Strs Ohio Makes New $27.38 Million Investment in Sun Communities, Inc. $SUI

Key Points

• Strs Ohio acquired a new position in Sun Communities, Inc. by purchasing 212,848 shares valued at approximately $27.4 million, making it own about 0.17% of the company.
• Sun Communities recently declared a quarterly dividend of $1.04 per share, representing an annualized dividend of $4.16 and a yield of 3.2%.
• Despite lower price targets from some analysts, the majority hold either a Buy or Hold rating, with an average target price of $138.71 for the stock.

Strs Ohio acquired a new position in Sun Communities, Inc. (NYSE:SUI - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 212,848 shares of the real estate investment trust's stock, valued at approximately $27,381,000. Strs Ohio owned 0.17% of Sun Communities as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Twin Tree Management LP bought a new position in Sun Communities in the 1st quarter valued at about $29,000. Opal Wealth Advisors LLC bought a new position in Sun Communities in the 1st quarter valued at about $29,000. Ransom Advisory Ltd bought a new position in Sun Communities in the 1st quarter valued at about $31,000. GKV Capital Management Co. Inc. bought a new position in Sun Communities in the 1st quarter valued at about $42,000. Finally, Parallel Advisors LLC grew its position in Sun Communities by 66.4% in the 1st quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust's stock valued at $61,000 after buying an additional 190 shares in the last quarter. Institutional investors own 99.59% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SUI. Royal Bank Of Canada decreased their target price 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. Morgan Stanley set a $142.00 target price on shares of Sun Communities in a research report on Thursday, September 4th. Evercore ISI lifted their price objective on shares of Sun Communities from $136.00 to $138.00 and gave the stock an "in-line" rating in a research note on Monday. Barclays initiated coverage on shares of Sun Communities in a research note on Thursday, May 29th. They issued an "overweight" rating and a $141.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft set a $135.00 price objective on shares of Sun Communities and gave the stock a "hold" rating in a research note on Wednesday, June 25th. 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 company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $137.86.

Sun Communities Price Performance

Shares of SUI traded up $0.27 during mid-day trading on Wednesday, hitting $128.74. The company's stock had a trading volume of 315,743 shares, compared to its average volume of 873,569. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $146.13. The firm has a 50-day moving average price of $125.80 and a 200 day moving average price of $125.71. The stock has a market capitalization of $16.11 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 6.64 and a beta of 0.86. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08.

Sun Communities (NYSE:SUI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, topping the consensus estimate of $1.67 by $0.09. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. The company had revenue of $623.50 million during the quarter, compared to analysts' expectations of $614.79 million. During the same period last 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. On average, research analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, September 30th. Sun Communities's dividend payout ratio (DPR) 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.