Sun Communities, Inc. $SUI Shares Acquired by Nicola Wealth Management LTD.

Key Points

• Nicola Wealth Management LTD. increased its position in Sun Communities, Inc. by 26.5%, acquiring an additional 2,300 shares, bringing its total holdings to 10,984 shares valued at approximately $1.4 million.
• Sun Communities recently reported earnings of $1.76 per share for the last quarter, exceeding analysts' expectations, alongside revenues of $623.50 million.
• The company declared a quarterly dividend of $1.04 per share, reflecting an annualized yield of 3.2%, with the payment to be made on October 15th.

Nicola Wealth Management LTD. raised its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 26.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,984 shares of the real estate investment trust's stock after purchasing an additional 2,300 shares during the quarter. Nicola Wealth Management LTD.'s holdings in Sun Communities were worth $1,413,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

SUI has been the topic of several research reports. Colliers Securities initiated coverage on Sun Communities in a research note on Friday, June 13th. They set a "neutral" rating and a $130.00 price target on the stock. JMP Securities restated a "market outperform" rating and set a $140.00 price target on shares of Sun Communities in a research note on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft set a $135.00 price target on Sun Communities and gave the company a "hold" rating in a research note on Wednesday, June 25th. Wall Street Zen upgraded Sun Communities from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Truist Financial raised their price target on Sun Communities from $137.00 to $141.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $138.71.

Sun Communities Stock Down 1.0%

SUI traded down $1.28 on Friday, hitting $130.00. The company had a trading volume of 568,811 shares, compared to its average volume of 806,335. The stock has a fifty day moving average price of $125.77 and a 200-day moving average price of $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 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 $16.27 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 6.71 and a beta of 0.86.

Sun Communities (NYSE:SUI - Get Free Report) last posted its earnings results 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. Sun Communities had a negative return on equity of 0.60% and a net margin of 48.86%.The company had revenue of $623.50 million for the quarter, compared to analyst estimates of $614.79 million. During the same quarter in the previous year, the firm earned $1.86 earnings per share. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. Analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 3.2%. The ex-dividend date is Tuesday, September 30th. Sun Communities's payout ratio is 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.