Commerzbank Aktiengesellschaft FI Acquires 2,689 Shares of Sun Communities, Inc. $SUI

Key Points

• Commerzbank Aktiengesellschaft FI increased its holdings in Sun Communities, Inc. by 47.3%, acquiring an additional 2,689 shares, bringing its total to 8,378 shares valued at approximately $1.06 million.
• Sun Communities has declared a quarterly dividend of $1.04 per share, translating to an annualized dividend of $4.16 and a yield of 3.4% for investors of record as of September 30.
• The company's stock recently reported earnings per share of $1.76, exceeding analyst estimates, with a revenue of $623.50 million for the quarter.

Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 47.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,378 shares of the real estate investment trust's stock after purchasing an additional 2,689 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Sun Communities were worth $1,060,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SUI. Opal Wealth Advisors LLC bought a new stake in shares of Sun Communities during the 1st quarter valued at about $29,000. Twin Tree Management LP bought a new stake in shares of Sun Communities during the 1st quarter valued at about $29,000. Ransom Advisory Ltd bought a new stake in shares of Sun Communities during the 1st quarter valued at about $31,000. GKV Capital Management Co. Inc. bought a new stake in shares of Sun Communities during the 1st quarter valued at about $42,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Sun Communities during the 2nd quarter valued at about $47,000. Institutional investors own 99.59% of the company's stock.

Sun Communities Stock Up 0.5%

SUI stock opened at $123.34 on Friday. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $140.49. 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 moving average is $127.28 and its 200-day moving average is $125.31. The firm has a market capitalization of $15.44 billion, a PE ratio of 12.07, a P/E/G ratio of 6.33 and a beta of 0.86.

Sun Communities (NYSE:SUI - Get Free Report) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, beating 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 company had revenue of $623.50 million for the quarter, compared to analyst estimates of $614.79 million. During the same quarter last year, the company earned $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. Sell-side analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Sun Communities's dividend payout ratio (DPR) is presently 40.70%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SUI. Deutsche Bank Aktiengesellschaft set a $135.00 price target on Sun Communities and gave the stock a "hold" rating in a report on Wednesday, June 25th. Wells Fargo & Company cut their price target on Sun Communities from $135.00 to $132.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 27th. Colliers Securities began coverage on Sun Communities in a report on Friday, June 13th. They issued a "neutral" rating and a $130.00 price target on the stock. Royal Bank Of Canada cut their price target on Sun Communities from $147.00 to $143.00 and set an "outperform" rating on the stock in a report on Friday, August 1st. Finally, Wall Street Zen upgraded Sun Communities from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sun Communities has a consensus rating of "Hold" and an average target price of $137.86.

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.

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