Sun Communities, Inc. $SUI Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP sold 55,492 shares of Sun Communities, Inc., reducing its stake by 3.0%, and now owns approximately 1.39% of the company valued at $228.26 million.
• Wall Street analysts have mixed ratings for Sun Communities, with six rating it as a "Buy" and a consensus price target of $138.43.
• Sun Communities recently increased its quarterly dividend to $1.04 per share, up from $0.94, representing a 3.3% yield and a payout ratio of 40.70%.

Dimensional Fund Advisors LP decreased its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 3.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,774,324 shares of the real estate investment trust's stock after selling 55,492 shares during the period. Dimensional Fund Advisors LP owned about 1.39% of Sun Communities worth $228,255,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Utah Retirement Systems increased its holdings in Sun Communities by 0.5% in the fourth quarter. Utah Retirement Systems now owns 20,503 shares of the real estate investment trust's stock valued at $2,521,000 after buying an additional 100 shares in the last quarter. Cascade Investment Advisors Inc. increased its holdings in Sun Communities by 1.0% in the first quarter. Cascade Investment Advisors Inc. now owns 10,473 shares of the real estate investment trust's stock valued at $1,347,000 after buying an additional 100 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Sun Communities by 0.4% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 27,108 shares of the real estate investment trust's stock worth $3,487,000 after purchasing an additional 100 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Sun Communities by 4.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,504 shares of the real estate investment trust's stock worth $322,000 after purchasing an additional 102 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Sun Communities by 11.6% during the first quarter. Bessemer Group Inc. now owns 1,153 shares of the real estate investment trust's stock worth $149,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company's stock.

Sun Communities Trading Down 0.4%

NYSE:SUI traded down $0.5190 on Thursday, hitting $126.6110. The stock had a trading volume of 606,579 shares, compared to its average volume of 874,585. 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 has a market cap of $15.85 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 6.55 and a beta of 0.83. The company has a fifty day moving average price of $125.49 and a two-hundred day moving average price of $125.76. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $147.83.

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 the consensus estimate of $1.67 by $0.09. The company had revenue of $623.50 million for the quarter, compared to analyst estimates of $614.79 million. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. During the same period in the previous year, the business posted $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 expect that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, June 30th. This is a positive change from Sun Communities's previous quarterly dividend of $0.94. Sun Communities's dividend payout ratio (DPR) is presently 40.70%.

Insiders Place Their Bets

In other news, Director Jeff Blau bought 3,665 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were bought at an average cost of $117.99 per share, for a total transaction of $432,433.35. Following the acquisition, the director directly owned 3,665 shares of the company's stock, valued at $432,433.35. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.77% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SUI shares. Robert W. Baird boosted their target price on shares of Sun Communities from $126.00 to $134.00 and gave the stock a "neutral" rating in a research note on Monday, August 11th. 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. Truist Financial boosted their target price on shares of Sun Communities from $137.00 to $141.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Wall Street Zen raised shares of Sun Communities from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Colliers Securities started coverage on shares of Sun Communities in a research note on Friday, June 13th. They set a "neutral" rating and a $130.00 target price for the company. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $138.43.

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.