NFJ Investment Group LLC Trims Stake in Sun Communities, Inc. $SUI

Key Points

• NFJ Investment Group LLC reduced its stake in Sun Communities, Inc. by 70.1%, owning 58,188 shares worth approximately $7.48 million after selling 136,296 shares in the first quarter.
• In addition to NFJ, several hedge funds increased their holdings in Sun Communities, with Deutsche Bank AG notably raising its stake by 398.5%.
• Sun Communities reported a quarterly earnings per share (EPS) of $1.76, exceeding analysts' expectations, with an annualized dividend of $4.16 and a yield of 3.2%.

NFJ Investment Group LLC trimmed its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 70.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,188 shares of the real estate investment trust's stock after selling 136,296 shares during the quarter. NFJ Investment Group LLC's holdings in Sun Communities were worth $7,485,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Sun Communities during the first quarter worth about $29,000. Twin Tree Management LP bought a new stake in Sun Communities during the first quarter worth about $29,000. GKV Capital Management Co. Inc. bought a new stake in Sun Communities during the first quarter worth about $42,000. Parallel Advisors LLC lifted its stake 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 purchasing an additional 190 shares during the last quarter. Finally, Avalon Trust Co bought a new stake in Sun Communities during the first quarter worth about $65,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SUI shares. Wall Street Zen raised Sun Communities from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Deutsche Bank Aktiengesellschaft set a $135.00 price target on Sun Communities and gave the stock a "hold" rating in a research note on Wednesday, June 25th. Barclays began coverage on Sun Communities in a research note on Thursday, May 29th. They set an "overweight" rating and a $141.00 price target for the company. Wells Fargo & Company lowered their target price on Sun Communities from $135.00 to $132.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 27th. Finally, Royal Bank Of Canada lowered their target price on Sun Communities from $147.00 to $143.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. Six analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $138.71.

Sun Communities Trading Up 0.6%

SUI traded up $0.78 during midday trading on Friday, reaching $129.69. 877,418 shares of the company's stock traded hands, compared to its average volume of 818,871. The firm has a fifty day moving average of $125.62 and a two-hundred day moving average of $125.83. The stock has a market capitalization of $16.23 billion, a price-to-earnings ratio of 12.69, a P/E/G ratio of 6.70 and a beta of 0.86. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week 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 EPS for the quarter, beating analysts' consensus estimates of $1.67 by $0.09. The business had revenue of $623.50 million during the quarter, compared to analyst estimates 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 company 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, equities analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $4.16 dividend on an annualized basis and a yield of 3.2%. Sun Communities's dividend payout ratio is presently 40.70%.

About Sun Communities

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.