IFM Investors Pty Ltd Has $5.58 Million Stock Holdings in Sun Communities, Inc. $SUI

Key Points

• IFM Investors Pty Ltd decreased its stake in Sun Communities by 6.9%, selling 3,255 shares, bringing its ownership down to 44,140 shares worth approximately $5.58 million.
• Sun Communities recently announced a quarterly dividend of $1.04 per share, which will be paid on October 15th, representing a yield of 3.2% with a payout ratio of 40.70%.
• Equities analysts have mixed ratings on Sun Communities, with six analysts giving it a Buy rating, eight a Hold rating, and one a Sell, while the consensus price target stands at $137.86.

IFM Investors Pty Ltd decreased its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 6.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,140 shares of the real estate investment trust's stock after selling 3,255 shares during the quarter. IFM Investors Pty Ltd's holdings in Sun Communities were worth $5,583,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SUI. Dodge & Cox boosted its holdings in Sun Communities by 42.1% in the first quarter. Dodge & Cox now owns 13,647,820 shares of the real estate investment trust's stock valued at $1,755,656,000 after purchasing an additional 4,041,802 shares during the period. Nuveen LLC bought a new position in Sun Communities during the first quarter valued at approximately $112,395,000. Deutsche Bank AG grew its position in shares of Sun Communities by 103.7% during the 1st quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust's stock worth $207,294,000 after buying an additional 820,422 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Sun Communities by 10.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,118,054 shares of the real estate investment trust's stock valued at $787,029,000 after acquiring an additional 568,514 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Sun Communities in the first quarter worth approximately $67,256,000. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Stock Up 0.6%

SUI stock traded up $0.82 during midday trading on Monday, reaching $128.93. 710,118 shares of the company's stock traded hands, compared to its average volume of 882,935. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $141.94. The company has a market cap of $16.14 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 6.61 and a beta of 0.86. 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 firm's fifty day moving average price is $125.99 and its 200-day moving average price is $125.50.

Sun Communities (NYSE:SUI - Get Free Report) last released 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 net margin of 48.86% and a negative return on equity of 0.60%. The firm had revenue of $623.50 million during the quarter, compared to the consensus estimate of $614.79 million. During the same period in the prior year, the firm 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. As a group, sell-side analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

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

Wall Street Analysts Forecast Growth

SUI has been the topic of several research reports. Deutsche Bank Aktiengesellschaft set a $135.00 price objective on shares of Sun Communities and gave the stock a "hold" rating in a research note on Wednesday, June 25th. Morgan Stanley set a $142.00 target price on Sun Communities in a research note on Thursday, September 4th. Colliers Securities assumed coverage on Sun Communities in a research report on Friday, June 13th. They set a "neutral" rating and a $130.00 target price on the stock. Truist Financial upped their target price on Sun Communities from $137.00 to $141.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Wells Fargo & Company cut their target price on shares of Sun Communities from $135.00 to $132.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 27th. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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.