Allspring Global Investments Holdings LLC Sells 162,138 Shares of Sun Communities, Inc. $SUI

Allspring Global Investments Holdings LLC lessened its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 61.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 102,530 shares of the real estate investment trust's stock after selling 162,138 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.08% of Sun Communities worth $13,060,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SUI. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Sun Communities in the 1st quarter valued at about $217,000. Principal Financial Group Inc. raised its holdings in shares of Sun Communities by 14.6% during the first quarter. Principal Financial Group Inc. now owns 131,568 shares of the real estate investment trust's stock valued at $16,572,000 after purchasing an additional 16,782 shares during the period. Chicago Partners Investment Group LLC raised its holdings in shares of Sun Communities by 16.2% during the first quarter. Chicago Partners Investment Group LLC now owns 2,233 shares of the real estate investment trust's stock valued at $285,000 after purchasing an additional 312 shares during the period. Arbejdsmarkedets Tillaegspension grew its stake in shares of Sun Communities by 4.1% in the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 196,774 shares of the real estate investment trust's stock valued at $24,786,000 after buying an additional 7,738 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Sun Communities by 39.0% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 55,683 shares of the real estate investment trust's stock valued at $7,014,000 after buying an additional 15,630 shares in the last quarter. Institutional investors own 99.59% of the company's stock.

Insider Activity

In other Sun Communities news, EVP Fernando Castro-Caratini sold 23,750 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the sale, the executive vice president directly owned 9,998 shares in the company, valued at approximately $1,244,051.14. This trade represents a 70.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gary A. Shiffman sold 25,031 shares of Sun Communities stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total value of $3,002,718.76. Following the completion of 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 SEC filing for this sale provides additional information. Insiders own 1.58% of the company's stock.

Sun Communities Price Performance

Shares of NYSE:SUI opened at $119.04 on Wednesday. The firm has a market capitalization of $14.67 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 3.97 and a beta of 0.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.39 and a quick ratio of 3.39. Sun Communities, Inc. has a one year low of $115.53 and a one year high of $137.85. The company's fifty day moving average price is $122.13 and its 200-day moving average price is $126.48.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The real estate investment trust reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of $1.31 by ($1.38). The company had revenue of $500.50 million during the quarter, compared to analysts' expectations of $472.40 million. Sun Communities had a return on equity of 0.16% and a net margin of 62.29%.Sun Communities's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the firm earned $1.26 earnings per share. Sun Communities has set its Q2 2026 guidance at 1.710-1.790 EPS and its FY 2026 guidance at 6.870-7.070 EPS. On average, equities research analysts anticipate that Sun Communities, Inc. will post 6.9 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, June 30th. Sun Communities's dividend payout ratio (DPR) is 40.69%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SUI shares. Royal Bank Of Canada lowered their target price on Sun Communities from $151.00 to $149.00 and set an "outperform" rating on the stock in a research report on Friday, June 5th. Barclays reduced their price target on shares of Sun Communities from $147.00 to $146.00 and set an "overweight" rating for the company in a research report on Tuesday, July 14th. Mizuho lowered their price objective on shares of Sun Communities from $143.00 to $137.00 and set an "outperform" rating on the stock in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft set a $133.00 price objective on shares of Sun Communities in a research note on Thursday, May 14th. Finally, Weiss Ratings lowered Sun Communities from a "buy (b-)" rating to a "hold (c)" rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Sun Communities has a consensus rating of "Moderate Buy" and an average price target of $140.05.

Sun Communities 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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