American National Bank & Trust Takes Position in Sun Communities, Inc. $SUI

Key Points

• American National Bank & Trust has acquired 6,000 shares of Sun Communities, Inc. worth approximately $759,000, marking a new investment in the real estate investment trust.
• Sun Communities reported earnings of $1.76 per share for the last quarter, exceeding analysts' expectations, and had a revenue of $623.50 million compared to the estimated $614.79 million.
• The company has declared a quarterly dividend of $1.04 per share, which will be paid on October 15th, representing an annual yield of 3.3%.

American National Bank & Trust bought a new position in Sun Communities, Inc. (NYSE:SUI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 6,000 shares of the real estate investment trust's stock, valued at approximately $759,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in Sun Communities by 8.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,131 shares of the real estate investment trust's stock valued at $143,000 after purchasing an additional 84 shares during the period. Cascade Investment Advisors Inc. grew its holdings in Sun Communities by 1.0% during the 1st quarter. Cascade Investment Advisors Inc. now owns 10,473 shares of the real estate investment trust's stock valued at $1,347,000 after buying an additional 100 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Sun Communities by 0.4% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 27,108 shares of the real estate investment trust's stock valued at $3,487,000 after buying an additional 100 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Sun Communities by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,504 shares of the real estate investment trust's stock worth $322,000 after buying an additional 102 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Sun Communities by 11.6% during the first quarter. Bessemer Group Inc. now owns 1,153 shares of the real estate investment trust's stock worth $149,000 after acquiring an additional 120 shares during the last quarter. 99.59% of the stock is owned by institutional investors.

Sun Communities Price Performance

Shares of Sun Communities stock opened at $127.83 on Friday. The stock has a market cap of $16.00 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 6.61 and a beta of 0.86. The company has a debt-to-equity ratio of 0.55, a quick ratio of 7.08 and a current ratio of 7.08. The stock has a 50 day moving average price of $126.19 and a 200-day moving average price of $125.52. Sun Communities, Inc. has a one year low of $109.22 and a one year high of $140.49.

Sun Communities (NYSE:SUI - Get Free Report) last issued its quarterly earnings results 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. 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 during the quarter, compared to the consensus estimate of $614.79 million. During the same period last year, the company earned $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. Equities analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have commented on SUI. Wall Street Zen upgraded shares of Sun Communities from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Robert W. Baird boosted their target price on Sun Communities from $126.00 to $134.00 and gave the stock a "neutral" rating in a research report on Monday, August 11th. Royal Bank Of Canada cut their price target on Sun Communities from $147.00 to $143.00 and set an "outperform" rating for the company in a report on Friday, August 1st. Truist Financial lifted their price objective on Sun Communities from $137.00 to $141.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft set a $135.00 target price on Sun Communities and gave the company a "hold" rating in a research report on Wednesday, June 25th. Six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $137.86.

About Sun Communities

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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