Public Employees Retirement System of Ohio Has $26.58 Million Stock Position in Sun Communities, Inc. $SUI

Key Points

• The Public Employees Retirement System of Ohio has increased its stake in Sun Communities, Inc. by 1.5%, now owning approximately $26.58 million worth of the stock.
• Multiple institutional investors have adjusted their positions in Sun Communities, with 99.59% of the stock now owned by such entities.
• Sun Communities recently announced a quarterly dividend of $1.04 per share, reflecting an annualized yield of 3.3%.

Public Employees Retirement System of Ohio increased its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 210,162 shares of the real estate investment trust's stock after acquiring an additional 3,038 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.16% of Sun Communities worth $26,583,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Sun Communities by 2.3% in the first quarter. Vanguard Group Inc. now owns 17,947,285 shares of the real estate investment trust's stock worth $2,308,739,000 after acquiring an additional 403,923 shares during the period. Dodge & Cox lifted its stake in shares of Sun Communities by 42.1% in the first quarter. Dodge & Cox now owns 13,647,820 shares of the real estate investment trust's stock worth $1,755,656,000 after acquiring an additional 4,041,802 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. Deutsche Bank AG lifted its stake in 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. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Sun Communities by 2.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,404,160 shares of the real estate investment trust's stock valued at $180,631,000 after buying an additional 39,849 shares during the period. 99.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SUI. 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. Royal Bank Of Canada dropped their price target on Sun Communities from $147.00 to $143.00 and set an "outperform" rating on the stock in a research note on Friday, August 1st. Colliers Securities began coverage on Sun Communities in a research note on Friday, June 13th. They issued a "neutral" rating and a $130.00 price target on the stock. Barclays began coverage on Sun Communities in a research note on Thursday, May 29th. They issued an "overweight" rating and a $141.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on Sun Communities from $135.00 to $132.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 27th. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Sun Communities currently has an average rating of "Hold" and a consensus target price of $137.86.

Sun Communities Trading Down 0.8%

NYSE SUI opened at $128.00 on Thursday. The company has a market cap of $16.02 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 6.66 and a beta of 0.86. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $140.49. The business has a 50 day moving average price of $126.13 and a 200-day moving average price of $125.54. 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 (NYSE:SUI - Get Free Report) last released 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 firm had revenue of $623.50 million during 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 previous year, the company posted $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 analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.04 per share. The ex-dividend date is Tuesday, September 30th. This represents a $4.16 annualized dividend and a yield of 3.3%. Sun Communities's dividend payout ratio is 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.

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