, Inc. has a 52-week low of $109.22 and a 52-week high of $140.49. The company has a debt-to-equity ratio of 0.55, a quick ratio of 7.08 and a current ratio of 7.08.

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 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 quarter in the prior year, the firm 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. On average, equities research analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Sun Communities's payout ratio is presently 40.70%.

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.

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