BROOKFIELD Corp ON Has $7.64 Million Stock Position in Sun Communities, Inc. $SUI

Key Points

• BROOKFIELD Corp ON reduced its stake in Sun Communities, Inc. by 13.2%, now holding 59,410 shares valued at $7.64 million after selling 9,064 shares.
• Sun Communities reported earnings of $1.76 per share, exceeding analysts' expectations, with a revenue of $623.5 million for the latest quarter.
• The company also declared a quarterly dividend of $1.04 per share, representing an annualized yield of 3.2%.

BROOKFIELD Corp ON reduced its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 13.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 59,410 shares of the real estate investment trust's stock after selling 9,064 shares during the period. BROOKFIELD Corp ON's holdings in Sun Communities were worth $7,643,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Twin Tree Management LP acquired a new stake in Sun Communities during the first quarter worth about $29,000. Opal Wealth Advisors LLC acquired a new stake in shares of Sun Communities in the first quarter valued at about $29,000. Ransom Advisory Ltd acquired a new stake in shares of Sun Communities in the first quarter valued at about $31,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Sun Communities in the first quarter valued at about $42,000. Finally, Parallel Advisors LLC lifted its stake 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 valued at $61,000 after purchasing an additional 190 shares during the period. Institutional investors and hedge funds own 99.59% of the company's stock.

Sun Communities Price Performance

Shares of NYSE SUI opened at $131.32 on Friday. The firm has a market capitalization of $16.43 billion, a P/E ratio of 12.85, a P/E/G ratio of 6.63 and a beta of 0.86. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.55. The stock's 50-day simple moving average is $125.76 and its two-hundred day simple moving average is $125.88. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $147.83.

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 for the quarter, topping analysts' consensus estimates of $1.67 by $0.09. The business had revenue of $623.50 million for the quarter, compared to analyst estimates of $614.79 million. Sun Communities had a negative return on equity of 0.60% and a net margin of 48.86%.During the same period in the prior year, the company 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. As a group, equities analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $4.16 annualized dividend and a yield of 3.2%. Sun Communities's payout ratio is currently 40.70%.

Analysts Set New Price Targets

SUI has been the topic of several recent analyst reports. Wall Street Zen raised Sun Communities from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Morgan Stanley set a $142.00 price objective on Sun Communities in a research note on Thursday, September 4th. Deutsche Bank Aktiengesellschaft set a $135.00 target price on shares of Sun Communities and gave the stock a "hold" rating in a research note on Wednesday, June 25th. Royal Bank Of Canada lowered their target price on Sun Communities from $147.00 to $143.00 and set an "outperform" rating on the stock in a research note on Friday, August 1st. Finally, Wells Fargo & Company cut their price target on Sun Communities from $135.00 to $132.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 27th. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $138.71.

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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