Nicola Wealth Management LTD. Purchases 2,300 Shares of Sun Communities, Inc. $SUI

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. grew 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 disclosure with the Securities and Exchange Commission. The institutional investor owned 10,984 shares of the real estate investment trust's stock after acquiring 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 quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Dodge & Cox boosted its stake in shares of Sun Communities by 42.1% during the first quarter. Dodge & Cox now owns 13,647,820 shares of the real estate investment trust's stock valued at $1,755,656,000 after purchasing an additional 4,041,802 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Sun Communities in the first quarter valued at about $112,395,000. Deutsche Bank AG increased its stake in shares of Sun Communities by 103.7% in the first quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust's stock valued at $207,294,000 after buying an additional 820,422 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Sun Communities by 10.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,118,054 shares of the real estate investment trust's stock worth $787,029,000 after acquiring an additional 568,514 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Sun Communities during the 1st quarter valued at approximately $67,256,000. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Stock Performance

Sun Communities stock traded up $0.52 during mid-day trading on Wednesday, reaching $128.99. 392,601 shares of the company's stock were exchanged, compared to its average volume of 874,132. The business's fifty day simple moving average is $125.80 and its 200 day simple moving average is $125.71. 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 one year low of $109.22 and a one year high of $146.13. The firm has a market capitalization of $16.14 billion, a PE ratio of 12.62, a P/E/G ratio of 6.64 and a beta of 0.86.

Sun Communities (NYSE:SUI - Get Free Report) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, topping analysts' consensus estimates of $1.67 by $0.09. The company had revenue of $623.50 million for 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 period in the previous 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, sell-side analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SUI shares. Wall Street Zen upgraded shares of Sun Communities from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Evercore ISI boosted their target price on shares of Sun Communities from $136.00 to $138.00 and gave the company an "in-line" rating in a report on Monday. Wells Fargo & Company lowered 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 research report on Friday, June 13th. They set a "neutral" rating and a $130.00 target price on the stock. Finally, Morgan Stanley set a $142.00 target price on Sun Communities in a research note on Thursday, September 4th. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $137.86.

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.