Presima Securities ULC Has $16.09 Million Stock Holdings in 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 raised its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 42.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,094 shares of the real estate investment trust's stock after acquiring an additional 37,232 shares during the quarter. Sun Communities makes up approximately 3.6% of Presima Securities ULC's investment portfolio, making the stock its 12th largest position. Presima Securities ULC owned 0.10% of Sun Communities worth $16,092,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SUI. 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 note on Wednesday, August 27th. Royal Bank Of Canada decreased their price target on shares of Sun Communities from $147.00 to $143.00 and set an "outperform" rating for the company in a research report on Friday, August 1st. Wall Street Zen raised shares of Sun Communities from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Morgan Stanley set a $142.00 price objective on shares of Sun Communities in a research note on Thursday, September 4th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $140.00 target price on shares of Sun Communities in a research report on Tuesday, May 20th. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $138.71.

Sun Communities Trading Down 1.3%

SUI traded down $1.66 during trading on Wednesday, reaching $128.48. 710,799 shares of the stock traded hands, compared to its average volume of 834,049. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.55. The stock's 50-day moving average is $125.72 and its 200 day moving average is $125.90. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month high of $147.83. The stock has a market capitalization of $16.08 billion, a PE ratio of 19.22, a P/E/G ratio of 6.72 and a beta of 0.86.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $614.79 million. During the same period in the previous year, the business earned $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. Equities analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Announces Dividend

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 issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, September 30th. Sun Communities's dividend payout ratio is presently 40.70%.

Sun Communities Profile

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.