IFM Investors Pty Ltd Reduces Holdings in 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 cut its holdings in 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 (SEC). The fund 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 quarter.

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

Sun Communities Trading Down 1.0%

Shares of SUI stock traded down $1.28 during mid-day trading on Friday, reaching $130.00. The company's stock had a trading volume of 568,811 shares, compared to its average volume of 806,335. The company's 50 day simple moving average is $125.77 and its 200-day simple moving average is $125.74. Sun Communities, Inc. has a 12-month low of $109.22 and a 12-month high of $147.83. 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 has a market capitalization of $16.27 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 6.71 and a beta of 0.86.

Sun Communities (NYSE:SUI - Get Free Report) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS 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 business had revenue of $623.50 million for the quarter, compared to the consensus estimate of $614.79 million. During the same quarter last year, the firm 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. On average, research analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend 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%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. JMP Securities restated a "market outperform" rating and set a $140.00 target price on shares of Sun Communities in a research report on Tuesday, May 20th. Colliers Securities initiated coverage on shares of Sun Communities in a research report on Friday, June 13th. They set a "neutral" rating and a $130.00 target price on the stock. Robert W. Baird increased their price target 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. 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, Wells Fargo & Company cut their price target on shares of Sun Communities from $135.00 to $132.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 27th. Six equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $138.71.

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.