American Century Companies Inc. Reduces Stock Position in Sun Communities, Inc. $SUI

Key Points

• American Century Companies Inc. reduced its stock position in Sun Communities, Inc. by 34.3%, holding 183,525 shares worth $23.6 million after selling 95,752 shares in the first quarter.
• Sun Communities recently increased its quarterly dividend to $1.04 per share, representing a dividend yield of 3.3%.
• Analysts have given Sun Communities a mixed rating, with a consensus price target of $138.43 and 6 Buy ratings, indicating some potential for growth despite various Hold ratings.

American Century Companies Inc. lowered its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 34.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 183,525 shares of the real estate investment trust's stock after selling 95,752 shares during the quarter. American Century Companies Inc. owned 0.14% of Sun Communities worth $23,609,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in Sun Communities during the 1st quarter valued at $29,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Sun Communities in the 1st quarter worth $42,000. Parallel Advisors LLC lifted its holdings in shares of Sun Communities by 66.4% in the 1st quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust's stock worth $61,000 after buying an additional 190 shares during the period. Avalon Trust Co purchased a new stake in shares of Sun Communities in the 1st quarter worth $65,000. Finally, Blue Trust Inc. lifted its holdings in shares of Sun Communities by 510.4% in the 1st quarter. Blue Trust Inc. now owns 586 shares of the real estate investment trust's stock worth $75,000 after buying an additional 490 shares during the period. Hedge funds and other institutional investors own 99.59% of the company's stock.

Analysts Set New Price Targets

SUI has been the subject of several research reports. Barclays initiated coverage on Sun Communities in a report on Thursday, May 29th. They issued an "overweight" rating and a $141.00 target price for the company. Colliers Securities initiated coverage on Sun Communities in a report on Friday, June 13th. They issued a "neutral" rating and a $130.00 target price for the company. Truist Financial upped their target price on Sun Communities from $137.00 to $141.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft set a $135.00 target price on Sun Communities and gave the stock a "hold" rating in a report on Wednesday, June 25th. Finally, Royal Bank Of Canada lowered their target price on Sun Communities from $147.00 to $143.00 and set an "outperform" rating for the company in a report on Friday, August 1st. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Sun Communities currently has an average rating of "Hold" and a consensus price target of $138.43.

Sun Communities Trading Up 0.0%

SUI opened at $126.8570 on Friday. The firm has a market cap of $15.88 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 6.54 and a beta of 0.83. The company has a current ratio of 7.08, a quick ratio of 7.08 and a debt-to-equity ratio of 0.55. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month high of $147.83. The stock has a fifty day moving average price of $125.57 and a 200-day moving average price of $125.76.

Sun Communities (NYSE:SUI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.09. Sun Communities had a negative return on equity of 0.60% and a net margin of 48.86%.The company had revenue of $623.50 million for the quarter, compared to analyst estimates of $614.79 million. During the same period in the prior year, the company 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. As a group, equities research analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, June 30th. This is an increase from Sun Communities's previous quarterly dividend of $0.94. Sun Communities's payout ratio is 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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