Knights of Columbus Asset Advisors LLC Makes New $2.31 Million Investment in Sun Communities, Inc. $SUI

Key Points

• Knights of Columbus Asset Advisors LLC invested approximately $2.31 million in Sun Communities, Inc. by purchasing 18,238 shares in the second quarter of 2023.
• Sun Communities announced a quarterly dividend of $1.04 per share, representing a 3.3% dividend yield and a payout ratio of 40.70%.
• The stock currently holds a consensus rating of "Hold", with analysts predicting EPS of 6.77 for the current fiscal year.

Knights of Columbus Asset Advisors LLC purchased a new position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 18,238 shares of the real estate investment trust's stock, valued at approximately $2,307,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Twin Tree Management LP acquired a new stake in shares of Sun Communities during the 1st quarter worth about $29,000. Opal Wealth Advisors LLC acquired a new stake in shares of Sun Communities during the 1st quarter worth about $29,000. Ransom Advisory Ltd acquired a new stake in shares of Sun Communities during the 1st quarter worth about $31,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Sun Communities during the 1st quarter worth about $42,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Sun Communities during the 2nd quarter worth about $47,000. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Performance

Shares of SUI opened at $127.47 on Tuesday. The stock has a 50-day simple moving average of $127.04 and a 200-day simple moving average of $125.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 7.08 and a current ratio of 7.08. The stock has a market capitalization of $15.95 billion, a PE ratio of 12.47, a PEG ratio of 6.72 and a beta of 0.86. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $140.49.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.09. The business had revenue of $623.50 million during the quarter, compared to analysts' expectations of $614.79 million. Sun Communities had a negative return on equity of 0.60% and a net margin of 48.86%.During the same quarter last 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. On average, analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, September 30th. Sun Communities's dividend payout ratio (DPR) is presently 40.70%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SUI. Truist Financial raised their price objective on Sun Communities from $137.00 to $141.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Wells Fargo & Company cut their price objective on Sun Communities from $135.00 to $132.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. Colliers Securities started coverage on Sun Communities in a report on Friday, June 13th. They set a "neutral" rating and a $130.00 target price for the company. Morgan Stanley set a $142.00 target price on Sun Communities in a report on Thursday, September 4th. Finally, Deutsche Bank Aktiengesellschaft set a $135.00 target price on Sun Communities and gave the company a "hold" rating in a report on Wednesday, June 25th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.

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