Kovitz Investment Group Partners LLC Buys New Position in Sun Communities, Inc. $SUI

Key Points

• Kovitz Investment Group Partners LLC has acquired a new stake in Sun Communities, purchasing 2,711 shares valued at approximately $349,000.
• Sun Communities reported a Q2 EPS of $1.76, exceeding analysts' expectations, and has guidance for FY 2025 set between 6.510-6.670 EPS.
• The company's quarterly dividend increased to $1.04 per share, marking a yield of 3.3%, with a payout ratio of 40.70%.

Kovitz Investment Group Partners LLC purchased a new stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,711 shares of the real estate investment trust's stock, valued at approximately $349,000.

Several other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in Sun Communities during the first quarter valued at about $29,000. GKV Capital Management Co. Inc. acquired a new stake in Sun Communities in the first quarter worth about $42,000. Parallel Advisors LLC raised its stake in shares of Sun Communities by 66.4% in the first quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust's stock worth $61,000 after purchasing an additional 190 shares during the last quarter. Avalon Trust Co purchased a new position in shares of Sun Communities in the first quarter worth about $65,000. Finally, Blue Trust Inc. raised its stake in shares of Sun Communities by 510.4% in the first quarter. Blue Trust Inc. now owns 586 shares of the real estate investment trust's stock worth $75,000 after purchasing an additional 490 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SUI shares. Morgan Stanley started coverage on Sun Communities in a research report on Tuesday, July 15th. They set an "equal weight" rating and a $135.00 price target for the company. Bank of America boosted their price objective on Sun Communities from $124.00 to $132.00 and gave the company an "underperform" rating in a research report on Monday, May 12th. Royal Bank Of Canada lowered their price target on Sun Communities from $147.00 to $143.00 and set an "outperform" rating on the stock in a research note on Friday, August 1st. Truist Financial lifted their price target on Sun Communities from $137.00 to $141.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen raised Sun Communities from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $138.43.

Sun Communities Stock Down 0.7%

NYSE SUI traded down $0.9290 during trading hours on Monday, hitting $126.1110. 754,484 shares of the company were exchanged, compared to its average volume of 875,076. The company has a 50 day moving average of $125.57 and a two-hundred day moving average of $125.76. 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 52-week low of $109.22 and a 52-week high of $147.83. The firm has a market cap of $15.78 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 6.56 and a beta of 0.83.

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 EPS for the quarter, beating analysts' consensus estimates of $1.67 by $0.09. The business had revenue of $623.50 million for the quarter, compared to the consensus estimate 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 in the prior 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. Equities research analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a $1.04 dividend. This is a boost from Sun Communities's previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, June 30th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.3%. Sun Communities's payout ratio is currently 40.70%.

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.