Allstate Corp Grows Stock Holdings in Sun Communities, Inc. $SUI

Key Points

• Allstate Corp boosted its stake in Sun Communities by 215.6% in Q4, adding 11,007 shares to end the period with 16,113 shares worth about $2.0 million.
• Sun Communities reported mixed quarterly results, with revenue of $500.5 million beating expectations but EPS of -$0.07 missing estimates by a wide margin. The company also issued Q2 2026 and FY 2026 guidance.
• The REIT raised its quarterly dividend to $1.12 per share from $1.04, while analysts currently rate the stock Moderate Buy with an average price target of $141.84.

Allstate Corp grew its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 215.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,113 shares of the real estate investment trust's stock after purchasing an additional 11,007 shares during the period. Allstate Corp's holdings in Sun Communities were worth $1,997,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc raised its position in shares of Sun Communities by 6.4% in the 4th quarter. Legal & General Group Plc now owns 1,080,585 shares of the real estate investment trust's stock valued at $133,895,000 after purchasing an additional 65,053 shares during the last quarter. Swedbank AB raised its position in Sun Communities by 21.4% during the 4th quarter. Swedbank AB now owns 157,113 shares of the real estate investment trust's stock worth $19,468,000 after buying an additional 27,700 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Sun Communities during the 4th quarter worth approximately $337,000. Catalyst Funds Management Pty Ltd purchased a new position in Sun Communities during the 4th quarter worth approximately $595,000. Finally, EverSource Wealth Advisors LLC raised its position in Sun Communities by 13.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 773 shares of the real estate investment trust's stock worth $96,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company's stock.

Sun Communities Trading Up 0.3%

SUI opened at $125.10 on Friday. The business has a fifty day simple moving average of $127.20 and a 200-day simple moving average of $127.58. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.60. Sun Communities, Inc. has a 52 week low of $115.53 and a 52 week high of $137.85. The firm has a market cap of $15.42 billion, a P/E ratio of 11.36, a P/E/G ratio of 4.11 and a beta of 0.82.

Sun Communities (NYSE:SUI - Get Free Report) last released its earnings results 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 company had revenue of $500.50 million during the quarter, compared to analysts' expectations of $472.40 million. Sun Communities had a net margin of 62.29% and a return on equity of 0.16%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $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 analysts expect that Sun Communities, Inc. will post 6.92 earnings per share for the current year.

Sun Communities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a $1.12 dividend. This is a positive change from Sun Communities's previous quarterly dividend of $1.04. The ex-dividend date was Tuesday, March 31st. This represents a $4.48 annualized dividend and a yield of 3.6%. Sun Communities's payout ratio is currently 40.69%.

Analysts Set New Price Targets

SUI has been the subject of a number of recent research reports. Weiss Ratings lowered Sun Communities from a "buy (b-)" rating to a "hold (c)" rating in a research note on Friday, May 1st. Wells Fargo & Company raised shares of Sun Communities from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $133.00 to $150.00 in a report on Friday, February 27th. Royal Bank Of Canada lifted their target price on shares of Sun Communities from $148.00 to $151.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Robert W. Baird lifted their target price on shares of Sun Communities from $136.00 to $140.00 and gave the company a "neutral" rating in a report on Friday, March 6th. Finally, Evercore reaffirmed an "outperform" rating and set a $144.00 target price on shares of Sun Communities in a report on Wednesday, April 29th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $141.84.

Insider Buying and Selling at Sun Communities

In other news, Director Clunet R. Lewis sold 3,200 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $136.15, for a total transaction of $435,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Fernando Castro-Caratini sold 23,750 shares of the company's 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 transaction, the executive vice president owned 9,998 shares of the company's stock, valued at approximately $1,244,051.14. The trade was a 70.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 30,750 shares of company stock valued at $3,907,731. 1.58% of the stock is owned by insiders.

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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