Alyeska Investment Group L.P. Sells 721,344 Shares of Sun Communities, Inc. $SUI

Key Points

• Alyeska Investment Group L.P. has drastically reduced its stake in Sun Communities, Inc. by 71.8%, selling 721,344 shares and now owning only 283,344 shares worth approximately $36.4 million.
• Sun Communities recently reported earnings of $1.76 per share for the last quarter, surpassing analysts' expectations and generating revenue of $623.5 million.
• The company declared a quarterly dividend of $1.04 per share, with an annualized yield of 3.3% and a payout ratio of 40.70%.

Alyeska Investment Group L.P. decreased its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 71.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 283,344 shares of the real estate investment trust's stock after selling 721,344 shares during the quarter. Alyeska Investment Group L.P. owned about 0.22% of Sun Communities worth $36,449,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SUI. Mercer Global Advisors Inc. ADV raised its holdings in Sun Communities by 112.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,196 shares of the real estate investment trust's stock worth $1,008,000 after purchasing an additional 4,342 shares during the last quarter. Baird Financial Group Inc. raised its holdings in Sun Communities by 5.7% during the 4th quarter. Baird Financial Group Inc. now owns 4,381 shares of the real estate investment trust's stock worth $539,000 after purchasing an additional 238 shares during the last quarter. Captrust Financial Advisors raised its holdings in Sun Communities by 3.7% during the 4th quarter. Captrust Financial Advisors now owns 3,627 shares of the real estate investment trust's stock worth $446,000 after purchasing an additional 128 shares during the last quarter. Cresset Asset Management LLC increased its stake in shares of Sun Communities by 13.7% in the 4th quarter. Cresset Asset Management LLC now owns 3,830 shares of the real estate investment trust's stock valued at $474,000 after acquiring an additional 461 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Sun Communities by 398.5% in the 4th quarter. Deutsche Bank AG now owns 791,003 shares of the real estate investment trust's stock valued at $97,270,000 after acquiring an additional 632,331 shares in the last quarter. Institutional investors own 99.59% of the company's stock.

Sun Communities Stock Performance

NYSE SUI opened at $125.40 on Thursday. The company has a fifty day simple moving average of $125.54 and a 200 day simple moving average of $125.78. Sun Communities, Inc. has a 12-month low of $109.22 and a 12-month 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 cap of $15.69 billion, a P/E ratio of 12.27, a PEG ratio of 6.55 and a beta of 0.86.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 period in the previous year, the firm earned $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. Sell-side analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

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 dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 3.3%. Sun Communities's dividend payout ratio is 40.70%.

Analyst Ratings Changes

Several research firms have recently weighed in on SUI. JMP Securities reiterated a "market outperform" rating and issued a $140.00 price objective on shares of Sun Communities in a research note on Tuesday, May 20th. Colliers Securities began coverage on shares of Sun Communities in a research note on Friday, June 13th. They issued a "neutral" rating and a $130.00 price objective for the company. Truist Financial lifted their price objective on shares of Sun Communities from $137.00 to $141.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft set a $135.00 price objective on shares of Sun Communities and gave the company a "hold" rating in a research note on Wednesday, June 25th. Finally, Barclays began coverage on shares of Sun Communities in a research note on Thursday, May 29th. They issued an "overweight" rating and a $141.00 price objective for the company. Six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $138.21.

Sun Communities Company 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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