BROOKFIELD Corp ON Sells 9,064 Shares of 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 lowered its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 13.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Twin Tree Management LP bought a new position in Sun Communities in the first quarter worth approximately $29,000. Opal Wealth Advisors LLC purchased a new stake in shares of Sun Communities in the first quarter worth approximately $29,000. Ransom Advisory Ltd purchased a new stake in shares of Sun Communities in the first quarter worth approximately $31,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Sun Communities in the first quarter worth approximately $42,000. Finally, Parallel Advisors LLC raised its stake in shares of Sun Communities by 66.4% in the first quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust's stock worth $61,000 after purchasing an additional 190 shares during the last quarter. Institutional investors own 99.59% of the company's stock.

Sun Communities Stock Performance

NYSE:SUI traded up $0.52 during trading hours on Wednesday, reaching $128.99. The stock had a trading volume of 392,601 shares, compared to its average volume of 874,132. 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 simple moving average of $125.80 and a 200 day simple moving average of $125.71. Sun Communities, Inc. has a 12-month low of $109.22 and a 12-month high of $146.13. The stock has a market cap of $16.14 billion, a P/E ratio of 12.62, a price-to-earnings-growth ratio of 6.64 and a beta of 0.86.

Sun Communities (NYSE:SUI - Get Free Report) last released its 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 business 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 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, research analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently commented on SUI shares. Robert W. Baird increased their price objective on Sun Communities from $126.00 to $134.00 and gave the stock a "neutral" rating in a research note on Monday, August 11th. JMP Securities reaffirmed a "market outperform" rating and set a $140.00 price target on shares of Sun Communities in a research report on Tuesday, May 20th. Wall Street Zen raised Sun Communities from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Colliers Securities began coverage on Sun Communities in a research report on Friday, June 13th. They set a "neutral" rating and a $130.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft set a $135.00 price target on Sun Communities and gave the company a "hold" rating in a research report on Wednesday, June 25th. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sun Communities presently has an average rating of "Hold" and an average price target 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.