Cbre Investment Management Listed Real Assets LLC Sells 332,451 Shares of Sun Communities, Inc. $SUI

Key Points

• Cbre Investment Management Listed Real Assets LLC sold 332,451 shares of Sun Communities, reducing its stake by 40.8%, now owning approximately 0.38% of the company valued at $61,961,000.
• Sun Communities experienced a quarterly dividend increase to $1.04 per share, representing a 3.3% yield, up from the previous $0.94.
• Analysts have a consensus rating of "Hold" on Sun Communities, with a target price averaging $138.43, following various upgrades and updates from different investment firms.

Cbre Investment Management Listed Real Assets LLC lowered its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 40.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 481,659 shares of the real estate investment trust's stock after selling 332,451 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned about 0.38% of Sun Communities worth $61,961,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SUI. Price T Rowe Associates Inc. MD increased its position in Sun Communities by 19.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,549,540 shares of the real estate investment trust's stock worth $682,429,000 after acquiring an additional 911,857 shares during the period. Nuveen LLC bought a new stake in Sun Communities in the 1st quarter valued at $112,395,000. Deutsche Bank AG increased its holdings in Sun Communities by 103.7% in the 1st quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust's stock valued at $207,294,000 after buying an additional 820,422 shares during the period. Balyasny Asset Management L.P. bought a new stake in Sun Communities in the 4th quarter valued at $71,122,000. Finally, Alyeska Investment Group L.P. increased its holdings in Sun Communities by 112.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,004,688 shares of the real estate investment trust's stock valued at $123,546,000 after buying an additional 531,880 shares during the period. Institutional investors own 99.59% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Sun Communities from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Robert W. Baird boosted their price target on shares of Sun Communities from $126.00 to $134.00 and gave the company a "neutral" rating in a report on Monday, August 11th. Barclays assumed coverage on shares of Sun Communities in a report on Thursday, May 29th. They issued an "overweight" rating and a $141.00 price target on the stock. JMP Securities reissued a "market outperform" rating and issued a $140.00 price target on shares of Sun Communities in a report on Tuesday, May 20th. Finally, Royal Bank Of Canada lowered their price target on shares of Sun Communities from $147.00 to $143.00 and set an "outperform" rating on the stock in a report on Friday, August 1st. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $138.43.

Sun Communities Stock Up 0.0%

Shares of NYSE:SUI opened at $126.8570 on Friday. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $147.83. 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 company's fifty day moving average is $125.57 and its 200-day moving average is $125.76. The company has a market capitalization of $15.88 billion, a PE ratio of 12.41, a P/E/G ratio of 6.54 and a beta of 0.83.

Sun Communities (NYSE:SUI - Get Free Report) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS 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 company had revenue of $623.50 million for the quarter, compared to the consensus estimate of $614.79 million. During the same quarter in the previous 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. Equities research analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a dividend of $1.04 per share. This is a positive change from Sun Communities's previous quarterly dividend of $0.94. The ex-dividend date was Monday, June 30th. This represents a $4.16 annualized dividend and a yield of 3.3%. Sun Communities's dividend payout ratio is currently 40.70%.

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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