Sun Communities, Inc. $SUI Stake Lowered by National Pension Service

Key Points

• The National Pension Service drastically reduced its stake in Sun Communities, Inc. by selling 192,289 shares, leaving it with only 448 shares valued at approximately $58,000.
• Multiple institutional investors have recently adjusted their holdings, with Price T. Rowe Associates increasing its stake by 19.7% and Deutsche Bank enhancing its position by 103.7%.
• Sun Communities announced a quarterly dividend of $1.04 per share, marking an increase from its previous dividend of $0.94, which translates to an annual yield of 3.3%.

National Pension Service lessened its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 99.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 448 shares of the real estate investment trust's stock after selling 192,289 shares during the period. National Pension Service's holdings in Sun Communities were worth $58,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Utah Retirement Systems raised its stake in shares of Sun Communities by 0.5% during the fourth quarter. Utah Retirement Systems now owns 20,503 shares of the real estate investment trust's stock worth $2,521,000 after purchasing an additional 100 shares during the last quarter. Cascade Investment Advisors Inc. increased its holdings in shares of Sun Communities by 1.0% in the 1st quarter. Cascade Investment Advisors Inc. now owns 10,473 shares of the real estate investment trust's stock valued at $1,347,000 after purchasing an additional 100 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Sun Communities by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,504 shares of the real estate investment trust's stock valued at $322,000 after buying an additional 102 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Sun Communities by 11.6% in the first quarter. Bessemer Group Inc. now owns 1,153 shares of the real estate investment trust's stock valued at $149,000 after buying an additional 120 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Sun Communities by 3.7% during the 4th quarter. Captrust Financial Advisors now owns 3,627 shares of the real estate investment trust's stock worth $446,000 after purchasing an additional 128 shares in the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Jeff Blau purchased 3,665 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average cost of $117.99 per share, with a total value of $432,433.35. Following the completion of the acquisition, the director directly owned 3,665 shares of the company's stock, valued at approximately $432,433.35. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.77% of the stock is currently owned by insiders.

Sun Communities Price Performance

Shares of NYSE:SUI traded down $0.3690 on Thursday, reaching $126.7610. 205,233 shares of the company were exchanged, compared to its average volume of 871,945. The firm has a market cap of $15.86 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 6.55 and a beta of 0.83. The company has a current ratio of 7.08, a quick ratio of 7.08 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average of $125.49 and a 200-day moving average of $125.76. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $623.50 million for the quarter, compared to analysts' expectations of $614.79 million. During the same period last year, the company 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. Equities analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were issued a $1.04 dividend. The ex-dividend date was Monday, June 30th. This represents a $4.16 dividend on an annualized basis and a yield of 3.3%. This is an increase from Sun Communities's previous quarterly dividend of $0.94. Sun Communities's dividend payout ratio (DPR) is presently 40.70%.

Wall Street Analysts Forecast Growth

Several analysts have commented on SUI shares. Morgan Stanley assumed coverage on Sun Communities in a report on Tuesday, July 15th. They issued an "equal weight" rating and a $135.00 price target for the company. Colliers Securities began coverage on Sun Communities in a report on Friday, June 13th. They issued a "neutral" rating and a $130.00 price target for the company. Royal Bank Of Canada lowered their price target on shares of Sun Communities from $147.00 to $143.00 and set an "outperform" rating for the company in a report on Friday, August 1st. Robert W. Baird lifted their price target on Sun Communities from $126.00 to $134.00 and gave the stock a "neutral" rating in a research note on Monday, August 11th. Finally, Barclays began coverage on shares of Sun Communities in a report on Thursday, May 29th. They issued an "overweight" rating and a $141.00 price objective for the company. 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $138.43.

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.