Resolution Capital Ltd Decreases Stake 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 reduced its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 67.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 242,151 shares of the real estate investment trust's stock after selling 510,331 shares during the period. Sun Communities makes up 0.6% of Resolution Capital Ltd's holdings, making the stock its 21st biggest position. Resolution Capital Ltd owned 0.19% of Sun Communities worth $31,150,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SUI. Mercer Global Advisors Inc. ADV boosted its position in shares of Sun Communities by 112.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,196 shares of the real estate investment trust's stock valued at $1,008,000 after acquiring an additional 4,342 shares during the last quarter. Baird Financial Group Inc. boosted its position in shares of Sun Communities by 5.7% during the 4th quarter. Baird Financial Group Inc. now owns 4,381 shares of the real estate investment trust's stock valued at $539,000 after acquiring an additional 238 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of Sun Communities by 3.7% during the 4th quarter. Captrust Financial Advisors now owns 3,627 shares of the real estate investment trust's stock valued at $446,000 after acquiring an additional 128 shares during the last quarter. Cresset Asset Management LLC boosted its position in shares of Sun Communities by 13.7% during the 4th quarter. Cresset Asset Management LLC now owns 3,830 shares of the real estate investment trust's stock valued at $474,000 after acquiring an additional 461 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Sun Communities by 398.5% during the 4th quarter. Deutsche Bank AG now owns 791,003 shares of the real estate investment trust's stock valued at $97,270,000 after acquiring an additional 632,331 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company's stock.

Sun Communities Stock Up 0.6%

Shares of NYSE:SUI opened at $129.69 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08. The firm has a market capitalization of $16.23 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 6.65 and a beta of 0.86. The firm's 50-day moving average is $125.62 and its two-hundred day moving average is $125.83. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.67 by $0.09. The company had revenue of $623.50 million for the quarter, compared to analyst estimates of $614.79 million. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. During the same period in the prior year, the firm 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. Analysts predict that Sun Communities, Inc. will post 6.77 EPS 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 paid a dividend of $1.04 per share. The ex-dividend date is Tuesday, September 30th. This represents a $4.16 dividend on an annualized basis and a yield of 3.2%. Sun Communities's dividend payout ratio is 40.70%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Sun Communities from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Deutsche Bank Aktiengesellschaft set a $135.00 target price on shares of Sun Communities and gave the company a "hold" rating in a research report on Wednesday, June 25th. Wells Fargo & Company decreased their target price on shares of 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. Bank of America upped their target price on shares of Sun Communities from $124.00 to $132.00 and gave the company an "underperform" rating in a research report on Monday, May 12th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $140.00 target price on shares of Sun Communities in a research report on Tuesday, May 20th. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $138.71.

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.

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