Sei Investments Co. Grows Stock Position in Sun Communities, Inc. $SUI

Key Points

• Sei Investments Co. increased its stake in Sun Communities by 33.1% in the first quarter, buying 191,973 additional shares and bringing its total to 771,978 shares worth about $97.2 million.
• Sun Communities reported a quarterly EPS loss of $0.07, missing analyst expectations, though revenue of $500.5 million came in above estimates and rose 8% year over year.
• The REIT paid a quarterly dividend of $1.12 per share, annualizing to $4.48 and a yield of 3.7%, while analysts currently rate the stock a Moderate Buy with an average target price of $140.05.

Sei Investments Co. boosted its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 33.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 771,978 shares of the real estate investment trust's stock after buying an additional 191,973 shares during the period. Sei Investments Co. owned 0.63% of Sun Communities worth $97,238,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SUI. Norges Bank acquired a new stake in shares of Sun Communities in the fourth quarter worth approximately $753,364,000. State Street Corp increased its position in Sun Communities by 4.2% during the third quarter. State Street Corp now owns 5,383,984 shares of the real estate investment trust's stock worth $699,862,000 after purchasing an additional 214,634 shares during the last quarter. Wellington Management Group LLP increased its position in Sun Communities by 12.4% during the fourth quarter. Wellington Management Group LLP now owns 5,039,870 shares of the real estate investment trust's stock worth $624,490,000 after purchasing an additional 554,075 shares during the last quarter. Geode Capital Management LLC raised its stake in Sun Communities by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,338,358 shares of the real estate investment trust's stock worth $288,937,000 after purchasing an additional 9,539 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Sun Communities by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,812,301 shares of the real estate investment trust's stock worth $228,280,000 after purchasing an additional 51,588 shares during the period. Hedge funds and other institutional investors own 99.59% of the company's stock.

Sun Communities Price Performance

Sun Communities stock opened at $120.14 on Friday. The firm has a fifty day moving average of $122.01 and a 200-day moving average of $126.44. Sun Communities, Inc. has a 52-week low of $115.53 and a 52-week high of $137.85. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $14.80 billion, a P/E ratio of 10.91, a PEG ratio of 3.96 and a beta of 0.79.

Sun Communities (NYSE:SUI - Get Free Report) last posted its earnings results on Monday, April 27th. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $1.31 by ($1.38). Sun Communities had a net margin of 62.29% and a return on equity of 0.16%. The business had revenue of $500.50 million for the quarter, compared to analyst estimates of $472.40 million. During the same quarter in the previous year, the firm posted $1.26 EPS. The business's revenue was up 8.0% compared to the same quarter last year. Sun Communities has set its Q2 2026 guidance at 1.710-1.790 EPS and its FY 2026 guidance at 6.870-7.070 EPS. As a group, analysts predict that Sun Communities, Inc. will post 6.9 EPS for the current year.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Tuesday, June 30th. Sun Communities's payout ratio is currently 40.69%.

Insider Transactions at Sun Communities

In related news, EVP Fernando Castro-Caratini sold 23,750 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the sale, the executive vice president directly owned 9,998 shares in the company, valued at approximately $1,244,051.14. This trade represents a 70.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gary A. Shiffman sold 25,031 shares of the firm's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $119.96, for a total value of $3,002,718.76. Following the sale, the director owned 857,761 shares in the company, valued at approximately $102,897,009.56. The trade was a 2.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SUI. Wells Fargo & Company lowered their price objective on shares of Sun Communities from $150.00 to $142.00 and set an "overweight" rating for the company in a research note on Friday, May 29th. Odeon Capital Group set a $135.00 target price on Sun Communities in a report on Thursday, July 9th. Weiss Ratings cut Sun Communities from a "buy (b-)" rating to a "hold (c)" rating in a report on Friday, May 1st. Jefferies Financial Group raised Sun Communities to a "strong-buy" rating in a research report on Wednesday. Finally, Royal Bank Of Canada dropped their price target on Sun Communities from $151.00 to $149.00 and set an "outperform" rating for the company in a research note on Friday, June 5th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $140.05.

Sun Communities Profile

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company's portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.