Gulf International Bank UK Ltd Sells 3,747 Shares of Sun Communities, Inc. $SUI

Key Points

• Gulf International Bank UK Ltd reduced its stake in Sun Communities, Inc. by 38.6%, now owning 5,970 shares valued at approximately $767,000.
• Sun Communities reported a quarterly EPS of $1.76, surpassing analyst estimates, with revenue reaching $623.50 million.
• The company announced an increase in its quarterly dividend to $1.04, reflecting a dividend yield of 3.3%, up from the previous $0.94.

Gulf International Bank UK Ltd trimmed its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 38.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,970 shares of the real estate investment trust's stock after selling 3,747 shares during the quarter. Gulf International Bank UK Ltd's holdings in Sun Communities were worth $767,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SUI. Vanguard Group Inc. boosted its stake in Sun Communities by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 17,947,285 shares of the real estate investment trust's stock worth $2,308,739,000 after purchasing an additional 403,923 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Sun Communities by 19.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,549,540 shares of the real estate investment trust's stock valued at $682,429,000 after acquiring an additional 911,857 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Sun Communities by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,829,816 shares of the real estate investment trust's stock valued at $225,012,000 after acquiring an additional 49,404 shares in the last quarter. Deutsche Bank AG lifted its position in Sun Communities by 103.7% in the 1st quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust's stock valued at $207,294,000 after acquiring an additional 820,422 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Sun Communities by 3.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,364,311 shares of the real estate investment trust's stock valued at $167,769,000 after acquiring an additional 40,832 shares in the last quarter. 99.59% of the stock is owned by institutional investors.

Insider Activity at Sun Communities

In related news, Director Jeff Blau acquired 3,665 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were purchased at an average price of $117.99 per share, with a total value of $432,433.35. Following the completion of the purchase, the director directly owned 3,665 shares of the company's stock, valued at $432,433.35. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.77% of the stock is owned by company insiders.

Analysts Set New Price Targets

SUI has been the topic of a number of research analyst reports. Robert W. Baird upped their price target on Sun Communities from $126.00 to $134.00 and gave the company a "neutral" rating in a report on Monday, August 11th. Deutsche Bank Aktiengesellschaft set a $135.00 target price on shares of Sun Communities and gave the company a "hold" rating in a research note on Wednesday, June 25th. Wall Street Zen upgraded shares of Sun Communities from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Truist Financial upped their target price on shares of Sun Communities from $137.00 to $141.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Morgan Stanley assumed coverage on shares of Sun Communities in a research report on Tuesday, July 15th. They set an "equal weight" rating and a $135.00 price objective on the stock. Six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Sun Communities currently has an average rating of "Hold" and an average target price of $138.43.

Sun Communities Stock Performance

SUI traded down $0.3650 during trading on Thursday, hitting $126.7650. The company's stock had a trading volume of 205,233 shares, compared to its average volume of 871,945. 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, Inc. has a one year low of $109.22 and a one year high of $147.83. The firm has a market cap of $15.86 billion, a PE ratio of 12.40, a P/E/G ratio of 6.55 and a beta of 0.83. The business's 50 day simple moving average is $125.49 and its 200-day simple moving average is $125.76.

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

Sun Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 3.3%. This is an increase from Sun Communities's previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, June 30th. Sun Communities's dividend payout ratio is 40.70%.

About Sun Communities

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.