Gateway Investment Advisers LLC Raises Position in Sun Communities, Inc. $SUI

Key Points

• Gateway Investment Advisers LLC increased its holdings in Sun Communities, Inc. by 180.5% during the 2nd quarter, acquiring an additional 21,412 shares to bring their total to 33,274 shares valued at approximately $4.21 million.
• Institutional investors own 99.59% of Sun Communities, with several funds, including Versor Investments LP and GAMMA Investing LLC, significantly increasing their stakes in the company.
• Sun Communities announced a quarterly dividend of $1.04 per share, representing an annualized dividend yield of 3.2%, with a dividend payout ratio of 40.70%.

Gateway Investment Advisers LLC boosted its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 180.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,274 shares of the real estate investment trust's stock after acquiring an additional 21,412 shares during the quarter. Gateway Investment Advisers LLC's holdings in Sun Communities were worth $4,209,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in Sun Communities during the first quarter worth $29,000. Twin Tree Management LP purchased a new stake in Sun Communities in the 1st quarter worth approximately $29,000. Ransom Advisory Ltd purchased a new stake in Sun Communities during the 1st quarter worth $31,000. GKV Capital Management Co. Inc. acquired a new position in Sun Communities in the 1st quarter worth $42,000. Finally, Parallel Advisors LLC grew its position in shares of Sun Communities by 66.4% during the 1st quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust's stock valued at $61,000 after buying an additional 190 shares during the last quarter. 99.59% of the stock is owned by institutional investors.

Sun Communities Stock Up 0.1%

SUI stock traded up $0.09 during midday trading on Friday, hitting $128.09. 1,795,327 shares of the company's stock were exchanged, compared to its average volume of 846,867. The stock has a market capitalization of $16.03 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 6.61 and a beta of 0.86. The firm has a 50 day moving average price of $125.92 and a 200-day moving average price of $125.58. The company has a current ratio of 7.08, a quick ratio of 7.08 and a debt-to-equity ratio of 0.55. Sun Communities, Inc. has a 12-month low of $109.22 and a 12-month high of $144.62.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 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 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 business 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. On average, analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.04 per share. The ex-dividend date is Tuesday, September 30th. This represents a $4.16 annualized dividend and a yield of 3.2%. Sun Communities's dividend payout ratio is presently 40.70%.

Analysts Set New Price Targets

A number of research firms recently commented on SUI. Wall Street Zen raised shares of Sun Communities from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Morgan Stanley set a $142.00 price target on shares of Sun Communities in a research note on Thursday, September 4th. Robert W. Baird boosted their price objective 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. Deutsche Bank Aktiengesellschaft set a $135.00 price target on shares of Sun Communities and gave the stock a "hold" rating in a research report on Wednesday, June 25th. Finally, Barclays initiated coverage on shares of Sun Communities in a research note on Thursday, May 29th. They set an "overweight" rating and a $141.00 price objective on the stock. Six 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. According to data from MarketBeat, Sun Communities currently has a consensus rating of "Hold" and an average target price 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.