Resolution Capital Ltd Reduces Stock Position in Sun Communities, Inc. $SUI

Key Points

• Resolution Capital Ltd has significantly reduced its stake in Sun Communities, Inc. by 67.8%, now holding 242,151 shares after selling 510,331 shares in the first quarter.
• In addition, Deutsche Bank AG greatly increased its ownership of Sun Communities by 398.5% during the fourth quarter, now owning 791,003 shares valued at approximately $97.27 million.
• Sun Communities recently reported earnings that exceeded analysts' expectations, with a quarterly EPS of $1.76 compared to estimates of $1.67, and also declared a quarterly dividend of $1.04 per share.

Resolution Capital Ltd cut its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 67.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 242,151 shares of the real estate investment trust's stock after selling 510,331 shares during the quarter. Sun Communities makes up approximately 0.6% of Resolution Capital Ltd's investment portfolio, making the stock its 21st largest position. Resolution Capital Ltd owned approximately 0.19% of Sun Communities worth $31,150,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new position in shares of Sun Communities during the 1st quarter valued at approximately $29,000. Twin Tree Management LP acquired a new stake in Sun Communities during the first quarter valued at $29,000. GKV Capital Management Co. Inc. purchased a new position in Sun Communities in the first quarter valued at $42,000. Parallel Advisors LLC raised its position in shares of Sun Communities by 66.4% in the first quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust's stock worth $61,000 after acquiring an additional 190 shares during the period. Finally, Avalon Trust Co acquired a new position in shares of Sun Communities in the first quarter worth about $65,000. Institutional investors and hedge funds own 99.59% of the company's stock.

Analyst Ratings Changes

SUI has been the topic of a number of analyst reports. 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. Wells Fargo & Company lowered their price target on Sun Communities from $135.00 to $132.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 27th. Colliers Securities assumed coverage on Sun Communities in a report on Friday, June 13th. They issued a "neutral" rating and a $130.00 price objective on the stock. Deutsche Bank Aktiengesellschaft set a $135.00 price objective on Sun Communities and gave the company a "hold" rating in a research report on Wednesday, June 25th. Finally, Wall Street Zen raised Sun Communities from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $138.71.

Sun Communities Price Performance

NYSE:SUI traded up $2.91 during trading hours on Thursday, hitting $131.32. 498,315 shares of the stock were exchanged, compared to its average volume of 877,955. The firm's fifty day moving average price is $125.72 and its 200 day moving average price is $125.90. Sun Communities, Inc. has a 52-week low of $109.22 and a 52-week high of $147.83. The company has a market cap of $16.43 billion, a P/E ratio of 12.85, a P/E/G ratio of 6.72 and a beta of 0.86. The company has a current ratio of 7.08, a quick ratio of 7.08 and a debt-to-equity ratio of 0.55.

Sun Communities (NYSE:SUI - Get Free Report) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $623.50 million for the quarter, compared to the consensus estimate of $614.79 million. During the same quarter last year, the business 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 research analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

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

Sun Communities Company 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.