IFM Investors Pty Ltd Sells 4,073 Shares of Sun Communities, Inc. $SUI

Key Points

• IFM Investors Pty Ltd reduced its holdings in Sun Communities, Inc. by 7.9%, now owning 47,395 shares valued at $6.1 million following the sale of 4,073 shares.
• Other institutional investors enhanced their positions, with Dodge & Cox increasing its stake by 42.1%, owning over 13.6 million shares valued at $1.76 billion after additional purchases.
• Sun Communities announced a quarterly dividend of $1.04, translating to an annualized rate of $4.16 and a dividend yield of 3.2%, with a payout ratio of 40.70%.

IFM Investors Pty Ltd reduced its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,395 shares of the real estate investment trust's stock after selling 4,073 shares during the quarter. IFM Investors Pty Ltd's holdings in Sun Communities were worth $6,097,000 at the end of the most recent reporting period.

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

Sun Communities Trading Up 0.3%

Sun Communities stock traded up $0.43 during mid-day trading on Wednesday, hitting $128.90. 272,201 shares of the stock were exchanged, compared to its average volume of 873,260. The firm's fifty day simple moving average is $125.80 and its two-hundred day simple moving average is $125.71. The stock has a market capitalization of $16.13 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 6.64 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. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month high of $146.13.

Sun Communities (NYSE:SUI - Get Free Report) last released its quarterly earnings data 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 during 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 quarter 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. Analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The business 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. 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%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SUI shares. Wells Fargo & Company decreased their price objective 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. Deutsche Bank Aktiengesellschaft set a $135.00 price target on shares of Sun Communities and gave the company a "hold" rating in a research note on Wednesday, June 25th. 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. Royal Bank Of Canada reduced their price objective on shares of Sun Communities from $147.00 to $143.00 and set an "outperform" rating on the stock in a research note on Friday, August 1st. Finally, JMP Securities reiterated a "market outperform" rating and set a $140.00 price objective on shares of Sun Communities in a research note on Tuesday, May 20th. Six analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $137.86.

Sun Communities Company 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.