Anson Funds Management LP Has $7.45 Million Stake in Sun Communities, Inc. $SUI

Key Points

• Anson Funds Management LP increased its stake in Sun Communities, Inc. by 167.9%, now holding 58,910 shares valued at approximately $7.45 million.
• Sun Communities has received mixed analyst ratings, with a consensus target price of $138.43, as Bank of America and JMP Securities provide differing outlooks on the stock.
• The company recently raised its quarterly dividend to $1.04 per share, representing an annualized yield of 3.3%, and indicated a positive earnings outlook for FY 2025.

Anson Funds Management LP grew its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 167.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,910 shares of the real estate investment trust's stock after acquiring an additional 36,920 shares during the period. Sun Communities comprises about 1.1% of Anson Funds Management LP's investment portfolio, making the stock its 22nd biggest position. Anson Funds Management LP's holdings in Sun Communities were worth $7,453,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Mariner LLC grew its stake in Sun Communities by 5.0% in the fourth quarter. Mariner LLC now owns 11,601 shares of the real estate investment trust's stock worth $1,427,000 after purchasing an additional 556 shares in the last quarter. First Trust Advisors LP increased its stake in Sun Communities by 8.7% during the 4th quarter. First Trust Advisors LP now owns 19,845 shares of the real estate investment trust's stock valued at $2,440,000 after purchasing an additional 1,594 shares in the last quarter. Natixis acquired a new position in Sun Communities during the 4th quarter valued at approximately $90,000. Adage Capital Partners GP L.L.C. lifted its stake in Sun Communities by 6.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 240,000 shares of the real estate investment trust's stock valued at $29,513,000 after acquiring an additional 15,000 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Sun Communities by 48.3% during the 4th quarter. Northern Trust Corp now owns 1,107,394 shares of the real estate investment trust's stock worth $136,176,000 after purchasing an additional 360,774 shares during the period. Hedge funds and other institutional investors own 99.59% of the company's stock.

Sun Communities Price Performance

Shares of SUI traded up $0.67 during mid-day trading on Friday, reaching $126.23. The company had a trading volume of 242,498 shares, compared to its average volume of 872,525. The company has a market capitalization of $15.80 billion, a P/E ratio of 12.35, a P/E/G ratio of 6.53 and a beta of 0.83. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $147.83. The company's 50-day moving average is $125.65 and its 200-day moving average is $125.77.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.09. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. The business 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 business posted $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. On average, equities analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $1.04 per share. This is an increase from Sun Communities's previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, June 30th. Sun Communities's dividend payout ratio is presently 40.70%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Barclays assumed coverage on Sun Communities in a research note on Thursday, May 29th. They issued an "overweight" rating and a $141.00 price target on the stock. Truist Financial increased their price objective on shares of Sun Communities from $137.00 to $141.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft set a $135.00 target price on shares of Sun Communities and gave the stock a "hold" rating in a research report on Wednesday, June 25th. Wells Fargo & Company dropped their price objective on Sun Communities from $135.00 to $132.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, Wall Street Zen upgraded shares of Sun Communities from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $138.21.

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.