Cohen & Steers Inc. Sells 919,346 Shares of Sun Communities, Inc. $SUI

Key Points

• Cohen & Steers Inc. cut its Sun Communities stake by 8.4% in the fourth quarter, selling 919,346 shares. It still owns more than 10 million shares, worth about $1.25 billion and representing 8.13% of Sun Communities.
• Analysts remain broadly positive on Sun Communities (NYSE:SUI), with 10 Buy ratings and 5 Hold ratings. The stock’s consensus target price is $141.13, implying upside from its recent trading level.
• The company recently reported mixed quarterly results, missing EPS estimates but beating revenue expectations. Sun Communities also announced a $1.12 quarterly dividend, equal to a 3.5% annualized yield.

Cohen & Steers Inc. reduced its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,059,770 shares of the real estate investment trust's stock after selling 919,346 shares during the period. Sun Communities accounts for 2.3% of Cohen & Steers Inc.'s holdings, making the stock its 12th biggest holding. Cohen & Steers Inc. owned 8.13% of Sun Communities worth $1,246,603,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CoreCap Advisors LLC raised its position in shares of Sun Communities by 3.8% in the fourth quarter. CoreCap Advisors LLC now owns 2,228 shares of the real estate investment trust's stock valued at $276,000 after purchasing an additional 82 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Sun Communities by 9.1% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,003 shares of the real estate investment trust's stock valued at $127,000 after purchasing an additional 84 shares during the period. IFP Advisors Inc raised its position in shares of Sun Communities by 3.2% in the fourth quarter. IFP Advisors Inc now owns 2,902 shares of the real estate investment trust's stock valued at $360,000 after purchasing an additional 89 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Sun Communities by 13.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 773 shares of the real estate investment trust's stock valued at $96,000 after purchasing an additional 90 shares during the period. Finally, Assetmark Inc. raised its position in shares of Sun Communities by 55.7% in the third quarter. Assetmark Inc. now owns 271 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 97 shares during the period. 99.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Mizuho assumed coverage on shares of Sun Communities in a report on Tuesday, March 31st. They set an "outperform" rating and a $143.00 target price on the stock. Barclays decreased their target price on shares of Sun Communities from $148.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, May 22nd. Robert W. Baird upped their target price on shares of Sun Communities from $136.00 to $140.00 and gave the stock a "neutral" rating in a report on Friday, March 6th. Deutsche Bank Aktiengesellschaft set a $133.00 target price on shares of Sun Communities in a report on Thursday, May 14th. Finally, Citigroup upped their target price on shares of Sun Communities from $150.00 to $155.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Sun Communities presently has an average rating of "Moderate Buy" and a consensus price target of $141.13.

Insider Activity at Sun Communities

In other news, EVP Fernando Castro-Caratini sold 23,750 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $124.43, for a total value of $2,955,212.50. Following the transaction, the executive vice president owned 9,998 shares of the company's stock, valued at $1,244,051.14. This represents a 70.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.58% of the stock is owned by insiders.

Sun Communities Price Performance

Shares of NYSE:SUI opened at $126.80 on Friday. The company's fifty day moving average price is $126.14 and its 200-day moving average price is $127.35. The firm has a market capitalization of $15.63 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 4.14 and a beta of 0.79. Sun Communities, Inc. has a one year low of $115.53 and a one year high of $137.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.39 and a quick ratio of 3.39.

Sun Communities (NYSE:SUI - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The real estate investment trust reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of $1.31 by ($1.38). The company had revenue of $500.50 million during the quarter, compared to the consensus estimate of $472.40 million. Sun Communities had a return on equity of 0.16% and a net margin of 62.29%.Sun Communities's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 EPS. Sun Communities has set its Q2 2026 guidance at 1.710-1.790 EPS and its FY 2026 guidance at 6.870-7.070 EPS. On average, equities research analysts anticipate that Sun Communities, Inc. will post 6.94 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.5%. Sun Communities's dividend payout ratio is presently 40.69%.

Sun Communities Profile

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company's portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.

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