Presima Securities ULC Buys 37,232 Shares of Sun Communities, Inc. $SUI

Key Points

• Presima Securities ULC increased its stake in Sun Communities, Inc. by 42.4%, becoming its 12th largest position with a total investment of approximately $16.09 million.
• Sun Communities reported $1.76 EPS in its latest earnings, exceeding analysts' expectations of $1.67, while projecting full-year guidance of 6.510-6.670 EPS for FY 2025.
• The company declared a quarterly dividend of $1.04 per share, reflecting an annualized yield of 3.2%, with the ex-dividend date set for September 30th.

Presima Securities ULC grew its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 42.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,094 shares of the real estate investment trust's stock after purchasing an additional 37,232 shares during the period. Sun Communities makes up approximately 3.6% of Presima Securities ULC's portfolio, making the stock its 12th biggest holding. Presima Securities ULC owned about 0.10% of Sun Communities worth $16,092,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in shares of Sun Communities during the 1st quarter valued at about $29,000. Twin Tree Management LP acquired a new stake in Sun Communities in the first quarter worth $29,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Sun Communities in the 1st quarter worth approximately $42,000. Parallel Advisors LLC boosted 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 valued at $61,000 after buying an additional 190 shares in the last quarter. Finally, Avalon Trust Co acquired a new position in shares of Sun Communities in the 1st quarter valued at $65,000. Hedge funds and other institutional investors own 99.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SUI. Truist Financial raised their price target on Sun Communities from $137.00 to $141.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Morgan Stanley set a $142.00 price target on Sun Communities in a research note on Thursday, September 4th. JMP Securities restated a "market outperform" rating and set a $140.00 target price on shares of Sun Communities in a research report on Tuesday, May 20th. Barclays assumed coverage on Sun Communities in a research note on Thursday, May 29th. They set an "overweight" rating and a $141.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft set a $135.00 target price on Sun Communities and gave the company a "hold" rating in a research note on Wednesday, June 25th. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $138.71.

Sun Communities Stock Down 0.5%

SUI stock traded down $0.71 during mid-day trading on Friday, reaching $130.57. 244,385 shares of the company traded hands, compared to its average volume of 874,242. The stock has a market cap of $16.34 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 6.63 and a beta of 0.86. 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 fifty-two week low of $109.22 and a fifty-two week high of $147.83. The firm's 50 day moving average price is $125.76 and its 200 day moving average price is $125.88.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, beating the consensus estimate of $1.67 by $0.09. The business had revenue of $623.50 million for the quarter, compared to the consensus estimate 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 business 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. As a group, equities research analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

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