Peapack Gladstone Financial Corp Reduces Position in Sun Communities, Inc. $SUI

Key Points

• Peapack Gladstone Financial Corp cut its Sun Communities stake by 59.7% in the fourth quarter, selling 9,593 shares and leaving it with 6,468 shares valued at about $802,000.
• Sun Communities reported a quarterly loss of $0.07 per share, well below analyst expectations, though revenue came in at $500.5 million and rose 8% year over year.
• The REIT declared a quarterly dividend of $1.12 per share, and analysts currently rate the stock a “Moderate Buy” with a consensus price target of $141.27.

Peapack Gladstone Financial Corp lessened its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 59.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,468 shares of the real estate investment trust's stock after selling 9,593 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Sun Communities were worth $802,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. grew its stake in Sun Communities by 1.7% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 212,647 shares of the real estate investment trust's stock worth $26,349,000 after buying an additional 3,528 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Sun Communities by 111.4% during the 4th quarter. BNP Paribas Financial Markets now owns 162,403 shares of the real estate investment trust's stock worth $20,123,000 after buying an additional 85,578 shares during the last quarter. Norges Bank purchased a new position in Sun Communities during the 4th quarter worth approximately $753,364,000. Eurizon SLJ Capital Ltd purchased a new position in Sun Communities during the 4th quarter worth approximately $56,000. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Sun Communities during the 4th quarter worth approximately $3,566,000. Hedge funds and other institutional investors own 99.59% of the company's stock.

Sun Communities Trading Down 0.5%

Shares of SUI stock opened at $120.60 on Thursday. The business's 50 day moving average is $126.46 and its two-hundred day moving average is $127.43. Sun Communities, Inc. has a twelve month low of $115.53 and a twelve month high of $137.85. The company has a market capitalization of $14.86 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 3.98 and a beta of 0.79. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.60.

Sun Communities (NYSE:SUI - Get Free Report) last announced its earnings results on Monday, April 27th. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $1.31 by ($1.38). Sun Communities had a net margin of 62.29% and a return on equity of 0.16%. The company had revenue of $500.50 million during the quarter, compared to analysts' expectations of $472.40 million. During the same quarter last year, the business posted $1.26 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. Sun Communities has set its Q2 2026 guidance at 1.710-1.790 EPS and its FY 2026 guidance at 6.870-7.070 EPS. Equities analysts forecast that Sun Communities, Inc. will post 6.94 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Sun Communities's dividend payout ratio (DPR) is currently 40.69%.

Analyst Ratings Changes

A number of research analysts recently issued reports on SUI shares. Wells Fargo & Company dropped their price target on Sun Communities from $150.00 to $142.00 and set an "overweight" rating on the stock in a research note on Friday, May 29th. Evercore reiterated an "outperform" rating and issued a $144.00 target price on shares of Sun Communities in a research note on Wednesday, April 29th. Truist Financial lowered their target price on Sun Communities from $147.00 to $141.00 and set a "buy" rating on the stock in a research note on Tuesday, May 5th. Citigroup lifted their target price on Sun Communities from $150.00 to $155.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. Finally, Royal Bank Of Canada lifted their target price on Sun Communities from $148.00 to $151.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Sun Communities has a consensus rating of "Moderate Buy" and a consensus price target of $141.27.

Insider Activity at Sun Communities

In other news, EVP Fernando Castro-Caratini sold 23,750 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $124.43, for a total value of $2,955,212.50. Following the completion of the sale, the executive vice president directly owned 9,998 shares of the company's stock, valued at $1,244,051.14. This trade represents a 70.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.58% of the stock is owned by corporate insiders.

Sun Communities Company Profile

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company's portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.

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